Finance

Americas

Pendo Systems name Ruth Wandhöfer, a globally recognized banking expert, to their Board of Directors

Pendo Systems is proud to announce that Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, has joined their board. Ms. Wandhöfer is a banking regulatory expert and one of the foremost authorities on transaction banking regulatory matters. Her reputation has been built around her ability to drive regulatory and industry dialogue...

Implications of the money laundering law reform

The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism...

Wall Street finishes flat ahead of earnings season, key US-China meeting

It was a fairly flat session on Wall Street overnight, as investors exercised caution ahead of the first-quarter earnings season and a meeting between the US and Chinese presidents later this week. Investors will be focussed on the potentially tense meeting between Donald Trump and Xi Jinping on Thursday and Friday, after Mr Trump held out the possibility...

GLC Advisors Strengthens Advisory and M&A Expertise with Addition of Senior Bankers

Addition of Several Industry Bankers Including Former St. Charles Capital Professionals Deepens Firm’s Expertise and Relationships Across Technology, FIG, Consumer, Retail and Energy IndustriesGLC Advisors & Co., LLC (“GLC Advisors”) is pleased to welcome nine seasoned M&A professionals, including former Partners and professionals of Denver based...

Columbia Threadneedle opens office in Chile

Columbia Threadneedle Investments has opened its first Latin American office in Santiago, Chile. As its first proprietary distribution hub for the Andes (Chile, Peru and Colombia), the new office will serve the asset manager’s institutional and wholesale clients in the region. Columbia Threadneedle has also appointed Santiago Zarauza Riestra...

Asia Pacific

Why more Indonesian teens are giving up dating

IT WAS LOVE at first like. When Natta Reza, a dashing Indonesian busker, discovered the young woman’s account on Instagram, he knew he’d found the one. He liked one of her posts, and they started chatting. Within hours he had proposed via an Instagram message. They married soon after, in February 2017.  Since then Mr Natta and his wife, Wardah...

Magical spells are a booming business in Myanmar

MIN KYAW THEIN is just 26, but he has a commanding presence. In his home in a suburb of Yangon, Myanmar’s biggest city, he sits cross-legged on the floor in front of a shrine festooned with tea lights, flowers and magical diagrams. His family and students gather round and listen intently as he explains how he acquired his powers, among them the ability...

Thailand’s economy was suffering before the virus

DESPITE COUPS, floods and mass protests, visitors have flocked to Thailand in recent decades. Almost 40m of them arrived last year to blister on its beaches and dance in its discos. But as the globe shuts down because of covid-19 and holidaymakers stay at home, the land of smiles feels glum. Travel and tourism, broadly defined, were worth more than...

South Koreans at US military bases are furloughed

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub THE COMMANDER did not mince words. Furloughing half of the 9,000 South Koreans who work for the American...

Abe Shinzo draws closer to declaring a state of emergency

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub BARELY TWO weeks ago, the notion that Tokyo’s summer Olympic games should be postponed on account of...

Europe

How Allianz is dealing with market turmoil

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub OLIVER BÄTE still goes to his office every day on Munich’s Königinstrasse, next to the English Garden,...

What China’s interest-rate muddle says about its financial system

IN 1979, WHEN Paul Volcker started jacking up interest rates to quell inflation in America, China launched a radical experiment of its own: it created commercial banks. Deng Xiaoping was trying to steer the country away from central planning. Four decades on, Mr Volcker’s job long done, China’s transition is still unfolding. For evidence of this,...

Emerging-market lockdowns match rich-world ones. The handouts do not

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub WHEN THE global financial crisis struck emerging economies in 2008, two kinds of exodus ensued. Footloose...

Economists’ forecasts for GDP growth in 2020 vary widely

ECONOMISTS cannot revise down their forecasts of GDP growth for the effects of the coronavirus pandemic fast enough. All agree that 2020 will be dreadful, but some expect recovery to take longer than others, making for a much grimmer year.■Read More

The departing boss of Norway’s oil fund on building an asset manager

THERE IS A point in a conversation with Yngve Slyngstad when he invokes Bjorn Borg, the Nordic tennis star of the 1970s. The Borg approach—make sure you don’t lose; above all, be solid—is one Mr Slyngstad has instilled in Norges Bank Investment Management (NBIM), the organisation he has run since 2008 from within Norway’s central bank. Its target,...

Mena

A chocolate factory in a conflict zone

DOMINIQUE PERSOONE, the bad boy of Belgian chocolate, has served powdered chocolate that has been snorted like cocaine at a party for the Rolling Stones and had the sticky stuff drizzled on naked women for a photo shoot. His latest escapade is making chocolate in the jungles of eastern Congo. The scheme is less madcap than it may sound. The factory...

Some African governments are enforcing lockdowns brutally

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub DURING APARTHEID in South Africa, policemen who wanted to control crowds often reached for the sjambok—a...

Why covid-19 has spread among Israel’s ultra-Orthodox

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For more coverage, see our coronavirus hub THIS WAS to be the week when Binyamin Netanyahu, the prime minister of Israel, finally won. After three...

A lost year in Saudi Arabia

THE YEAR had got off to a good start for Saudi Arabia. After a sluggish stretch the non-oil economy was growing, and officials were eager to lure new investment. The war in neighbouring Yemen seemed to be winding down. The world had largely moved on from the murder of Jamal Khashoggi, a journalist dismembered by Saudi agents in 2018. And the kingdom...

Mozambique’s mysterious conflict is intensifying

MICHAEL SMELLED trouble before he saw it. In January the 28-year-old from Bilibiza, in the northern Mozambican province of Cabo Delgado, caught a whiff of smoke. A village had been torched nearby. Within hours houses and schools in Bilibiza were burning as 10,000 residents fled. It was the second time in two years that Michael (not his real name) had...

International

Small Business Aid Program Stretches Agency to Its Limits

Five days after the start of a $349 billion emergency effort to get money into the hands of small businesses, the agency at the heart of the program is emerging as its biggest bottleneck.The Small Business Administration, lightly staffed and working with aging technology, has been caught unprepared for the onrush of demand from desperate small-business...

‘I Just Need the Comfort’: Processed Foods Make a Pandemic Comeback

Just a few months ago, Sue Smith considered herself a healthy eater. She ate salads with kale and quinoa. She counted calories. She eliminated processed sugar from her diet. She avoided dairy products.But in the past month, as the coronavirus pandemic made her housebound, Ms. Smith, a writer in Los Angeles, began shopping — and eating — completely...

What Will Tomorrow’s Workplace Bring? More Elbow Room, for Starters

Many Americans are weeks, if not months, from returning to their offices and regaining a semblance of a normal workday. Given the recent layoff and furlough announcements, many are wondering whether they will even have a job after the dust settles.But building owners and company leaders — and those who help them manage properties and design workplaces...

Is a Pro Video Game Streamer the Most Coronavirus-Proof Job in the World?

Ben Lupo sat in his basement in Omaha one recent afternoon, trying to kill a brigade of heavily armed Russians before they killed him.“I’m getting shot at already, dog,” he said into a headset, as the sound of machine guns echoed in the air. “So, this is not cool.”Moments later, the Russians had cornered and finished him off — also not cool....

Oil Companies Are Collapsing Due to Coronavirus, but Wind and Solar Energy Keep Growing

A few years ago, the kind of double-digit drop in oil and gas prices the world is experiencing now because of the coronavirus pandemic might have increased the use of fossil fuels and hurt renewable energy sources like wind and solar farms.That is not happening.In fact, renewable energy sources are set to account for nearly 21 percent of the electricity...