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

Urban Laotians pay handsomely for ant-egg soup

“YOU WOULDN’T serve this to the king,” says Dalaphone Pholsena, a restaurateur in Vientiane. Before her are two small bowls of ant-egg soup, a favourite dish of the late summer in Laos. In it are chunks of white fish, meaty mushrooms and dozens of splayed and lifeless ants. Bobbing at the surface is the pièce de résistance: clusters of ivory-white...

Sri Lanka is becoming a one-family state

USUALLY, WHEN people speak of an electoral landslide, they exaggerate. But the word aptly describes what happened in Sri Lanka on August 5th. The island nation’s voters all but buried the grand old party that had led an outgoing coalition, the United National Party, reducing its 106 members in the 225-seat parliament to a humiliating total of exactly...

NIMBYs and pacifists thwart Japan’s military plans

DURING A VISIT to Tokyo in 2017, Donald Trump called on Japan to buy “massive” amounts of American weaponry. At the time, North Korea was testing new rockets regularly. For the Japanese government, buying Aegis Ashore, a pricey American missile shield, allayed both concerns. Not all Japanese, however, were happy with the purchase, especially in...

Indonesia risks repeating an environmental disaster

AS THE PRESIDENT’S helicopter flew above the swamp forests of Central Kalimantan, a province in the Indonesian part of Borneo, older residents may have felt a sense of déjà vu. Joko Widodo, popularly known as Jokowi, had arrived on July 9th to inspect the site of a new agricultural zone of 1,650 square kilometres—more than twice the size of New...

Cambodians are bingeing on microfinance loans

BANGLADESH MAY be the homeland of microcredit, but no country is keener on it than Cambodia. According to its central bank, there were some 160,000 branches of microfinance institutions around the country in 2016—one for almost every square kilometre of Cambodian territory. Almost 2.2m of Cambodia’s 10m-odd adults have a microcredit loan outstanding,...

Europe

President Werner Hoyer speaks at the International conference on assistance and support to Beirut and the Lebanese people

Following the tragedy that struck Beirut on August 4, President Hoyer will speak at the Conférence internationale d’appui et de soutien à Beyrouth et à la population libanaise (International conference on assistance and support to Beirut and the Lebanese people). Read More

President Werner Hoyer to speak at the International conference on assistance and support to Beirut and the Lebanese people

Following the tragedy that struck Beirut on August 4, President Hoyer will speak at the Conférence internationale d’appui et de soutien à Beyrouth et à la population libanaise (International conference on assistance and support to Beirut and the Lebanese people). Read More

Ireland: Government Launches €500 million Long-term lending for SMEs, Farmers and Fishing

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. the Minister for Finance, Paschal Donohoe T.D and the Minister for Agriculture, Food and the Marine, Dara Calleary T.D. today (Thursday the 30th of July) launched a €500 million expansion to the Future Growth Loan, the government’s scheme to support SMEs, farmers...

Renforcer ses compétences financières en période de pandémie : un cours gratuit en ligne sur l’intermédiation financière en tant que moteur d’une croissance inclusive et résiliente

Élaborée par le FMI en collaboration avec la Banque européenne d’investissement, la formation gratuite en ligne intitulée Développement financier et inclusion financière [Financial Development and Financial Inclusion (FDFIx)] est le fruit du savoir-faire combiné de ces deux institutions,...

L’initiative « 2X Challenge » dépasse son objectif initial en mobilisant 4,5 milliards d’USD à l’appui de l’autonomisation économique des femmes

Lancée en juin 2018 lors du sommet du G7 de Charlevoix, au Canada, l’initiative multilatérale 2X Challenge a l’ambitieux objectif de déployer et de mobiliser des volumes de capitaux inégalés à l’appui de projets qui donnent des moyens d’action aux femmes en tant qu’entrepreneuses, dirigeantes, salariées et consommatrices de produits...

Mena

Khalifa Haftar is losing ground and lashing out in Libya

KHALIFA HAFTAR’S self-styled Libyan National Army (LNA) says it will cease fire for what remains of the holy month of Ramadan. But friends of General Haftar say he is doubling down on the civil war he started six years ago. His year-long siege of Tripoli, seat of the UN-backed Government of National Accord (GNA), has intensified of late. Groups loyal...

Saudi Arabia stops flogging

“THE FORNICATRESS and the fornicator—flog each of them with a hundred stripes; and do not let pity for them hold you back from carrying out God’s law.” So says the Koran, which dates back to the seventh century. Prince Muhammad bin Salman, the de facto ruler of Saudi Arabia, is trying to drag the kingdom into the 21st. So on April 25th the government...

Zambia was already a case study in how not to run an economy

“I FEEL YOUR PAIN,” said Edgar Lungu in a televised address on April 24th. The president of Zambia claimed that covid-19 had “thrown into disarray” the country’s finances. He mused about whether the government could afford to pay for pensions, civil-service salaries and medicine. “Where will the money come from?” It is a good question....

How Sudan’s warlords buy their gun trucks

THE TOYOTA HILUX is a sturdy vehicle. That makes it especially popular in Africa. It outsells all other pickup trucks, or “bakkies”, in South Africa. In Mali and Niger smugglers transporting people and goods across the Sahara will accept no alternative, since they can cram 30 people onto one and can still climb a sand dune. It is also a familiar...

Some African politicians risk spreading covid through quackery

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 our coronavirus tracker and more coverage, see our hub MANY AFRICAN politicians are fighting covid-19 with tools prescribed by science. South...

International

Kamala Harris and Disinformation: Debunking 3 Viral Falsehoods

As Joseph R. Biden Jr. announced that he had selected Senator Kamala Harris of California as his vice-presidential running mate, internet trolls got to work.Since then, false and misleading information about Ms. Harris has spiked online and on TV. The activity has jumped from two dozen mentions per hour during a recent week to over 3,200 per hour in...

State and Local Budget Pain Looms Over Economy’s Future

WASHINGTON — The U.S. economy struggled to shake off the last recession, with historically slow growth and a labor market that took more than six years to recover its earlier employment levels. A big part of the reason: state and local governments, which cut spending and fired workers amid widespread budget shortfalls.The same dynamic poses one of...

Retail Sales Rise for Third Month, Though Growth Slows

Even as coronavirus infections continued to spread, in-person school reopening plans were scrapped and unemployment stayed near record highs, Americans kept shopping in July with retail sales rising 1.2 percent from June, reflecting a rare bright spot in the battered economy.The jump in sales reported on Friday by the Commerce Department, though far...

Debunking 3 Viral Falsehoods About Kamala Harris

As Joseph R. Biden Jr. announced that he had selected Senator Kamala Harris of California as his vice-presidential running mate, internet trolls got to work.Since then, false and misleading information about Ms. Harris has spiked online and on TV. The activity has jumped from two dozen mentions per hour during a recent week to over 3,200 per hour in...

Colleges Are Charging Students Coronavirus Fees: Live Updates

Here’s what you need to know:Credit...Till LauerThis year, some college students are noticing a new item on their semester bills: coronavirus fees.Faced with extra expenses for screening and testing students for the virus, and for reconfiguring campus facilities for safety, some colleges and universities are asking students to pay a share of the cost.The...