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

North Korea reminds the world why past peace talks have failed

THE sun smiled down on the demilitarised zone between the two Koreas on April 27th, the day Moon Jae-in, South Korea’s president, met Kim Jong Un, the North Korean leader, for a strikingly warm summit at which they agreed on the “complete denuclearisation” of the peninsula. On May 16th the weather was very different, and so was the news....

At last, a cause to unite all Malaysia’s ethnic groups

IT IS tempting to interpret the drama of the past week—in which the United Malays National Organisation (UMNO) and its allies, which had run Malaysia for 61 years, crashed from power—as the result of the interaction of three former colleagues in UMNO. Without the extreme greed of UMNO’s Najib Razak, the fallen prime minister, the country...

Islamists in Indonesia deploy their own children in suicide attacks

Neither churches nor children spared ALL terrorist attacks are sickening, but some more so than others. On May 13th a family of suicide bombers killed 13 people and wounded more than 40 others in attacks on Christian churches in the city of Surabaya in eastern Java. The father drove a car packed with explosives into one Sunday service. His two sons,...

Myanmar’s government sits by while the army goes on the offensive

Giving peace a charge AFTER fighting flared in April between the Burmese army and the Kachin Independence Army (KIA), an insurgent force controlling much of Myanmar’s northern extremes, thousands of civilians fled into the jungle. Some trekked for weeks before reaching Myitkyina, the capital of Kachin state, where they have taken refuge in a local...

Australia’s biggest river is running dry, despite plans to save it

Where did all the efficiency savings go? PADDLE steamers once chugged up and down the Darling, the main tributary of the Murray river, ferrying wool from remote farms to the port of Adelaide. The Murray-Darling basin, which is larger than Ethiopia, gives life to Australia’s arid interior (see map). But these days the Darling is reduced to a putrid...

Mena

A cleric who once tormented America seems to have won Iraq’s election

MUQTADA AL-SADR is a master at tapping Iraqi discontent. The firebrand Shia cleric (pictured) directed his supporters to attack the American troops who invaded Iraq in 2003. More recently he has led campaigns against corruption and foreign influence. His supporters ransacked government offices in 2016. And in the election on May 12th they gave...

Zimbabwe’s new president may not be able to fix the economy

Green, but not backed UNTIL recently Priscilla Magaya was an administrator in a printing firm in Harare, Zimbabwe’s sunny capital. Today she spends her days on the side of a street, clutching a thick bundle of different banknotes. A few weeks ago, after two years of not paying her wages, her employer went bust. Ms Magaya turned to money trading,...

Burundi’s president is now “Supreme Eternal Guide”. Retirement is out

AS OMENS go, it is not a good one. In Kinama, a district in north-east Bujumbura, the cobble-stoned capital of Burundi, residents found the body of a man floating in a field of rice on May 8th. His head was missing; his heart had been torn out. Stuck to his chest was a message written in Kirundi, the language of most Burundians: “Traitors are...

Zimbabwe launches a second state-owned airline

HAVING one loss-making state-owned airline is bad enough. What, then, of a government that wants two? Earlier this year Zimbabweans were startled to learn that the government had concluded a secret $70m deal to buy four second-hand Boeing jets from Malaysia to form the core of a new national airline, Zimbabwe Airways. This venture is supposed to...

Iran braces for economic war with America

TEHRAN’S grand bazaar, a weathervane of politics, is on strike again. Shutdowns there foreshadowed Iran’s 1979 revolution. In 2012 they pushed the government into talks that eventually resulted in a deal, signed in 2015, that restricted Iran’s nuclear efforts in exchange for sanctions relief. And Donald Trump’s pull-out from that deal on...

International

Germany Acts to Tame Facebook, Learning From Its Own History of Hate

ImageAt a Facebook deletion center in Berlin, the agents, who work for a third-party firm, remove illegal hate speech from the social network.CreditGordon Welters for The New York TimesGermany Acts to Tame Facebook, Learning From Its Own History of HateA country taps its past as it leads the way on one of the most pressing issues facing modern democracies:...

Disruptions: Me and My Numb Thumb: A Tale of Tech, Texts and Tendons

DisruptionsMe and My Numb Thumb: A Tale of Tech, Texts and TendonsImageCreditKimberly SaltBy Nellie BowlesMay 19, 2018SAN FRANCISCO — It took me a few months to accept that I had given myself tendinosis in my phone thumb.It is a depressingly modern condition in which the tendons around the thumb inflame as a result of repetitive strain —...

Cash-Rich Companies Set Record for Buybacks

Cash-Rich Companies Set Record for BuybacksBy Matt PhillipsMay 18, 2018American companies, flush with cash from the $1.5 trillion tax cut, bought back a record quantity of their own shares during the first three months of the year.[embedded content]Companies repurchased $178 billion of shares during the first quarter, up more than 42 percent from the...

Booming Savannah Port Sees Trade Tensions as Just a Hiccup

ImageA container ship passes by a restaurant on River Street in Savannah on its way to the Garden City Terminal. The Savannah port has tripled its traffic since 2000.CreditDustin Chambers for The New York TimesBooming Savannah Port Sees Trade Tensions as Just a HiccupAt the nation’s fourth-busiest gateway, local confidence over its potential outweighs...

Tech Hit This Small Town Hard. Now, Locals Hope It Will Fuel a Revival.

ImageHolywell’s High Street is a shell of its former self, as e-commerce and bigger cities increasingly draw shoppers.CreditTom Jamieson for The New York TimesTech Hit This Small Town Hard. Now, Locals Hope It Will Fuel a Revival.Holywell, a town in Wales with dozens of local retailers, has struggled with the impacts of online shopping. It is...