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

India’s economy is growing at its slowest pace since 2013

GLOBAL INVESTORS once fell in love with India’s growth “story” because of people like Shanmuga Subramanian. Educated in mechanical engineering, he became a computer programmer, working with Cognizant, an outsourcing firm, and Lennox, which makes heaters and air-conditioners. But that was not enough to exhaust his technological enthusiasms. He...

A vast smuggling ring is exposed in Kyrgyzstan, to popular outrage

THE VICTIM was a Chinese citizen. He was shot in a gangland-style killing in Istanbul, the biggest city in Turkey. But the smuggling racket on which he had just blown the whistle was centred on Kyrgyzstan, a poor Central Asian country of 6m which has been a transit point between China and Europe for centuries. Aierken Saimaiti said his part in the racket...

Singapore strikes its first official blows against fake news

“FACEBOOK IS LEGALLY required to tell you that the Singapore government says this post has false information,” reads the message, which links to a government website. It appeared on November 30th on a post published by the States Times Review, a blog which delights in hectoring the Singaporean authorities. The post alleged that the country’s elections...

Food is a fulcrum in Indian politics

IN SOUTH ASIA the ruling classes ignore the quotidian at their peril. Just ask them about onions. This autumn the humble bulb has challenged titans. The trouble began when unseasonably heavy rains followed drought across the onion-growing belt of north and central India. That not only all but destroyed the crop; the wet caused more than a third of onions...

The anti-vax movement causes an epidemic in Samoa

SAMOA’S STREETS are silent. The only busy spots are the country’s hospitals, where fearful families queue for vaccinations. An epidemic of the measles has so far produced 4,000 infections and 60 deaths, in a country of 200,000 people. The government has announced a state of emergency, closed all schools and banned private vehicles from the roads....

Europe

Fight against climate change: Extended advisory agreement with Solar Impulse Foundation helps young companies to succeed

One thousand companies that are up in the fight against climate change will find it easier to access suitable financing for their ideas thanks to an extended cooperation signed by the EIB and the Solar Impulse Foundation (SIF) today. The cooperation builds on an Advisory Services Agreement signed in March this year by the EIB’s InnovFin Advisory...

EIB Vice-President Scannapieco meets David Sassoli, President of the European Parliament

Dario Scannapieco, Vice-President of the European Investment Bank, met the President of the European Parliament David Sassoli in Brussels on Wednesday 4th December.Read More

Tax our tech and we’ll blacklist your bubbly

“UNACCEPTABLE”, harrumphed France’s finance minister. Worthy of a “pugnacious” response, thundered a colleague. The object of this Gallic ire was the Trump administration’s threat this week to impose 100% tariffs on some of France’s tastiest exports, from cheese to champagne, in response to its government’s planned digital-sales tax. Corporate...

The Trump administration’s trade policies clash with each other  

PRESIDENT DONALD TRUMP’S attempts to orchestrate America’s trade relations are causing a cacophony. On December 2nd he trumpeted new tariffs on Brazilian and Argentine steel and aluminium. Hours later the United States Trade Representative (USTR) chimed in with two sets of tariffs on European products. Over the following days noise grew louder in...

Splits in Italy threaten to derail euro-zone reforms

AFTER REPAIR work during the sovereign-debt crisis in 2009-15, further fixes to the euro zone’s architecture have been few and slow. Northern countries have been unwilling to assume cross-border risks, as long as debts and non-performing loans in southern ones were high. Now quarrels within one of those southern countries, Italy, threaten what little...

Mena

Elites backed by Iran are clinging to power in Iraq

THE TOMB of a dead Shia cleric might seem an odd target for Iraqi protesters angry about corruption, poor governance and a lack of jobs. Muhammad Baqr al-Hakim resisted Saddam Hussein, Iraq’s old dictator, and helped to create the modern state. But he also had close ties to Iran, which has assisted the Iraqi government in trying to subdue the protesters....

Arabs are losing faith in religious parties and leaders

“NO TO RELIGION or sect,” cry the protesters in Iraq. “No to Islam, no to Christianity, revolt for the nation,” echo those in Lebanon. Across the Arab world people are turning against religious political parties and the clerics who helped bring them to power. Many appear to be giving up on Islam, too. These trends are reflected in new data from...

Jammed streets highlight the challenges of Sudan’s transition

SOUAD AL-SAWY squints in the glare of the mid-afternoon sun, searching for a bus home. The 18-year-old student’s commute used to take 20 minutes, but these days it can take up to 90. “It’s getting worse every day,” she sighs. Although life after the revolution has improved in many ways—for instance, a hated law that banned women from wearing...

How the Iranian regime put down economic protests

ALMOST IMMEDIATELY after the government of Iran switched the internet back on, the stories started coming out. Near the city of Mahshahr alone, the Islamic Revolutionary Guards Corps surrounded, shot and killed 40 to 100 protesters in a marsh, witnesses told the New York Times. Altogether, between 180 and 450 people are thought to have been killed by...

African countries are struggling to build robust identity systems

THE FIRST thing that visitors to the Apartheid Museum in Johannesburg see is a wall of identity cards—the pieces of paper that determined where people could live and work and whom they could love. From the outset, the apartheid regime’s ability to discriminate against “nie-blankes” (non-whites) depended on having a robust system of identifying...

International

The Chinese Roots of Italy’s Far-Right Rage

PRATO, Italy — Like everyone in her family and most of the people in the factories where she labored in this town nurtured by the textile trade, Roberta Travaglini counted herself an unwavering supporter of the political left.During her childhood, her father brought her to boisterous Communist Party rallies full of music, dancing and fiery speeches...

PG&E Reaches $13.5 Billion Deal With Wildfire Victims

After months of tense negotiations, Pacific Gas & Electric and lawyers for victims of wildfires that killed dozens of people and destroyed tens of thousands of homes and businesses agreed on Friday to a multibillion-dollar legal settlement.The victims wouldn’t receive all of the $13.5 billion that is being made available under the agreement. Some...

Elon Musk Is Cleared in Lawsuit Over His ‘Pedo Guy’ Tweet

Elon Musk did not defame a British cave explorer by calling him a “pedo guy” on Twitter, a jury concluded on Friday in Los Angeles. The verdict ended a short trial based on an acrid dispute between the men over the high-profile rescue of a group of children trapped in Thailand in the summer of 2018.“My faith in humanity is restored,” Mr. Musk...

U.S. Added 266,000 Jobs in November. Here’s the Bottom Line.

America’s job engine has again defied jittery stock traders, bearish forecasters and blue-ribbon economists to deliver eye-catching gains and power an exceptionally resilient economy.November’s reassuring employment report, released Friday by the Labor Department, featured payroll increases of 266,000 and offered a counterpoint to recent anxieties...

How Aramco’s Huge I.P.O. Fell Short of Saudi Prince’s Wish

Early on Oct. 15, a group of international investment bankers delivered some unwelcome news to top executives of Saudi Arabia’s giant oil company, Saudi Aramco. The bankers, gathered at Aramco’s headquarters in Dhahran, reported that global investors weren’t as bullish on the company’s initial public offering of stock as the officials had expected,...