News and opinion on finance

Covid-19 could be good for Gulf equities

Trading volumes at the Abu Dhabi Securities Exchange (ADX) fell by over a quarter in the first half of 2020 as the coronavirus pandemic hit activity. However, a listing from national energy ...
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Covid-19 spurs domestic bank M&A in Africa

Access Bank’s Zambian subsidiary announced plans for the acquisition of a 100% stake of domestic lender Cavmont Capital Holdings Zambia in mid July. Following the collapse of Equity Bank’s plans to acquire ...
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SGX’s Nasdaq tie-up is a bid to stem exchange’s outward flows

A new cooperation agreement between Singapore Exchange Regulation, the regulatory arm of the Singapore stock market, and Nasdaq aims to streamline a framework for dual listings on the two bourses. Singapore needs ...
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Banks back further state intervention in trade finance market

Financial institutions have backed the International Chamber of Commerce’s call for governments to scale up their support for trade finance to meet post-coronavirus demand ...
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Temasek result gives a window into sovereign wealth strategy through Covid

Temasek, one of Singapore’s sovereign wealth vehicles, today announced unaudited figures for its last financial year, showing a 2.3% decline in total shareholder return. In the circumstances, that’s really not bad. The ...
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Corporate finance: Months late, Germany’s bailout fund gets to work

Economy minister Peter Altmaier announces approval from the European Commission’s state aid authority for the €600 billion WSF After months of delay, Berlin is moving ahead with a plan to recapitalize corporates ...
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Sustainable finance: The financial sector must build D&I momentum

Events of the last few months, from the pandemic to protests ignited by the killing of George Floyd in the US, have thrust racial, ethnic and gender inequality into the spotlight. Financial ...
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Data doubts undermine treasury use of risk quantification

A recent report from Greenwich Associates found that 60% of corporate treasury professionals felt it was not possible to establish best practices for FX. Yet only one in five of the large ...
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Dimon calls time on trading – and higher loan provisions

JPMorgan and Citigroup are the two biggest fixed income dealers and their second-quarter results on Tuesday confirmed another surge in debt trading revenues. JPMorgan generated $7.3 billion of fixed income trading revenue ...
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Cryptos crash but never die, and funds of funds can profit

On July 6, the Financial Conduct Authority (FCA), licensed Crypto Facilities, the largest cryptocurrency futures exchange in Europe, as a fully recognized multilateral trading facility (MTF). The company – which offers a ...
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Reasons to be fearful: bank second-quarter results

With the second quarter of 2020 drawing to a close and all the new alternative data footfall trackers showing economic activity picking up in the US and Europe, investors are starting to ...
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Macaskill on markets: Deutsche Bank veterans at SoftBank give Germany Inc another kick with Wirecard trade

An unusual investment in stricken German digital payments firm Wirecard that was structured last year by executives at SoftBank’s Vision Fund helped the company to fend off doubts about its viability for ...
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Payments fraudsters spy Covid-19 opportunity in strained supply chains

In March, Interpol revealed details of a criminal scheme involving compromised emails, advance-payment fraud and money laundering across Germany, Ireland and the Netherlands. The case involved two sales companies in Zurich and ...
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Did Germany’s KfW support scheme fail?

Despite offering twice as much liquidity to corporates as everyone else, Germany has extended fewer state-backed coronavirus emergency loans than any other big economy in Europe. France, Spain, the UK and Italy ...
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Supply chain finance: Digital freight forwarding is on the move

The potential of services that combine trade finance and freight services has been understood for some time. In a 2018 report, Boston Consulting Group estimated venture capitalists had poured more than $3.3 ...
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Wirecard: a transparent opportunity for the Philippines

One of the stranger elements of the Wirecard scandal has been the involvement – or, apparently, lack of involvement – of the Philippines in handling much of the troubled payment processor’s disputed ...
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Zut alors! SocGen may face bigger equity derivatives challenges than peers

Selling volatility is a dangerous game. Having a little of it around is a good thing, to encourage clients to buy the stuff that your structured equity division churns out. Too much ...
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Country risk: Côte d’Ivoire is down but not out

Euromoney’s Q1 2020 global risk survey saw many countries downgraded, as analysts rapidly digested the effects of the coronavirus pandemic. Countries falling sharply through the global risk rankings included Lebanon, Liberia, Argentina, ...
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How can banks balance stakeholders and Covid-19?

For banks, the potential conflict between local community loyalty and the interests of both prudential supervisors and international investors is not new. But, especially in Europe, the coronavirus crisis is making it ...
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Planet of the Humans: Beware the environmental capitalists

Earth Day came and went largely indoors this year for much of the planet, with the television providing re-runs of anything by David Attenborough to inspire us to look after our environment ...
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Coronavirus and investment banking: Dimon shines while Solomon stumbles

Jamie Dimon, CEO of JPMorgan Jamie Dimon changed the format of his annual shareholder letter, which was published on Monday, to focus on the challenges of the coronavirus crisis. He made the ...
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Coronavirus crisis offers green and social bonds chance to prove their worth

The ups and downs of green bond issuance Green bonds have held up relatively well in the market turmoil of recent weeks. The ICE BofA Green Bond Index lost 5% in total ...
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As Tidjane Thiam leaves, Credit Suisse has much to be grateful for

Credit Suisse's Tidjane Thiam and Urs Rohner Yesterday evening the board of directors of Credit Suisse unanimously accepted the resignation of chief executive Tidjane Thiam. The official announcement does not make clear ...
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Turkey’s vulnerability is not a shock to risk experts

Foreign-exchange earnings from tourism in Turkey could fall below $10 billion this year, compared with $34.5 billion in 2019 Coronavirus could not have happened at a worse time for Turkish investors hoping ...
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Financial inclusion: Mexico is missing a move to digital banking

When the history of the coronavirus’s impact on Latin America is written, it will highlight the acceleration that the virus had on the shift to digital banking and the subsequent economic impact ...
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Nubank growth hits another level as pandemic drives digital in Brazil

The shift to digital platforms has been a pronounced feature of the global pandemic – with tech stocks hugely outperforming stock market benchmarks throughout the world – but in emerging markets there ...
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Sideways: Goldman Sachs and politics – DJ D-Sol may regret crossing AOC

Goldman Sachs chief executive David Solomon contributed $5,600 to Michelle Caruso-Cabrera, a former CNBC journalist who challenged Alexandria Ocasio-Cortez in the recent Democratic primary election for the 14th congressional district in New ...
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Katana sees relative value survive the bond market convulsions

As June drew to a close, with equities selling off on fears of a second wave in China and increasing cases in the US and Germany, the new supply of investment-grade and ...
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Oscar-winning documentary maker to use securities tokens for funding

March of the Penguins' Oscar-winning filmmakers in 2006, with Luc Jacquet second from left Remember the film March of the Penguins? It charts the yearly journey of emperor penguins to their breeding ...
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Bricks and mortar retail is living on borrowed time

Most financial crises are either seeded in the real estate market or are amplified there. The current one began as a healthcare emergency and has rapidly morphed into a financial shock, but ...
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