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

South-East Asia’s future looks prosperous but illiberal

THE young woman with the microphone cajoles, hectors and wheedles customers with the breathless enthusiasm of a livestock auctioneer at a county fair. She is standing behind a table stacked high with blue jeans; most of the milling crowd is dressed in lungyis, Myanmar’s skirt-like national dress. The fancy mall around them is anchored by a huge...

South Korea is losing faith in an elitist education system

Universital values “IF YOU don’t have the ability then blame your parents,” wrote Jung Yoo-ra on social media in 2014, after being accepted into a prestigious university. Her mother, it turns out, had gone to great lengths to secure a spot for her, inducing Ehwa Women’s University to alter its admissions policy in a manner tailor-made for...

Indonesian Islamists open a new front in their war on tolerance

CORNELIS, the 63-year-old governor of West Kalimantan, a province in Indonesian Borneo, is relaxing in jeans and a stained white vest at a table piled withkrupuk crackers and other local snacks. Portraits of the governor and his wife posing with prize-winning vegetables (both are keen gardeners) decorate the walls of the family home in Ngabang,...

Winning the war with IS in the Philippines, but losing the peace

THE Philippine army has been fighting for two full months to take back control of the southern city of Marawi from a violent and determined coalition of jihadist groups. The battle for Marawi, a mainly Muslim city of 200,000 with a lush lakeside setting and a proud sense of its culture, erupted when the government got word that Isnilon Hapilon...

No one is well-served by sexism in Japan

AT FIRST glance, Sora Tob Sakana is aimed squarely at the pre-teen market. After all, the pop group’s four members are 14- to 16-year-old girls who sport ponytails and cutesy frilly dresses and pump out bubblegum tunes accompanied by wobbly dancing. Yet at a festival of similar “idol” bands in Yokohoma on July 9th, the fans were mostly single...

Europe

ECB appoints Hans-Joachim Klöckers and Massimo Rostagno as Directors General

PRESS RELEASE26 July 2017Hans-Joachim Klöckers becomes Director General Economic DevelopmentsMassimo Rostagno becomes Director General Monetary PolicyAppointments effective as of 1 August 2017The Executive Board of the European Central Bank (ECB) has appointed Hans-Joachim Klöckers as Director General Economic Developments and Massimo Rostagno as...

Sabine Lautenschläger: Sabine Lautenschläger: 100 years of women’s suffrage – gender equality, freedom and democracy

Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at an event marking the run-up to the centenary of women’s suffrage in Berlin, 26 July 2017“What we don’t want and what we’re not aiming for, never, not even centuries from now, is political emancipation and equality...

ECB seeks to increase transparency of euro area pension fund sector

PRESS RELEASE26 July 2017ECB publishes, for public consultation, the draft regulation on statistical reporting requirements for pension funds The draft regulation is aimed at increasing transparency in this fast-growing sector of the financial services industryThe period of consultation runs from today until 29 September 2017The European Central Bank...

Pictet AM names head of Total Return Equities

Pictet Asset Management, the asset management arm of Swiss financial group Pictet, has appointed Doc Horn (pictured) as head of Total Return Equities. Horn joined the company at the start of July. Based in London, he… ...Read More

French asset manager unveils flexible FoF

Strasbourg-based investment firm La Financière Galilée has launched a flexible fund of funds, Galilée Fund Picking Strategy on 10 July 2017. The fund will fully rely on external fund selection operated by Roni Michaly, head… ...Read More

Mena

A new drug of choice in the Gulf

Not the real thing THE traditional way is not always the most successful. Saudi Arabian border guards this month arrested a Sudanese man accused of smuggling more than half a million drug tablets into the kingdom from Jordan on the back of a camel. Just as tastes in food and drink vary from region to region, so do preferences for drugs. The one...

De-escalation in Syria

WHEN a group of teenage boys scrawled “down with the regime” on their school wall they lit the powder that ignited Syria’s civil war. Ever since their torture at the hands of state-security agents in March 2011, the boys’ home city of Deraa has become synonymous with the rebellion to overthrow the regime of Bashar al-Assad. But Deraa may...

To escape repression, critics are leaving the Gulf

FOR two years Ghanem al Masarir al-Dosari, a Saudi satirist, has fronted an online comic look at the news in a show called “Fadfada” (Natter), which pokes fun at his kingdom’s royal highnesses. He portrays the young crown prince and de facto ruler, Muhammad bin Salman, in nappies, and calls him “al-dub al-dasher”, loosely translated as...

Would-be successors to the ailing Nigerian president are circling

Osinbajo the loyal POLITICS is the survival of the fittest, and Nigeria is no exception. “The Hyenas and the Jackals will soon be sent out of the kingdom,” the first lady, Aisha Buhari, wrote on Facebook on July 10th, in response to a senator who had described her husband as “the absent Lion King”. Muhammadu Buhari has been in London being...

China goes to Africa

IN CRISP white uniforms and standing to attention beneath a fluttering red flag with five golden stars, the sailors on board the People’s Liberation Army ships setting sail for Djibouti on July 11th represent a significant step for China. When they arrive they will open the Middle Kingdom’s first military base abroad since the Korean war. It...

International

Britain to Ban New Diesel and Gas Cars by 2040

LONDON — Scrambling to combat a growing air pollution crisis, Britain announced on Wednesday that sales of new diesel and gas cars would reach the end of the road by 2040, the latest step in Europe’s battle against the damaging environmental impact of the internal combustion engine.Britain’s plans match a similar pledge made this month by France,...

Economic Trends: Maybe We’ve Been Thinking About the Productivity Slump All Wrong

American businesses are doing a terrible job at making their workers more productive.Productivity growth is the weakest it has been since the early 1980s — only 0.8 percent a year over the last half a decade, compared with 2.3 percent on average from 1947 to 2007. This is the root cause of slow growth in both G.D.P. and worker pay.At least, that is...

Some Bitcoin Backers Are Defecting to Create a Rival Currency

SAN FRANCISCO — For the last two years, rival factions have been vying for control of the Bitcoin virtual currency and its global network of computers and supporters.Now, one of the main camps is preparing to break off and create a competing version of Bitcoin.A group of investors and entrepreneurs, most of them based in Asia, have announced a plan...

Economic Scene: To Punish Putin, Economic Sanctions Are Unlikely to Do the Trick

Eduardo PorterECONOMIC SCENEKim Jong-un was still in college in 2006 when the United Nations Security Council, in a resolution drafted by the United States, imposed economic sanctions on his father’s regime to stop North Korea from becoming a nuclear power.Washington enlisted the cooperation of China, the only country with the capacity to sever North...

Abysmal Financial Literacy Rates For Women Are Hurting Their Retirement Security

Retirement income literacy rates are shockingly low among retirement age women. The low literacy levels are negatively impacting the retirement security of women. Women can improve their situations by taking a more proactive role in financial planning and seek out help from a qualified advisor.Read More