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

Don’t be fooled by the new calm on the Korean peninsula

AFTER a summer lull, the whirlwind of North Korea-centred diplomacy that marked the first half of the year is about to resume. This week officials from North and South Korea met at the truce village of Panmunjom in the demilitarised zone on the border and declared that their leaders would meet, for the third time, in Pyongyang, the North Korean...

Malaysia’s new leaders have found their first 100 days tough

IT IS about 100 days since the leadership of Malaysia changed hands after 61 years of rule by one party. The electoral victory in May of Pakatan Harapan (PH), a coalition of parties, startled many people in Malaysia and beyond. The upset also surprised PH itself. Most members of the cabinet are still struggling to get the hang of what being in...

In the Philippines, church bells may heal old war wounds

In an air-force base in Wyoming, for now THE last time any of the bells of the Church of St Lawrence the Martyr rang out in the central Philippine town of Balangiga was in 1901. Spain had ceded the Philippines to America three years earlier. Filipino independence fighters regarded American soldiers first as liberators to be welcomed, but later as...

The shortcomings of India’s police are not entirely their fault

At least their uniforms are spotless EVERY summer across north India, millions of Hindu youths honour Lord Shiva by travelling to the sacred Ganges to collect holy water for anointing the Shiva lingams in their local temples. The pilgrims travel on foot and use a wooden yoke or kanvar to balance two small buckets. But though the sight of orange-clad...

Afghanistan’s government retakes a strategic town

SOME time after midnight on August 10th, residents of Ghazni, a large town straddling one of Afghanistan’s busiest road arteries, awoke to the rattle of intense gunfire. By morning it was clear that an invading force of Taliban fighters had reached the city centre. Only after four days of fighting, the dispatch of 1,000 Afghan army reinforcements...

Europe

Litigation finance offers investors attractive yields

CONTINGENT fees, in which clients pay lawyers only if a case is won, have long been a feature of America’s legal system. Many other countries used to bar them, wary of importing America’s ambulance-chasing culture. But a belated acceptance of their benefits means they are now widely allowed. “No-win, no-fee” arrangements help shift risks...

How to design carbon taxes

ECONOMISTS view pricing greenhouse-gas emissions as an elegant way to reduce them. There are more than 70 national and regional schemes, covering perhaps a fifth of global emissions, which charge polluters for the carbon dioxide they belch out. But that leaves an awful lot of the world to be convinced of the merits of such schemes. Sceptics point...

Australia’s lauded private-pension system is under scrutiny

High fees down under PAUL KEATING, a former prime minister of Australia, calls the country’s superannuation system “the envy of the developed economies”. In many ways, it is. The “super”, as Aussies call their private-pension provision, was a crowning achievement of Mr Keating’s premiership. In 1992 he made it compulsory for employers...

Life-insurance policies with perks make it to America

PEOPLE only contact their insurers when things go wrong and they need to make a claim. This generally means losses for the insurer. It also means stress and hassle for the customer. In order to mitigate both problems, insurers increasingly offer extra services alongside their bog-standard policies. Aviva, a British insurer, for instance, installs...

New software helps uncover Mafia crime masked as ordinary business

The code breaks the silence FOR an inkling of how hard it is for Italian authorities to identify Mafia activity, consider how mobsters disguise the pizzo, or protection payments, they extort. The owner of a business may find that customers have been scared off by a menacing stranger. Within days a mysterious man visits. He may request a regular...

Mena

Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain

Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum. Held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrainand the strategic partnership of the Central Bank of Bahrain, the World Islamic Banking...

Saudi Arabia picks a pointless fight with Canada

QUEBEC’S proudly Francophone separatists may want to learn some Arabic. On August 5th, as Canadians enjoyed a long weekend, Saudi Arabia abruptly expelled their ambassador and froze bilateral trade and investment. Its state-run funds have reportedly been ordered to dump their Canadian assets, no matter how much it costs to do so. The kingdom...

Is the Western Wall falling down?

Between a rock and a holy place EVER since the Roman army tried to topple it in the 1st century, knocking a few slabs from the top, the Western Wall in Jerusalem has remained largely intact. A relic of the second Jewish temple, most of which the Romans did destroy, the wall attracts thousands of Jewish worshippers each day. One called Daniella Goldberg...

A crackdown in Zimbabwe exposes the instability of the Mnangagwa regime

Who ordered this? IN THE early hours of August 5th four men broke into a house in eastern Zimbabwe known to be home to activists for the MDC Alliance, the country’s main opposition bloc. They dragged the husband and wife outside before beating them with sticks on their back and buttocks. Two of the assailants took turns raping the wife; the other...

A bubbling Islamist insurgency in Mozambique could grow deadlier

RESIDENTS of Naunde village were woken by gunshots at around 2am on June 5th. Two of the attackers carried guns. The other three, armed with machetes, set houses on fire. Then they chased down a local chief and hacked off his head in front of horrified neighbours. They also killed six others, including an Islamic leader whom they beheaded in a...

International

Vitamin D, the Sunshine Supplement, Has Shadowy Money Behind It

ImageCreditYuta OnodaSectionsSkip to contentSkip to site indexVitamin D, the Sunshine Supplement, Has Shadowy Money Behind ItThe doctor most responsible for creating a billion-dollar juggernaut has received hundreds of thousands of dollars from the vitamin D industry.CreditYuta OnodaDr. Michael Holick’s enthusiasm for vitamin D can be fairly described...

Trade War Worries Iowa Republicans in a Close House Race

Trade War Worries Iowa Republicans in a Close House RaceImageBoyd Trueman grinds down some welds at Curbtender, which makes garbage trucks, in Cedar Falls, Iowa. The unemployment rate in Iowa is one of the lowest in the country.CreditScott Morgan for The New York TimesBy Natalie Kitroeff and Ben CasselmanAug. 17, 2018CEDAR FALLS, Iowa — The unemployment...

Investors Betting Against Tesla Made $1 Billion on Friday

DealBook Business and PolicyInvestors Betting Against Tesla Made $1 Billion on FridayImageThe slide in Tesla’s shares after Elon Musk’s interview with The New York Times generated more than $1 billion in profits for short-sellers.CreditToru Hanai/ReutersBy Stephen GrocerAug. 17, 2018Get the DealBook newsletter to make sense of major business...

They’re Falsely Accused of Shoplifting, but Retailers Demand Penalties

Image“I didn’t feel like I had a prayer,” said Crystal Thompson of Eight Mile, Ala., whom Walmart accused — mistakenly, an employee later acknowledged — of shoplifting about $70 in groceries. A lawyer for Walmart threatened a lawsuit if she didn’t pay $200.CreditWilliam Widmer for The New York TimesSectionsSkip to...

Falsely Accused of Shoplifting, but Retailers Demand They Pay

Image“I didn’t feel like I had a prayer,” said Crystal Thompson of Eight Mile, Ala., whom Walmart accused — mistakenly, an employee later acknowledged — of shoplifting about $70 in groceries. A lawyer for Walmart threatened a lawsuit if she didn’t pay $200.CreditWilliam Widmer for The New York TimesSectionsSkip to...