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

Indian stoners face a moral crusade

ONE MIGHT expect India to be at peace with marijuana. Before time itself, the god Shiva is supposed to have discovered the stuff. He sits high in a mythical Himalayan abode, eating gobs of it while pondering the mysteries of the universe; so do religious mendicants who emulate him today. Victorian India exported ganja to Jamaica with indentured labourers...

A hard task ahead for Jacinda Ardern’s new government

EVERYONE KNEW that the Labour Party would win. But even its leader, Jacinda Ardern, seemed startled by its landslide victory in New Zealand’s general election on October 17th. Ballots must still be counted from prisoners and expats, but so far Labour has mopped up 49% of the vote, compared with 27% for the main opposition, the conservative National...

The pandemic has exposed South-East Asia’s poor governance

IT HARDLY FOLLOWED the script intended by Thailand’s army-backed government. In the face of growing demonstrations calling for the resignation of the prime minister, a new constitution and a reformed monarchy, on October 15th the government imposed a “severe” state of emergency, banning gatherings of more than five people. Far from being cowed,...

North Korea is lonelier than ever

IT WAS SATURDAY morning on the Korean peninsula and Friday evening in America when pundits and policymakers around the world tuned into North Korean state television. They had hoped to watch a military parade in Pyongyang, the capital, to mark the 75th anniversary of the ruling party’s creation on October 10th. But instead of the expected display...

In Myanmar, Facebook struggles with a deluge of disinformation

MG MG KYAW can still remember the day he got his first mobile phone. It was 2012, and Myanmar was emerging from decades under the heel of a military junta. In a country where GDP per person was $1,000, SIM cards, which sold for as much as $2,000, were like gold dust. Only North Korea had fewer mobile phones per person. When a civilian government took...

Europe

Einigung über Wandteppich im Schloss Vianden in Luxemburg

Der flämische Wandteppich „Begegnung der Königin von Saba und König Salomon“ aus dem 17. Jahrhundert, der in der Nazizeit aus jüdischem Besitz zwangsversteigert wurde, hat seine endgültige Heimat gefunden. Die Erben der rechtmäßigen Eigentümerin Emma Budge wurden entschädigt.Read More

Schnell, sicher und umweltfreundlich von Tschechien nach Polen

Die Zugstrecke von Dětmarovice über Petrovice u Karviné an die tschechisch-polnische Grenze wird saniert – schon in zwei Jahren werden Bahnreisen von der Tschechischen Republik nach Polen schneller, sicherer und umweltfreundlicher.Read More

EIB begrüßt Startschuss zur Europäischen Rohstoffallianz

On 29 September, EIB Vice-President Ambroise Fayolle took part in the launch of the European Raw Materials Alliance. The creation of this industry-driven alliance is part of the European Commission’s Action Plan on Critical Raw Materials to reduce Europe’s dependency for non-energy raw materials used in industrial value chains through exploration,...

Rettet den Aralsee!

Was mit dem Aralsee passiert, gehört zu den größten menschengemachten Umweltkatastrophen unserer Zeit. Mehr als 33 Millionen Menschen sind unmittelbar von den verheeren ökologischen und wirtschaftlichen Auswirkungen in der Region betroffen. Die Lage ist ernst, aber noch sind die Schäden nicht irreparabel. Deshalb hat die...

Präsident Hoyer begrüßt slowakischen Finanzminister Heger als Vorsitzenden des Rates der Gouverneure und kündigt neue Förderung für Energieeffizienz an

EIB-Präsident Werner Hoyer hat heute Eduard Heger, den stellvertretenden Ministerpräsidenten und Finanzminister der Slowakei, als neuen Vorsitzenden des Rates der Gouverneure der Europäischen Investitionsbank (EIB) begrüßt.Read More

Mena

Khalifa Haftar is losing ground and lashing out in Libya

KHALIFA HAFTAR’S self-styled Libyan National Army (LNA) says it will cease fire for what remains of the holy month of Ramadan. But friends of General Haftar say he is doubling down on the civil war he started six years ago. His year-long siege of Tripoli, seat of the UN-backed Government of National Accord (GNA), has intensified of late. Groups loyal...

Saudi Arabia stops flogging

“THE FORNICATRESS and the fornicator—flog each of them with a hundred stripes; and do not let pity for them hold you back from carrying out God’s law.” So says the Koran, which dates back to the seventh century. Prince Muhammad bin Salman, the de facto ruler of Saudi Arabia, is trying to drag the kingdom into the 21st. So on April 25th the government...

Zambia was already a case study in how not to run an economy

“I FEEL YOUR PAIN,” said Edgar Lungu in a televised address on April 24th. The president of Zambia claimed that covid-19 had “thrown into disarray” the country’s finances. He mused about whether the government could afford to pay for pensions, civil-service salaries and medicine. “Where will the money come from?” It is a good question....

How Sudan’s warlords buy their gun trucks

THE TOYOTA HILUX is a sturdy vehicle. That makes it especially popular in Africa. It outsells all other pickup trucks, or “bakkies”, in South Africa. In Mali and Niger smugglers transporting people and goods across the Sahara will accept no alternative, since they can cram 30 people onto one and can still climb a sand dune. It is also a familiar...

Some African politicians risk spreading covid through quackery

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For our coronavirus tracker and more coverage, see our hub MANY AFRICAN politicians are fighting covid-19 with tools prescribed by science. South...

International

Why the Best G.D.P. Report Ever Won’t Mean the Economy Has Healed

The United States almost certainly just experienced its fastest three months of economic growth on record. That doesn’t mean the economy is strong.The Commerce Department on Thursday will release its preliminary estimate of economic growth for the third quarter. Economists surveyed by FactSet expect it to show that gross domestic product — the broadest...

Recession’s Silver Lining: American Households Are Doing Better Than Expected

For months, Americans have barely dined at restaurants or traveled for vacation. There have been no ballgames or concerts to attend. Gym and other memberships mostly remain frozen.Forced into lockdown mode by the coronavirus, people put big purchases on hold and scaled back their spending. Around the same time, mortgage lenders, student loan collectors...

Airbnb Fights Its ‘Party House Problem’

The luxury cabin in Incline Village, Nev., just north of Lake Tahoe, has a hot tub, sauna, pool table, fire pit, two patios and a backyard full of towering pine trees. It sleeps 14, according to its listing on Airbnb. And it has been a nightmare for Sara Schmitz, a retiree who lives next door.The home is frequently the site of raucous bachelor parties...

A.M.D. Agrees to Buy Xilinx for $35 Billion in Stock

SAN FRANCISCO — Advanced Micro Devices agreed to pay $35 billion in stock for Xilinx, a deal aimed at reshaping one of the computer chip industry’s pioneers.A.M.D., known mainly as Intel’s longtime rival in microprocessors that power most computers, plans to use the acquisition to broaden its business into chips for markets like 5G wireless communications...

Stocks Slide as Virus Cases Surge

Here’s what you need to know:A rise in coronavirus cases in the United States, new restrictions on activity in Europe and a standoff in Washington over economic relief for struggling businesses and out-of-work Americans left investors reeling on Monday.The S&P 500 fell about 1.9 percent after recovering some ground in afternoon trading. Still,...