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

Fiji’s coup-makers act democratic

PERPETRATORS OF COUPS tend to do badly at the polls. Those who start their political careers as soldiers seldom adjust easily to life as elected politicians. Frank Bainimarama seems to be an exception. A former head of the armed forces who seized power in a coup in 2006, he won a general election on November 14th, for the second time in a row,...

India’s long-awaited nuclear-armed submarine goes on its first patrol

WHEN, IN EARLY November, INS Arihant surfaced off India’s east coast, its submariners breathed in the claggy air of the Bay of Bengal for the first time in almost three weeks. They may also have breathed a sigh of relief. Although the Indian authorities are understandably cagey about the details, the sub is believed to have carried as many as...

Indonesia’s prisons will soon start spawning even more jihadists

AMAN ABDURRAHMAN was first arrested in 2004 following an accidental explosion during a bomb-making class near Jakarta. But his career as a jihadist really got going in prison, where he has spent 12 of the subsequent 14 years. Until recently Mr Aman was able to run a militant propaganda campaign from his cell. He translated some 115 articles from...

How Japan’s prime minister plans to cope with daunting demography

“THE DECLINE of the birth rate and the ageing of Japanese society is accelerating at unprecedented speed,” warns Shinzo Abe, Japan’s prime minister. Given the scale of the problem, he told The Economist this week, the government must push for “impactful policies” to tackle it right away. He mentions a series of reforms, intended to boost...

Imelda Marcos is found guilty of corruption, but not imprisoned

Her accounting was slipshod SURVIVORS OF THE tyrannical and rapacious regime of Ferdinand Marcos, strongman of the Philippines from 1965 to 1986, are rejoicing at the prospect of his widow, Imelda—famous for her vast shoe collection—soon having to don prison-issue plastic sandals. On November 9th the special court that tries cases of official...

Europe

What China talks about when it talks about stimulus

THE CAREER of China’s biggest property tycoon can be divided into two stages. Xu Jiayin started slowly, focusing on Guangzhou, a southern city. Then came the global financial crisis and the government’s response, a giant economic stimulus, launched a decade ago this month. For Mr Xu it was a signal to become far bolder. His company, Evergrande,...

The oil price swings dramatically

THE OIL price was supposed to be soaring around now. With American sanctions against Iran taking effect earlier this month, exports from that country, the world’s fourth-largest producer of crude oil last year, were expected to shrink to close to zero. In anticipation the price of Brent crude, the international benchmark, went above $86...

Superstar cities have a big advantage in attracting high-paying jobs

IN THE END, Amazon disappointed everyone. A year ago the e-commerce giant said it would open a second headquarters, and solicited bids from cities keen on the 50,000 new jobs and $5bn in investment it would bring. The gambit might have produced a fascinating experiment in urban development, and a departure from the concentration of top tech firms...

Should investors diversify away from America?

IN THE MID-1980S Carol Goland spent two years in the Andes. The subsistence farmers she studied in Cuyo Cuyo, in Peru, planted as many as 20 fields scattered around the mountain. They used up precious calories going back and forth between each field. Yet on closer inspection, this pattern had a logic to it. Crop yields varied widely from field...

A study measures the cost of lack of competition

What’s Italian for sticker shock? THAT COMPETITION keeps prices down is well known. But it is hard to measure by just how much, because prices vary for all sorts of reasons, from differences in labour costs and rents to taxes. Rising to the challenge is a new paper in The Economic Journal by Giacomo Calzolari, Andrea Ichino, Francesco Manaresi...

Mena

The Gambia grapples with the legacy of its former dictator

WHEN JENEBA heard that Yahya Jammeh, then president of the Gambia, had found a cure for AIDS, she tossed away her medicines and signed up for his treatment programme. Every morning she and hundreds of others went to his private clinic. The president, dressed in white and often waving a Koran, would massage creams into her face. Nurses gave her...

Cocoa processing is not a golden ticket for west Africa

IN 1876 TETTEH QUARSHIE, a blacksmith, smuggled the first cocoa beans into Ghana, hidden beneath his box of tools. He is now celebrated as a national hero; his trees, planted in the hills outside Accra, are a tourist attraction. But did cocoa make him rich? “No,” says a guide. “He harvested for the first time, and then he died.” West Africans...

Conflict in the Gulf is hurting Dubai

Stormy times ahead DUBAI IS UNLIKE most of the Gulf’s sheikhdoms. Its economy thrives not on oil, but on tourism, trade and finance. Its patch of desert hosts one of the world’s busiest airports, its tallest skyscraper and the region’s biggest port at Jebel Ali. The pace of construction is dizzying. The emirate’s GDP is projected to grow...

An election looms in Israel

WHEN AVIGDOR LIEBERMAN became Israel’s defence minister in 2016, he vowed to eliminate the leader of Hamas within 48 hours. Two years later Ismail Haniyeh is still alive—and may have just helped eliminate Israel’s government. On November 14th Mr Lieberman (above, left) resigned, withdrawing his party from the ruling coalition over its supposed...

Designer vaginas are all the rage in Lebanon

“IN THE GULF the ladies want a big butt and a big vagina. Not the Lebanese. They want smaller vaginas. They are more like the Europeans: they want the labia inside.” So says Dr Hussein Hashim, a plastic surgeon in Beirut, as he sits behind a desk scattered with buttock implants. He and his colleagues perform surgeries with names like “The...

International

Scandals Catch Up to Private Chinese Hospitals, After Fortunes Are Made

ImageMansions built with wealth from the Putian network of private hospitals, behind a pair of farmers in the village of Dongzhuang in southern China.CreditCreditBryan Denton for The New York TimesScandals Catch Up to Private Chinese Hospitals, After Fortunes Are MadeThe Putian network of 8,000 facilities, which expanded rapidly with little government...

Facebook Cuts Ties With Washington Firm That Sought to Discredit Social Network’s Critics

Facebook Cuts Ties With Washington Firm That Sought to Discredit Social Network’s CriticsImageA Facebook logo reflected on an advertisement board outside the United States Capitol in Washington in October. Facebook had initially hired Definers Public Affairs, a consulting firm, to monitor news about the social network.CreditCreditTom Brenner for...

What Tesla’s ‘Delivery Logistics Hell’ Is Like for Model 3 Buyers

What Tesla’s ‘Delivery Logistics Hell’ Is Like for Model 3 BuyersImageJim Fyfe in his empty garage in Jacksonville, Fla. Twice, he said, he went to pick up a Tesla Model 3 he was told was ready, but both times he came home without one.CreditCreditCharlotte Kesl for The New York TimesBy Neal E. BoudetteNov. 15, 2018Elon Musk has described...

California Utility Customers May Be on Hook for Billions in Wildfire Damage

California Utility Customers May Be on Hook for Billions in Wildfire DamageImageInvestigators have yet to determine the cause of the Camp Fire, which has killed at least 56 people. Many fires in recent years have been caused by downed power lines serving California’s utilities.CreditCreditJenna Schoenefeld for The New York TimesBy Ivan Penn and...

Facebook Cuts Ties With Definers Public Affairs Following Outcry

Facebook Cuts Ties With Definers Public Affairs Following OutcryImageA Facebook logo reflected on an advertisement board outside the United States Capitol in Washington in October. Facebook had initially hired Definers Public Affairs, a consulting firm, to monitor news about the social network.CreditCreditTom Brenner for The New York TimesBy Mike Isaac...