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* MAIN MENU * FinanceEconomics & Development * * Banking & Finance CITIGROUP CEO JANE FRASER Jane Fraser, the CEO of Citigroup, is no stranger to glass ceiling and glass cliffs. Fraser, NEW YORK — THE PREEMINENT FINANCIAL DISTRICT “It was never built for the comfort and happiness of its citizens, but to astonish the SINGAPORE — THE LEADING FINANCIAL CENTRE IN THE ASIA-PACIFIC REGION Hear the Merlion roar. Singapore is the case study for a DIY global financial centre. It * Markets TIGHTENING FINANCIAL CONDITIONS BRING IMPACTS TO ASSET VALUES In the first half of this year, US stock markets suffered a fall not seen in BIGGEST COMMODITY PRICE SHOCK IN 50 YEARS IS HERE In addition to death and destruction in Ukraine, the Russian invasion brought several significant shocks to CRYPTO JITTERS: UNHINGED STABLECOINS ADD VOLATILITY TO AN ALREADY UNSTABLE MARKET The dig is impossible to resist. On Thursday, tether – the world’s biggest ‘stablecoin’ – briefly * SMEs ABDULLAH AL-OTHMAN & GEIDEA: FINTECH SUPPORTS SMES AND SAUDI VISION 2030 Abdullah Al-Othman is the founder and chairman of Geidea, a leading fully licensed provider of digital VM FINANCE POISED TO LEAD PROPERTY FINANCING FOR SMES VM Finance entered the non-bank specialist funding industry in 2018, armed with a wealth of experience CBRE: APPROACHING SHADOWS OF DATA OPACITY AND RISK FROM FLEXIBLE OFFICE MARKET We live in a world that offers and value tailored convenience. We are accustomed to the * Economics & Convergence OTAVIANO CANUTO: SOME ECONOMIES MAY SOON FACE A HARD LANDING Weaker performance of emerging markets is expected in the immediate future. This year began with simultaneous GLOBAL IMBALANCES AND THE PANDEMIC The International Monetary Fund’s tenth annual External Sector Report (ESR, August 2021) shows how current account WORLD BANK ON SUSTAINABLE RECOVERY: THE NEED FOR LONG-TERM FINANCING The COVID-19 pandemic is affecting every country’s health system and economy to a degree not seen * SustainabilityBusiness Environment * * CSR THE LONG-TERM GROWTH OF SUSTAINABLE INVESTING In April 2013, the concrete roof of a dilapidated factory in a densely populated district of POLLEN STREET CAPITAL – ALL PLAYERS ARE PART OF THE SOLUTION: PROCEED WITH PURPOSE TO MAXIMISE ESG IMPACT Pollen Street Capital is a purpose-led asset manager whose overarching purpose is to deliver long-term sustainable FITCH RATINGS: ENDURING FOCUS ON ESG AND SUSTAINABILITY PROJECTS AT LEADING CREDIT RATINGS PROVIDER For over a century, Fitch Ratings has been building and creating value for global capital markets * Energy REBECCA CARTER: WISE WORDS ON SOLAR ENERGY Since becoming Global Managing Director of three and a half years ago, Rebecca Carter and her KARL FREDRIK-STAUBO – YOUTH, ENERGY, AGILITY, & THE COURAGE OF CONVICTION: MEET THE GOLAR GO-GETTERS As the youngest CEO of a NASDAQ-listed company, Karl Fredrik Staubo brings energy and verve to REBECCA CARTER, WISEENERGY: ALIGNING THE STARS TO CREATE A SMART SOLAR SYSTEM When Rebecca Carter joined WiseEnergy as COO in February 2019, she was seeking to return to * Innovation & Technology TRUSTING AI IN INTERNATIONAL TRADE — THE ROAD TO FAILURE, OR THE FUTURE? Lord Waverley dons his techie hat and has a closer look at the potential applications of PAOLO SIRONI, IBM: 7 BETS FOR 7 TRENDS THAT’LL FUTURE-PROOF INDUSTRIES AND SOCIETY From generative AI to quantum technology, things are moving on a-pace. When US President John F ORACLE CEO SAFRA CATZ Tech bros beware, there’s a new queen of the cloud. Safra Catz, the head of operations * Governance & Legal NORVESTOR: SEEING — AND SEIZING — THE FULL POTENTIAL OF ESG Private equity firm Norvestor has partnered with Nordic businesses for more than three decades. It has EY: ARGENTINA’S NEED FOR TAX REFORMS, AND HOW THEY COULD BE ACHIEVED The current Argentine macroeconomic situation is characterised by Covid-19 recession, inflation, record tax pressure, a reduction CO-OP LEGAL SERVICES: OPPORTUNITY AND OPTIMISM ABOUND IN THE EXCITING LEGAL SERVICES SECTOR Co-op Legal Services, which is part of the Co-op Group, offers legal advice and services for * PerspectivesEssays & Columns * * Multilaterals UNCDF: TIME TO ‘YOUTH-UP’ – THE STATUS QUO SIMPLY HAS TO BE ADJUSTED “It’s time to sustainably invest in youth affairs and future generations”, argues Edoardo Tancioni. As the WORLD BANK: TACKLING DEVELOPMENT CRISIS THROUGH FINANCIAL INNOVATION The World Bank uncovers fresh avenues to increase financing capacity. Global development faces multiple crises: Growing OECD: SUSTAINABLE DEVELOPMENT AND CLIMATE CHANGE REQUIRE MORE THAN JUST MONEY Blended finance could hold the key to overcoming major world challenges. Financing the UN’s Sustainable Development * Columnists TRUSTING AI IN INTERNATIONAL TRADE — THE ROAD TO FAILURE, OR THE FUTURE? Lord Waverley dons his techie hat and has a closer look at the potential applications of OTAVIANO CANUTO: MACRO-ECONOMIC POLICY CHANGE – WE’RE NOT IN KANSAS ANY MORE The possibility of multiple financial shocks lies ahead. Three significant changes to the macro-economic policy regime OTAVIANO CANUTO: GOING AROUND THE BEND? ASSESSING THE PHILLIPS CURVE MAY BE OF HELP Unemployment and wage rates are theoretically linked, and may hold a key to our immediate economic * Lifestyle A ONE-DAY COMMITMENT FOR A LIFETIME OF FREEDOM The gateway to a Greek golden visa in just one day? Emelia Beeson reports on a LIFE ON AN OCEAN WAVE (KEPT AFLOAT BY SEA OF BANKNOTES) ‘All I need is a luxury superyacht, and a star to steer her by…’ It’s official: THE ‘MIRACLE’ PLANT ONCE HAILED AS A CURE FOR CANCER: TOBACCO’S RISE … AND FALL We’ve come a long way from the first importation of nicotiana tabacum, through early praise and * PeopleHeroes & Leaders * * Heroes STEVE FECHHEIMER: BREWING UP A STORM TO COMBAT CLIMATE CHANGE New Belgium’s craft beers were inspired by a bike ride, first brewed in a basement, and PATRIK LUNDSTRÖM: BREAK ON THROUGH TO THE GREEN SIDE OF CLOTHING PRODUCTION… Every entrepreneur wants to build a business on a breakthrough process; not many have done so. LUTZ SCHWENKE: LIFE — AND BUSINESS — ON AN OCEAN WAVE Devon has some of the best surfing beaches in the UK — a fact which may * Editor’s Ten DENISE COATES EARNS MORE THAN ELON MUSK, WOULD YOU BELIEVE? British business leader Denise Coates is the highest-earning woman in Britain — testament to the fact ELAINE YAN LING NG: DESIGNER EGGED-ON BY NATURE’S POTENTIAL FOR UNIQUE BEAUTY The design world often looks to nature for inspiration, and Elaine Yan Ling Ng, a traditional MAHENDRA SINGH DHONI: CAPTAIN COOL MEETS HIS YOUNGER SELF TO PASS ON BUSINESS TIPS Mahendra Singh “MS” Dhoni, one of India’s most celebrated cricket players, has earned the nickname “Captain * Corporate Leaders PAVILION GLOBAL MARKETS: GLOBAL RECOGNITION IN TWO NICHE SERVICES, TRANSITION MANAGEMENT AND GLOBAL PORTFOLIO STRATEGY Pavilion Global Markets Ltd was founded in Canada more than 50 years ago as an institutional, A NEW ERA FOR KUWAIT INTERNATIONAL BANK: ARCHITECTING THE FUTURE OF TECHNOLOGY-BASED BANKING Digital renaissance in the global banking sector was well underway prior to the COVID-19 pandemic. In MULTIPLY MARKETING CONSULTANCY WITH SAMIA BOUAZZA AT THE HELM: ALWAYS PREPARED, ARMED WITH THE LATEST TECH, DETERMINED TO BE THE BEST “Abu Dhabi residents. International specialists. Critical thinkers. Problem solvers. Marketing connoisseurs. Trained to get straight to * Portraits ELAINE YAN LING NG: DESIGNER EGGED-ON BY NATURE’S POTENTIAL FOR UNIQUE BEAUTY The design world often looks to nature for inspiration, and Elaine Yan Ling Ng, a traditional INTERVIEW WITH GRETE FAREMO, EXECUTIVE DIRECTOR OF UNOPS: INCLUSIVE INFRASTRUCTURE DEVELOPMENT In pre-pandemic Oct 2019 (about 20 months ago) you wrote an article for CFI.co magazine that DAME JESSICA ENNIS-HILL: ‘CHEAP CHILDCARE’ LED TO WINNING ATHLETICS CAREER, JOKES ENNIS-HILL Britain’s most celebrated track and field athlete, Jessica Ennis-Hill, announced her retirement from professional sports at * LiteratureBook Reviews * * Reviews THINK BIG AND BUCKLE-UP FOR A FAST-PACED, PITHY MEMOIR Book Review: Kick Up Some Dust by Bernie Marcus The life and times of entrepreneur Bernie THE DAWN OF EVERYTHING: A NEW HISTORY OF HUMANITY – A NON-LINEAR ANARCHIST READING OF WORLD HISTORY It’s an ideology that inspires fear and loathing in equal measure. Anarchism or the conviction that SPRING READS: THREE BUSINESS BOOKS ON THE CFI.CO RADAR Naomi Snelling buries herself in some inspiring works that bring meaning — and more — to * Must-Reads THE DAWN OF EVERYTHING: A NEW HISTORY OF HUMANITY – A NON-LINEAR ANARCHIST READING OF WORLD HISTORY It’s an ideology that inspires fear and loathing in equal measure. Anarchism or the conviction that POLITICAL ORDER AND POLITICAL DECAY: FROM THE INDUSTRIAL REVOLUTION TO THE GLOBALIZATION OF DEMOCRACY “When the middle class constitutes only 20–30 percent of the population, it may side with antidemocratic POSTWAR: A HISTORY OF EUROPE SINCE 1945 CFI Must-Reads Title Postwar: A History of Europe Since 1945 Author Tony Judt ISBN 978-0-1430-3775-0 link * The Editor’s List LUTZ SCHWENKE: LIFE — AND BUSINESS — ON AN OCEAN WAVE Devon has some of the best surfing beaches in the UK — a fact which may THE KANDY-KOLORED TANGERINE-FLAKE STREAMLINE BABY “He sounded like Jean-François Revel, a French socialist writer who talks about one of the great THE GONZO PAPERS ANTHOLOGY “Absolute truth is a very rare and dangerous commodity in the context of professional journalism.” For * In-DepthExtended Coverage * * Hidden Gems MORTGAGES AGREED WITHIN SECONDS? THIS BANKER VAULTS DIGITAL FRONTIERS KBC Bank chief executive Johan Thijs has no truck with bureaucracy or time-wasting — but stays IN THE FACE OF GRIM CHALLENGES, UZBEKISTAN FORGES AHEAD ON PRIVATISATION Despite a pandemic, a European war involving its closest trading partner and the growing threat of UZBEKISTAN’S DYNAMISM PRESENTS NEW OPPORTUNITIES FOR POST-BREXIT BRITAIN Though 5,000 km apart, the UK, an economic leader in the world, and my emerging but * Business in Times of Corona ENERGY SECTOR GRAPPLES WITH HYDRA-HEADED PROBLEMS OF GLOBAL SUPPLY AND DEMAND At the recent COP-26 climate summit in Glasgow, government officials and leaders of international organisations put INFLATION, USED CARS, SILICON CHIPS AND SUPPLY-DEMAND: LINKS IN A WORRYING CHAIN Chips — no, not the potato or chocolate kind, the electronic ones – are a driving WORLD BANK: SUSTAINED GLOBAL SOLIDARITY NEEDED TO ACHIEVE GLOBAL COVID-19 RECOVERY The pandemic has affected virtually everyone in the world, but its impacts have been hardest on * World Economic Forum DAVOS: SEIZING THE MOMENT – OR NOT The man himself was unable to attend the proceedings in Davos – he has other commitments, WEF: BACK TO THE BASICS? Concerned over widening geopolitical fissures, the World Economic Forum (WEF) has embarked on a quest to DAVOS: TILL WE MEET AGAIN – BANKERS PACKING UP Dutch Finance Minister and President of the Eurogroup Jeroen Dijsselbloem is worried that the increased insularity * Special Features WORLD BANK MD AND CFO ANSHULA KANT: FINANCING WHERE IT MATTERS MOST Financing Where It Matters Most — People, The Planet, and the Role of Investors Amid overlapping PAUL HORROCKS, OECD: RISK, RETURN, IMPACT – SDG AIMS NEED A SHIFT OF FOCUS Russia’s war on Ukraine and interruption of global food supplies has put greater pressure on the OECD: ONLY SCALE AND DEVELOPMENT IMPACT WILL HELP US REACH THE SDG MOUNTAIN SUMMIT The development community is used to responding to crises but current events, not least COVID-19, have * AwardsExcellence * * Awards UAE IS RECOGNISED BY CFI.CO AS BEST FDI DESTINATION IN THE MIDDLE EAST Following presentation of the Annual Investment Meeting (AIM) Awards for FDI-agencies at a Gala Dinner at BRITISH AIRWAYS: BEST PREMIUM TRAVEL EXPERIENCE GLOBAL Unveiling a major investment drive to upgrade its long-haul business and premium economy class services, British UBS: BEST GREEN BANK SWITZERLAND An increasing number of businesses, including banks, are adapting their corporate structures and processes to incorporate * Africa SCHLUMBERGER NIGERIA: BEST SUSTAINABILITY AWARD In over forty countries, oilfield services company Schlumberger is actively engaged in promoting science, technology, engineering, THE CFI.CO AWARD FOR BEST HSE STANDARDS, WEST AFRICA, GOES TO MOBIL OIL NIGERIA PLC Mobil Oil Nigeria Plc traces its proud history back to 1907. This top petroleum products marketing OLD MUTUAL: BEST COMMUNITY ENGAGEMENT PROGRAMME, SOUTH AFRICA Responsibility is at the heart of Old Mutual’s success over the past 165 years and the * Asia Pacific BEST COMMERCIAL BANK, CHINA: CFI.CO NAMES CHINA MERCHANTS China Merchants Bank, headquartered in Shenzen and boasting 500 branches, is the CFI.co 2014 winner of COLOMBO STOCK EXCHANGE: MOST SUSTAINABLE GROWTH EXCHANGE ASIA With investor confidence solid and a booming economy, the Colombo Stock Exchange (CSE) is in a A TOUCH OF CLASS: CENTURY PROPERTIES GROUP WINS REAL ESTATE AWARD IN THE PHILIPPINES With a passion for quality in both service and product plus an uncannily keen sense for * Europe JULIUS BÄR GROUP: BEST PRIVATE BANK SWITZERLAND Managing the assets of private clients across the globe, Julius Bär Group maintains offices in over UBS: BEST GREEN BANK SWITZERLAND Picture a world in which large power plants spewing noxious fumes into the atmosphere have been NORDEA ASSET MANAGEMENT: ESG AWARD WINNER IN EUROPE According to the CFI.co Judging Panel, ‘Nordea well understands the benefits that accrue to investors when * Latin America BCI: OUR FUND MANAGER WINNER IN CHILE The CFI.co Judging Panel rates BCI Investment Management very highly and has announced that the award BOLSA DE VALORES DE COLOMBIA: BEST STOCK EXCHANGE, LATIN AMERICA The Bolsa de Valores de Colombia (BVC) – a private organisation – was established in 2001 THE ODEBRECHT FOUNDATION WINS CFI AWARD FOR COMMUNITY ENGAGEMENT, BRAZIL The Odebrecht Organisation is a very successful and highly diversified Brazilian group which is active in * North America MERCURY CAPITAL ADVISORS GROUP BEST FUND RAISING TEAM GLOBAL Mercury Capital Advisors Group have perfected flat management within the company, creating a team where everyone takes BANCO INTERACCIONES: OUR WINNER IN MEXICO FOR A SECOND YEAR The CFI Judging Panel would like to congratulate Banco Interacciones on repeating its triumph of last BNY MELLON: WINNER OF THE CFI.CO WEALTH MANAGER AWARD, US The CFI.co Judging Panel has named BNY Mellon as winner of the prestigious award, ’Best Wealth * Middle East SAUDI HOLLANDI: BEST SME BANK, KSA, FOR A SECOND YEAR The CFI.co Judging Panel is always delighted when winners repeat their success in subsequent years. It BENTLEY POWERS AHEAD IN CUSTOMER SATISFACTION: CFI.CO AWARD WINNER, MIDDLE EAST There has been powerful performance at Bentley Motors, Middle East this past year. Dubai is the UBP WINS THE CFI.CO PRIVATE BANKING AWARD, UAE Now that many of the global universal banks are returning to their core business and divesting * InitiativesCorporate & Events * * Events UNCDF: COP27 PLEDGES BIODIVERSITY FINANCE TO BOOST CLIMATE-CHANGE RESILIENCE Forests, coral reefs and populations most at-risk come into focus at 2022 summit in Egypt. “From WEF 2022: THE WORLD IS NO LONGER FLAT This week, a colourful cabal of cognoscenti gathered in Davos to offer diverse takes on the MAKING EXPO 2020 DEEPLY PERSONAL: HOW ACCENTURE HELPED PUT THE VISITOR AT THE HEART OF THE WORLD’S GREATEST SHOW When we first started working with Expo and Etisalat Digital over six years ago, they had * Projects SRI LANKA: RECOVERY, REDEMPTION & RE-BIRTH Ranil Wickremesinghe, Sri Lanka’s most resilient and experienced politician, was gifted his country’s presidency by his INTERVIEW WITH FIRAS SLEIMAN – PARTNER AND TECHNOLOGY, DIGITAL & CYBER LEADER AT PWC IN QATAR: DIGITAL LEADERSHIP About Qatar and Digital What technology or digital trends should the Qatari leader watch out for RESCUE BY HELICOPTER RESERVES The world woke up on Monday 23 with higher international reserves for all countries. A new * Start-Ups KICKSTART SEED FUND: FROM RECESSION TO CO-OPERATION Kickstart Seed Fund was founded in 2008. Yes, 2008 — and despite the recession, the company GAVIN CHRISTENSEN: SHARED VALUES AT KICKSTART MANAGEMENT Seed-stage venture capital firm Kickstart, founded by Gavin Christensen, started life in the 2008 recession — RECIPE FOR SUCCESS: BLEND INSPIRING PARTNERS WITH HARD-WORKING TEAMS AND HAVE A PROVEN ‘KILLER’ PRODUCT FasterCapital is an online incubator/accelerator diverse and inclusive global company whose expert team works with partners * Corporate A FOCUS ON PEOPLE AND PRODUCTIVITY HAS TAKEN THIS EL SALVADOR BANK TO NEW HEIGHTS — IN JUST THREE YEARS Brand new and eager to achieve noble ambitions, Banco Hipotecario is going from strength-to-strength Since June UNERRING DRIVE AND DETERMINATION PAY OFF FOR KUWAIT’S STOCK EXCHANGE Transparent, robust, and dedicated to ESG and sustainability, Boursa Kuwait has changed the state’s capital market FINANCIAL INCLUSION FOR ALL AND EXCELLENCE IN OPERATIONS: EL SALVADOR’S CENTRAL BANK SETS THE BAR HIGH — FOR OTHERS TO FOLLOW No Salvadoran should be left unbanked thanks to the bank’s ongoing drive for inclusion… The Central * * SECONDARY MENU * Africa * Asia Pacific * Europe * Latin America * Middle East * North America * * FOOTER MENU * Twitter * Instagram * Facebook * LinkedIn * YouTube * Feed * Toggle Menu Toggle menu * FinanceEconomics & Development * * Banking & Finance CITIGROUP CEO JANE FRASER Jane Fraser, the CEO of Citigroup, is no stranger to glass ceiling and glass cliffs. Fraser, NEW YORK — THE PREEMINENT FINANCIAL DISTRICT “It was never built for the comfort and happiness of its citizens, but to astonish the SINGAPORE — THE LEADING FINANCIAL CENTRE IN THE ASIA-PACIFIC REGION Hear the Merlion roar. Singapore is the case study for a DIY global financial centre. It * Markets TIGHTENING FINANCIAL CONDITIONS BRING IMPACTS TO ASSET VALUES In the first half of this year, US stock markets suffered a fall not seen in BIGGEST COMMODITY PRICE SHOCK IN 50 YEARS IS HERE In addition to death and destruction in Ukraine, the Russian invasion brought several significant shocks to CRYPTO JITTERS: UNHINGED STABLECOINS ADD VOLATILITY TO AN ALREADY UNSTABLE MARKET The dig is impossible to resist. On Thursday, tether – the world’s biggest ‘stablecoin’ – briefly * SMEs ABDULLAH AL-OTHMAN & GEIDEA: FINTECH SUPPORTS SMES AND SAUDI VISION 2030 Abdullah Al-Othman is the founder and chairman of Geidea, a leading fully licensed provider of digital VM FINANCE POISED TO LEAD PROPERTY FINANCING FOR SMES VM Finance entered the non-bank specialist funding industry in 2018, armed with a wealth of experience CBRE: APPROACHING SHADOWS OF DATA OPACITY AND RISK FROM FLEXIBLE OFFICE MARKET We live in a world that offers and value tailored convenience. We are accustomed to the * Economics & Convergence OTAVIANO CANUTO: SOME ECONOMIES MAY SOON FACE A HARD LANDING Weaker performance of emerging markets is expected in the immediate future. This year began with simultaneous GLOBAL IMBALANCES AND THE PANDEMIC The International Monetary Fund’s tenth annual External Sector Report (ESR, August 2021) shows how current account WORLD BANK ON SUSTAINABLE RECOVERY: THE NEED FOR LONG-TERM FINANCING The COVID-19 pandemic is affecting every country’s health system and economy to a degree not seen * SustainabilityBusiness Environment * * CSR THE LONG-TERM GROWTH OF SUSTAINABLE INVESTING In April 2013, the concrete roof of a dilapidated factory in a densely populated district of POLLEN STREET CAPITAL – ALL PLAYERS ARE PART OF THE SOLUTION: PROCEED WITH PURPOSE TO MAXIMISE ESG IMPACT Pollen Street Capital is a purpose-led asset manager whose overarching purpose is to deliver long-term sustainable FITCH RATINGS: ENDURING FOCUS ON ESG AND SUSTAINABILITY PROJECTS AT LEADING CREDIT RATINGS PROVIDER For over a century, Fitch Ratings has been building and creating value for global capital markets * Energy REBECCA CARTER: WISE WORDS ON SOLAR ENERGY Since becoming Global Managing Director of three and a half years ago, Rebecca Carter and her KARL FREDRIK-STAUBO – YOUTH, ENERGY, AGILITY, & THE COURAGE OF CONVICTION: MEET THE GOLAR GO-GETTERS As the youngest CEO of a NASDAQ-listed company, Karl Fredrik Staubo brings energy and verve to REBECCA CARTER, WISEENERGY: ALIGNING THE STARS TO CREATE A SMART SOLAR SYSTEM When Rebecca Carter joined WiseEnergy as COO in February 2019, she was seeking to return to * Innovation & Technology TRUSTING AI IN INTERNATIONAL TRADE — THE ROAD TO FAILURE, OR THE FUTURE? Lord Waverley dons his techie hat and has a closer look at the potential applications of PAOLO SIRONI, IBM: 7 BETS FOR 7 TRENDS THAT’LL FUTURE-PROOF INDUSTRIES AND SOCIETY From generative AI to quantum technology, things are moving on a-pace. When US President John F ORACLE CEO SAFRA CATZ Tech bros beware, there’s a new queen of the cloud. Safra Catz, the head of operations * Governance & Legal NORVESTOR: SEEING — AND SEIZING — THE FULL POTENTIAL OF ESG Private equity firm Norvestor has partnered with Nordic businesses for more than three decades. It has EY: ARGENTINA’S NEED FOR TAX REFORMS, AND HOW THEY COULD BE ACHIEVED The current Argentine macroeconomic situation is characterised by Covid-19 recession, inflation, record tax pressure, a reduction CO-OP LEGAL SERVICES: OPPORTUNITY AND OPTIMISM ABOUND IN THE EXCITING LEGAL SERVICES SECTOR Co-op Legal Services, which is part of the Co-op Group, offers legal advice and services for * PerspectivesEssays & Columns * * Multilaterals UNCDF: TIME TO ‘YOUTH-UP’ – THE STATUS QUO SIMPLY HAS TO BE ADJUSTED “It’s time to sustainably invest in youth affairs and future generations”, argues Edoardo Tancioni. As the WORLD BANK: TACKLING DEVELOPMENT CRISIS THROUGH FINANCIAL INNOVATION The World Bank uncovers fresh avenues to increase financing capacity. Global development faces multiple crises: Growing OECD: SUSTAINABLE DEVELOPMENT AND CLIMATE CHANGE REQUIRE MORE THAN JUST MONEY Blended finance could hold the key to overcoming major world challenges. Financing the UN’s Sustainable Development * Columnists TRUSTING AI IN INTERNATIONAL TRADE — THE ROAD TO FAILURE, OR THE FUTURE? Lord Waverley dons his techie hat and has a closer look at the potential applications of OTAVIANO CANUTO: MACRO-ECONOMIC POLICY CHANGE – WE’RE NOT IN KANSAS ANY MORE The possibility of multiple financial shocks lies ahead. Three significant changes to the macro-economic policy regime OTAVIANO CANUTO: GOING AROUND THE BEND? ASSESSING THE PHILLIPS CURVE MAY BE OF HELP Unemployment and wage rates are theoretically linked, and may hold a key to our immediate economic * Lifestyle A ONE-DAY COMMITMENT FOR A LIFETIME OF FREEDOM The gateway to a Greek golden visa in just one day? Emelia Beeson reports on a LIFE ON AN OCEAN WAVE (KEPT AFLOAT BY SEA OF BANKNOTES) ‘All I need is a luxury superyacht, and a star to steer her by…’ It’s official: THE ‘MIRACLE’ PLANT ONCE HAILED AS A CURE FOR CANCER: TOBACCO’S RISE … AND FALL We’ve come a long way from the first importation of nicotiana tabacum, through early praise and * PeopleHeroes & Leaders * * Heroes STEVE FECHHEIMER: BREWING UP A STORM TO COMBAT CLIMATE CHANGE New Belgium’s craft beers were inspired by a bike ride, first brewed in a basement, and PATRIK LUNDSTRÖM: BREAK ON THROUGH TO THE GREEN SIDE OF CLOTHING PRODUCTION… Every entrepreneur wants to build a business on a breakthrough process; not many have done so. LUTZ SCHWENKE: LIFE — AND BUSINESS — ON AN OCEAN WAVE Devon has some of the best surfing beaches in the UK — a fact which may * Editor’s Ten DENISE COATES EARNS MORE THAN ELON MUSK, WOULD YOU BELIEVE? British business leader Denise Coates is the highest-earning woman in Britain — testament to the fact ELAINE YAN LING NG: DESIGNER EGGED-ON BY NATURE’S POTENTIAL FOR UNIQUE BEAUTY The design world often looks to nature for inspiration, and Elaine Yan Ling Ng, a traditional MAHENDRA SINGH DHONI: CAPTAIN COOL MEETS HIS YOUNGER SELF TO PASS ON BUSINESS TIPS Mahendra Singh “MS” Dhoni, one of India’s most celebrated cricket players, has earned the nickname “Captain * Corporate Leaders PAVILION GLOBAL MARKETS: GLOBAL RECOGNITION IN TWO NICHE SERVICES, TRANSITION MANAGEMENT AND GLOBAL PORTFOLIO STRATEGY Pavilion Global Markets Ltd was founded in Canada more than 50 years ago as an institutional, A NEW ERA FOR KUWAIT INTERNATIONAL BANK: ARCHITECTING THE FUTURE OF TECHNOLOGY-BASED BANKING Digital renaissance in the global banking sector was well underway prior to the COVID-19 pandemic. In MULTIPLY MARKETING CONSULTANCY WITH SAMIA BOUAZZA AT THE HELM: ALWAYS PREPARED, ARMED WITH THE LATEST TECH, DETERMINED TO BE THE BEST “Abu Dhabi residents. International specialists. Critical thinkers. Problem solvers. Marketing connoisseurs. Trained to get straight to * Portraits ELAINE YAN LING NG: DESIGNER EGGED-ON BY NATURE’S POTENTIAL FOR UNIQUE BEAUTY The design world often looks to nature for inspiration, and Elaine Yan Ling Ng, a traditional INTERVIEW WITH GRETE FAREMO, EXECUTIVE DIRECTOR OF UNOPS: INCLUSIVE INFRASTRUCTURE DEVELOPMENT In pre-pandemic Oct 2019 (about 20 months ago) you wrote an article for CFI.co magazine that DAME JESSICA ENNIS-HILL: ‘CHEAP CHILDCARE’ LED TO WINNING ATHLETICS CAREER, JOKES ENNIS-HILL Britain’s most celebrated track and field athlete, Jessica Ennis-Hill, announced her retirement from professional sports at * LiteratureBook Reviews * * Reviews THINK BIG AND BUCKLE-UP FOR A FAST-PACED, PITHY MEMOIR Book Review: Kick Up Some Dust by Bernie Marcus The life and times of entrepreneur Bernie THE DAWN OF EVERYTHING: A NEW HISTORY OF HUMANITY – A NON-LINEAR ANARCHIST READING OF WORLD HISTORY It’s an ideology that inspires fear and loathing in equal measure. Anarchism or the conviction that SPRING READS: THREE BUSINESS BOOKS ON THE CFI.CO RADAR Naomi Snelling buries herself in some inspiring works that bring meaning — and more — to * Must-Reads THE DAWN OF EVERYTHING: A NEW HISTORY OF HUMANITY – A NON-LINEAR ANARCHIST READING OF WORLD HISTORY It’s an ideology that inspires fear and loathing in equal measure. Anarchism or the conviction that POLITICAL ORDER AND POLITICAL DECAY: FROM THE INDUSTRIAL REVOLUTION TO THE GLOBALIZATION OF DEMOCRACY “When the middle class constitutes only 20–30 percent of the population, it may side with antidemocratic POSTWAR: A HISTORY OF EUROPE SINCE 1945 CFI Must-Reads Title Postwar: A History of Europe Since 1945 Author Tony Judt ISBN 978-0-1430-3775-0 link * The Editor’s List LUTZ SCHWENKE: LIFE — AND BUSINESS — ON AN OCEAN WAVE Devon has some of the best surfing beaches in the UK — a fact which may THE KANDY-KOLORED TANGERINE-FLAKE STREAMLINE BABY “He sounded like Jean-François Revel, a French socialist writer who talks about one of the great THE GONZO PAPERS ANTHOLOGY “Absolute truth is a very rare and dangerous commodity in the context of professional journalism.” For * In-DepthExtended Coverage * * Hidden Gems MORTGAGES AGREED WITHIN SECONDS? THIS BANKER VAULTS DIGITAL FRONTIERS KBC Bank chief executive Johan Thijs has no truck with bureaucracy or time-wasting — but stays IN THE FACE OF GRIM CHALLENGES, UZBEKISTAN FORGES AHEAD ON PRIVATISATION Despite a pandemic, a European war involving its closest trading partner and the growing threat of UZBEKISTAN’S DYNAMISM PRESENTS NEW OPPORTUNITIES FOR POST-BREXIT BRITAIN Though 5,000 km apart, the UK, an economic leader in the world, and my emerging but * Business in Times of Corona ENERGY SECTOR GRAPPLES WITH HYDRA-HEADED PROBLEMS OF GLOBAL SUPPLY AND DEMAND At the recent COP-26 climate summit in Glasgow, government officials and leaders of international organisations put INFLATION, USED CARS, SILICON CHIPS AND SUPPLY-DEMAND: LINKS IN A WORRYING CHAIN Chips — no, not the potato or chocolate kind, the electronic ones – are a driving WORLD BANK: SUSTAINED GLOBAL SOLIDARITY NEEDED TO ACHIEVE GLOBAL COVID-19 RECOVERY The pandemic has affected virtually everyone in the world, but its impacts have been hardest on * World Economic Forum DAVOS: SEIZING THE MOMENT – OR NOT The man himself was unable to attend the proceedings in Davos – he has other commitments, WEF: BACK TO THE BASICS? Concerned over widening geopolitical fissures, the World Economic Forum (WEF) has embarked on a quest to DAVOS: TILL WE MEET AGAIN – BANKERS PACKING UP Dutch Finance Minister and President of the Eurogroup Jeroen Dijsselbloem is worried that the increased insularity * Special Features WORLD BANK MD AND CFO ANSHULA KANT: FINANCING WHERE IT MATTERS MOST Financing Where It Matters Most — People, The Planet, and the Role of Investors Amid overlapping PAUL HORROCKS, OECD: RISK, RETURN, IMPACT – SDG AIMS NEED A SHIFT OF FOCUS Russia’s war on Ukraine and interruption of global food supplies has put greater pressure on the OECD: ONLY SCALE AND DEVELOPMENT IMPACT WILL HELP US REACH THE SDG MOUNTAIN SUMMIT The development community is used to responding to crises but current events, not least COVID-19, have * AwardsExcellence * * Awards UAE IS RECOGNISED BY CFI.CO AS BEST FDI DESTINATION IN THE MIDDLE EAST Following presentation of the Annual Investment Meeting (AIM) Awards for FDI-agencies at a Gala Dinner at BRITISH AIRWAYS: BEST PREMIUM TRAVEL EXPERIENCE GLOBAL Unveiling a major investment drive to upgrade its long-haul business and premium economy class services, British UBS: BEST GREEN BANK SWITZERLAND An increasing number of businesses, including banks, are adapting their corporate structures and processes to incorporate * Africa SCHLUMBERGER NIGERIA: BEST SUSTAINABILITY AWARD In over forty countries, oilfield services company Schlumberger is actively engaged in promoting science, technology, engineering, THE CFI.CO AWARD FOR BEST HSE STANDARDS, WEST AFRICA, GOES TO MOBIL OIL NIGERIA PLC Mobil Oil Nigeria Plc traces its proud history back to 1907. This top petroleum products marketing OLD MUTUAL: BEST COMMUNITY ENGAGEMENT PROGRAMME, SOUTH AFRICA Responsibility is at the heart of Old Mutual’s success over the past 165 years and the * Asia Pacific BEST COMMERCIAL BANK, CHINA: CFI.CO NAMES CHINA MERCHANTS China Merchants Bank, headquartered in Shenzen and boasting 500 branches, is the CFI.co 2014 winner of COLOMBO STOCK EXCHANGE: MOST SUSTAINABLE GROWTH EXCHANGE ASIA With investor confidence solid and a booming economy, the Colombo Stock Exchange (CSE) is in a A TOUCH OF CLASS: CENTURY PROPERTIES GROUP WINS REAL ESTATE AWARD IN THE PHILIPPINES With a passion for quality in both service and product plus an uncannily keen sense for * Europe JULIUS BÄR GROUP: BEST PRIVATE BANK SWITZERLAND Managing the assets of private clients across the globe, Julius Bär Group maintains offices in over UBS: BEST GREEN BANK SWITZERLAND Picture a world in which large power plants spewing noxious fumes into the atmosphere have been NORDEA ASSET MANAGEMENT: ESG AWARD WINNER IN EUROPE According to the CFI.co Judging Panel, ‘Nordea well understands the benefits that accrue to investors when * Latin America BCI: OUR FUND MANAGER WINNER IN CHILE The CFI.co Judging Panel rates BCI Investment Management very highly and has announced that the award BOLSA DE VALORES DE COLOMBIA: BEST STOCK EXCHANGE, LATIN AMERICA The Bolsa de Valores de Colombia (BVC) – a private organisation – was established in 2001 THE ODEBRECHT FOUNDATION WINS CFI AWARD FOR COMMUNITY ENGAGEMENT, BRAZIL The Odebrecht Organisation is a very successful and highly diversified Brazilian group which is active in * North America MERCURY CAPITAL ADVISORS GROUP BEST FUND RAISING TEAM GLOBAL Mercury Capital Advisors Group have perfected flat management within the company, creating a team where everyone takes BANCO INTERACCIONES: OUR WINNER IN MEXICO FOR A SECOND YEAR The CFI Judging Panel would like to congratulate Banco Interacciones on repeating its triumph of last BNY MELLON: WINNER OF THE CFI.CO WEALTH MANAGER AWARD, US The CFI.co Judging Panel has named BNY Mellon as winner of the prestigious award, ’Best Wealth * Middle East SAUDI HOLLANDI: BEST SME BANK, KSA, FOR A SECOND YEAR The CFI.co Judging Panel is always delighted when winners repeat their success in subsequent years. It BENTLEY POWERS AHEAD IN CUSTOMER SATISFACTION: CFI.CO AWARD WINNER, MIDDLE EAST There has been powerful performance at Bentley Motors, Middle East this past year. Dubai is the UBP WINS THE CFI.CO PRIVATE BANKING AWARD, UAE Now that many of the global universal banks are returning to their core business and divesting * InitiativesCorporate & Events * * Events UNCDF: COP27 PLEDGES BIODIVERSITY FINANCE TO BOOST CLIMATE-CHANGE RESILIENCE Forests, coral reefs and populations most at-risk come into focus at 2022 summit in Egypt. “From WEF 2022: THE WORLD IS NO LONGER FLAT This week, a colourful cabal of cognoscenti gathered in Davos to offer diverse takes on the MAKING EXPO 2020 DEEPLY PERSONAL: HOW ACCENTURE HELPED PUT THE VISITOR AT THE HEART OF THE WORLD’S GREATEST SHOW When we first started working with Expo and Etisalat Digital over six years ago, they had * Projects SRI LANKA: RECOVERY, REDEMPTION & RE-BIRTH Ranil Wickremesinghe, Sri Lanka’s most resilient and experienced politician, was gifted his country’s presidency by his INTERVIEW WITH FIRAS SLEIMAN – PARTNER AND TECHNOLOGY, DIGITAL & CYBER LEADER AT PWC IN QATAR: DIGITAL LEADERSHIP About Qatar and Digital What technology or digital trends should the Qatari leader watch out for RESCUE BY HELICOPTER RESERVES The world woke up on Monday 23 with higher international reserves for all countries. A new * Start-Ups KICKSTART SEED FUND: FROM RECESSION TO CO-OPERATION Kickstart Seed Fund was founded in 2008. Yes, 2008 — and despite the recession, the company GAVIN CHRISTENSEN: SHARED VALUES AT KICKSTART MANAGEMENT Seed-stage venture capital firm Kickstart, founded by Gavin Christensen, started life in the 2008 recession — RECIPE FOR SUCCESS: BLEND INSPIRING PARTNERS WITH HARD-WORKING TEAMS AND HAVE A PROVEN ‘KILLER’ PRODUCT FasterCapital is an online incubator/accelerator diverse and inclusive global company whose expert team works with partners * Corporate A FOCUS ON PEOPLE AND PRODUCTIVITY HAS TAKEN THIS EL SALVADOR BANK TO NEW HEIGHTS — IN JUST THREE YEARS Brand new and eager to achieve noble ambitions, Banco Hipotecario is going from strength-to-strength Since June UNERRING DRIVE AND DETERMINATION PAY OFF FOR KUWAIT’S STOCK EXCHANGE Transparent, robust, and dedicated to ESG and sustainability, Boursa Kuwait has changed the state’s capital market FINANCIAL INCLUSION FOR ALL AND EXCELLENCE IN OPERATIONS: EL SALVADOR’S CENTRAL BANK SETS THE BAR HIGH — FOR OTHERS TO FOLLOW No Salvadoran should be left unbanked thanks to the bank’s ongoing drive for inclusion… The Central * Africa * Asia Pacific * Europe * Latin America * Middle East * North America BRAVE NEW WORLD? ARGENTINA LOOKS TO ECCENTRIC OUTLIER FOR AN ECONOMIC FIX A far-Right libertarian candidate has burst from nowhere to claim centre stage in Argentina’s election race. Javier Milei, a 52-year-old, BEHOLD THE NEW WAR: SAME AS THE OLD WAR, BUT IT COMES WITH AN APP On the battlefields of Ukraine, massive military kit is trumping technology, reports Wim Romeijn. On the undulating plains of eastern OH DEAR: THE SOUND OF YOUR KEYSTROKES COULD LEAVE YOU WIDE-OPEN TO A CYBERATTACK A simple video call could open your laptop to hackers, experts warn… University researchers have created an AI system to TRUSTING AI IN INTERNATIONAL TRADE — THE ROAD TO FAILURE, OR THE FUTURE? Lord Waverley dons his techie hat and has a closer look at the potential applications of artificial intelligence… Generative AI AI SET TO DRIVE NAIL IN COFFIN OF LONG STAGNATION From Excited to Ecstatic: Expectations of AI Drive Perception Recognised as one of the world’s most prestigious management consulting firms, DATA-SHARING: PRIVACY AGREEMENT TO LIMIT PRYING BY US INTELLIGENCE Europeans can now complain if they think intelligence services gathered their data — and it’s business as usual for tech VIDEO GAMING FIRM FORCED TO CUT STAFF — DESPITE CULT-LIKE FOLLOWING FOR A FRANCHISE THAT JUST WON’T DIE Q: How do get 1,000 Pikachu on an aeroplane? A: You Pokémon. Hal Williams reports on the enduring — or TECHNOLOGY, TURTLES, SUBWAY SYSTEMS AND FLYING MEN — DELIVERY IS MOVING ON APACE Pie-from-the-sky is the festival food delivery dream for 2023 by HAL WILLIAMS New technology always takes a bit of bedding-in AI: LIES, SURPRISES, AND A RISK OF OUR OWN EXTINCTION — WITH SOME INTERESTING ATTRIBUTES The bots are here: ‘It’s as if aliens had landed, and nobody noticed because they are fluent in English…’ ChatGPT ENERGY SECTOR GRAPPLES WITH HYDRA-HEADED PROBLEMS OF GLOBAL SUPPLY AND DEMAND At the recent COP-26 climate summit in Glasgow, government officials and leaders of international organisations put the spotlight on the INFLATION, USED CARS, SILICON CHIPS AND SUPPLY-DEMAND: LINKS IN A WORRYING CHAIN Chips — no, not the potato or chocolate kind, the electronic ones – are a driving force behind a spike WORLD BANK: SUSTAINED GLOBAL SOLIDARITY NEEDED TO ACHIEVE GLOBAL COVID-19 RECOVERY The pandemic has affected virtually everyone in the world, but its impacts have been hardest on the poor and vulnerable, INVASION OF THE ROBOTS! BEWARE, BEWARE! JUST BECAUSE WE CAN DOESN’T MEAN THAT WE SHOULD… AI, facial-recognition, machine learning… where should humans draw the line when it comes to automated ‘job theft’? Yogesh Patel gives PERMANENT OUTPUT LOSSES FROM THE PANDEMIC In the World Economic Outlook, published October 12, the International Monetary Fund (IMF) slightly lowered its forecast for global economic FROM THE BLACK PLAGUE TO THE COVID CRISIS, QUARANTINE HAS AFFECTED MARITIME TRADE An overly familiar term in the 2020s, “quarantine”, dates from the 14th Century and is derived from quarantena — Italian HOME IS WHERE THE MORTGAGE IS: 2008 CRISIS HAS LESSONS FOR SECTOR Of all the sectors affected by the pandemic, the housing market has performed better than expected. In 2008, home loans WHERE ARE WE GOING? NOWHERE, FAST, ACCORDING TO TRAVEL AND TOURISM STATS Whether domestic or international, business or pleasure, travel is an integral part of modern life — no longer just a SHOCK AND ORE — INDIA’S LOVE OF GOLD GOES BEYOND MARKET PRICES Gold is considered the most valuable of all the precious metals — especially in Indian culture. While the fabulous ore CURRENT ISSUE SDG: THE BUSINESS CASE SUBSCRIBE TO CFI.CO WIRE SERVICE GET NEW POSTS BY EMAIL: CONTENTS * About CFI.co * Subscribe to Print Magazine * About CFI.co Wire Service * Awards * Contributors * People * Corporate Leaders * Otaviano Canuto’s Column * Lord Waverley’s Column * Magazine * Media Information 2023 * CFI.co Blog * Privacy Policy (Updated) * Contact Us SEARCH Search for: * Twitter * Instagram * Facebook * LinkedIn * YouTube * Feed © 2023 Copyright CFI.co - Capital Finance International. All Rights reserved. Close Window LOADING, PLEASE WAIT! 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