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Good things come to those who wait
After the United States, China is the second largest economy in the world. It has long been recognised as the fastest-growing globally, having recorded annual average growth rates in excess of 10 percent over the last quarter-century. In Q2 2010, China’s economy was valued at $1.33trn, and it is estimated that by the end of the year the nation’s total GDP will be approximately $5.7trn. Given these impressive figures, for many years global financial institutions have been holding their breath, waiting for an opportunity to tap into such a potentially lucrative market. Their wait has been a long one. It was in 1978 that investors first pric... -
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A civil engineer for all seasons
Prasert BunsumpunAge: 58Education:Harvard Business SchoolMBA, Utah State UniversityCareer highlights:2003 President and CEO, PTT Group2001-2003 Senior Executive Vice President, Gas Business Group, PTT Public Company When Prasert Bunsumpun, then 51, was appointed President of Thailand’s national energy company, PTT Plc in 2003 it was yet to join the ranks of the Fortune 500 elite. By 2004, it was listed at 456. Later in 2005 PTT was ranked 373; by 2006 it had climbed more than a hundred places to reach 265; 2007 saw it at 207; PTT had reached 135 by 2008 and in August 2009, Fortune 500 magazine ranked it 118 and recently 155 in 2010 among th... -
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FX platforms target white labelling
Since its inception, Squared Financial Services (Squared) has continually invested in its product offering, technology and people, as it strives to become the platform of choice among all participants in the EFX market space. Today, the results of this investment are plain to see, as Squared Financial is poised to reap the rewards of its pursuit of excellence. Squared was founded in 2005 by its current chairman, Philippe Ghanem, and director, Georges Cohen. It is an independent, full service broker headquartered in Dublin and is regulated (and MiFID authorised) by the Financial Regulator in Ireland. At the very beginning Squared evolved from ... -
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Ports gain in pro-business market
Deemed one of the most prestigious projects in the Sultanate of Oman, the Port boasts the four largest shipping lines. Business is booming. Both its terminals saw double digit growth in the past five years, with general cargo growing at over 20 percent per annum, despite the onset of the recession. We spoke to the CEO Peter Ford, about the secret of Salalah’s success, the company’s continued growth and expansion plans, and to find out what the future has in store. Mr Ford joined the Port of Salalah from APM Terminals, which manages the Port, where he worked for more than sixteen years. He has as a wealth of experience in the shipping indu... -
News 0
Ports gain in pro-business market
Deemed one of the most prestigious projects in the Sultanate of Oman, the Port boasts the four largest shipping lines. Business is booming. Both its terminals saw double digit growth in the past five years, with general cargo growing at over 20 percent per annum, despite the onset of the recession. We spoke to the CEO Peter Ford, about the secret of Salalah’s success, the company’s continued growth and expansion plans, and to find out what the future has in store. Mr Ford joined the Port of Salalah from APM Terminals, which manages the Port, where he worked for more than sixteen years. He has as a wealth of experience in the shipping indu... -
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Vatican praises ‘ethical’ Sharia banking
Haitham Abdou, director of marketing and product strategy for the ITS group, the biggest supplier of Islamic banking solutions in the world, confessed he was shocked to read Pope Benedict praising Islam’s bankers in the pages of the official Vatican newspaper. However, Abdou said, the article convinced him that Islamic banking is now ready for a rebranding as ethical banking, a system that could find new customers in the western world and elsewhere, as well as its traditional home in the Islamic world. “Pope Benedict urged the western community to look at the Islamic banking model because of its ethical principles, to restore confidence a... -
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China shifts outbound investment focus
In China, FDI policy has shifted from inbound to outbound investment. Furthermore, outbound investment is migrating up the value chain from resources through knowledge-based industries. China’s huge financial resources provide a sound foundation which needs to be supplemented with information and tools to assist Chinese companies to make objective investment decisions. Everyone is aware of the massive economic changes that have taken place in China over the last few decades. Focusing on the trade balance and the financial resources (estimated at over $2trn), many people assume that China’s rise is based on low-cost manufacturing capabilit... -
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New legislation strengthens tax
Brazilian transfer pricing legislation, in force since January 1997, has been changed to help businesses reduce the risk of tax contingencies; improve the management of its rules; reduce duplicate taxation; and optimise tax impacts through mechanisms of control of the strengths and weaknesses of the risks and opportunities related to it. This legislation stipulates that all companies shall provide evidence of the adequacy of prices paid or charged in connection with import or export operations involving goods, services, rights as well as loan operations not registered with the Central Bank of Brazil (Bacen) performed between parties deemed... -
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Gruma meets expansion targets
In 2011, GRUMA will likely face various challenges. Thanks to the company’s preparation – much as in previous years – its strategic business approach will allow it to move forward with great success. The Mexican multinational, with 93 plants strategically located to sell its products in 102 countries throughout America, Europe, Asia and Oceania, is already aware of some of problems it will encounter. Grain price volatility, maintaining consumption levels – mainly in the US – and utilising optimal flow generation to maintain a healthy financial structure are all concerns. In light of this the company is already prepreparing to meet... -
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IB competition grows in MENA
Among MENA investment banks, Jadwa Investment stands out for achieving strong growth despite challenging market conditions. Launched in 2007, Jadwa has been profitable for each of the last three years, and has grown assets under management by 13 times, from less than $150m in June 2007 to more than $1.9bn in October 2010, at a time when the MSCI Arabian Markets Index dropped by 25 percent. Capitalising on its strong management team and shareholder base, the firm forged ahead during the market turmoil, executing landmark private equity transactions and entering into strategic partnerships with leading players in the asset management industry, ...
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