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innovation in new 04<br />
Growth markets<br />
Multinational companies<br />
face complex business<br />
growth challenges leading<br />
to new resource and capital<br />
allocation strategies<br /> <a title="788085_Global_Perspective_01.pdf page 1" href="http://viewer.zmags.com/publication/11f26862?page=1"> Viewing Instructions Table of ConTenTs Each pag</a>
<a title="788085_Global_Perspective_01.pdf page 2" href="http://viewer.zmags.com/publication/11f26862?page=2"> innovation in new 04 Growth markets Multination</a>
<a title="788085_Global_Perspective_01.pdf page 3" href="http://viewer.zmags.com/publication/11f26862?page=3"> </a>
<a title="788085_Global_Perspective_01.pdf page 4" href="http://viewer.zmags.com/publication/11f26862?page=4"> contents 2 FOREWORD Michael Guralnick 4 GROWTH </a>
<a title="788085_Global_Perspective_01.pdf page 5" href="http://viewer.zmags.com/publication/11f26862?page=5"> Michael Guralnick Global Head, Client Sales Manag</a>
<a title="788085_Global_Perspective_01.pdf page 6" href="http://viewer.zmags.com/publication/11f26862?page=6"> Expect the unexpected As emerging market corporat</a>
<a title="788085_Global_Perspective_01.pdf page 7" href="http://viewer.zmags.com/publication/11f26862?page=7"> Innovation in new growth markets In to</a>
<a title="788085_Global_Perspective_01.pdf page 8" href="http://viewer.zmags.com/publication/11f26862?page=8"> A critical variable in companies’ analyses is the</a>
<a title="788085_Global_Perspective_01.pdf page 9" href="http://viewer.zmags.com/publication/11f26862?page=9"> Michael Guralnick Global Head, Corporate Client S</a>
<a title="788085_Global_Perspective_01.pdf page 10" href="http://viewer.zmags.com/publication/11f26862?page=10"> latin america Top-tier corporates expanding regio</a>
<a title="788085_Global_Perspective_01.pdf page 11" href="http://viewer.zmags.com/publication/11f26862?page=11"> Daniel winDauS Senior Director and Global Head of</a>
<a title="788085_Global_Perspective_01.pdf page 12" href="http://viewer.zmags.com/publication/11f26862?page=12"> As the dust begins to settle on the largest econo</a>
<a title="788085_Global_Perspective_01.pdf page 13" href="http://viewer.zmags.com/publication/11f26862?page=13"> table 2 -3 (-6%) -4 (-9%) -2 (-3%) -8 (-17%</a>
<a title="788085_Global_Perspective_01.pdf page 14" href="http://viewer.zmags.com/publication/11f26862?page=14"> payment terms to Asian suppliers, often from the </a>
<a title="788085_Global_Perspective_01.pdf page 15" href="http://viewer.zmags.com/publication/11f26862?page=15"> fiscal requirements on when local VAT is payable </a>
<a title="788085_Global_Perspective_01.pdf page 16" href="http://viewer.zmags.com/publication/11f26862?page=16"> as possible to an open account with extended paym</a>
<a title="788085_Global_Perspective_01.pdf page 17" href="http://viewer.zmags.com/publication/11f26862?page=17"> As the recent recession and ensuing recovery have</a>
<a title="788085_Global_Perspective_01.pdf page 18" href="http://viewer.zmags.com/publication/11f26862?page=18"> citi Perspectives (cP): roberto, what is the curr</a>
<a title="788085_Global_Perspective_01.pdf page 19" href="http://viewer.zmags.com/publication/11f26862?page=19"> While only around 30% of Latin America’s populati</a>
<a title="788085_Global_Perspective_01.pdf page 20" href="http://viewer.zmags.com/publication/11f26862?page=20"> “Asignacion Universal por Hijo”, which is benefit</a>
<a title="788085_Global_Perspective_01.pdf page 21" href="http://viewer.zmags.com/publication/11f26862?page=21"> 20 Growth Markets | Global Perspectives 201</a>
<a title="788085_Global_Perspective_01.pdf page 22" href="http://viewer.zmags.com/publication/11f26862?page=22"> The rise and rise of CNH? The continued growth o</a>
<a title="788085_Global_Perspective_01.pdf page 23" href="http://viewer.zmags.com/publication/11f26862?page=23"> SriDhar kanThaDai Asia Pacific Head, Treasury and</a>
<a title="788085_Global_Perspective_01.pdf page 24" href="http://viewer.zmags.com/publication/11f26862?page=24"> Effectively, a currency of trade is of greater us</a>
<a title="788085_Global_Perspective_01.pdf page 25" href="http://viewer.zmags.com/publication/11f26862?page=25"> For treasurers with sizeable activities in RMB in</a>
<a title="788085_Global_Perspective_01.pdf page 26" href="http://viewer.zmags.com/publication/11f26862?page=26"> engaging clients, providing clarity China is play</a>
<a title="788085_Global_Perspective_01.pdf page 27" href="http://viewer.zmags.com/publication/11f26862?page=27"> GeoFFrey GurSel Client Sales Manager Africa, Glob</a>
<a title="788085_Global_Perspective_01.pdf page 28" href="http://viewer.zmags.com/publication/11f26862?page=28"> Doing business in over 40 countries across the Af</a>
<a title="788085_Global_Perspective_01.pdf page 29" href="http://viewer.zmags.com/publication/11f26862?page=29"> In times of economic uncertainty, identifying and</a>
<a title="788085_Global_Perspective_01.pdf page 30" href="http://viewer.zmags.com/publication/11f26862?page=30"> outside Africa can benefit from establishing SWIF</a>
<a title="788085_Global_Perspective_01.pdf page 31" href="http://viewer.zmags.com/publication/11f26862?page=31"> caSe STuDy 1 A large pan-Africa NGO in Kenya Cit</a>
<a title="788085_Global_Perspective_01.pdf page 32" href="http://viewer.zmags.com/publication/11f26862?page=32"> caSe STuDy 2 World Vision Zambia CitiDirect® Onl</a>
<a title="788085_Global_Perspective_01.pdf page 33" href="http://viewer.zmags.com/publication/11f26862?page=33"> Mobile money moves ahead in Africa Mobile paymen</a>
<a title="788085_Global_Perspective_01.pdf page 34" href="http://viewer.zmags.com/publication/11f26862?page=34"> Economic and political commentators are saying th</a>
<a title="788085_Global_Perspective_01.pdf page 35" href="http://viewer.zmags.com/publication/11f26862?page=35"> Figure 1: cumulative investment in telecommunicat</a>
<a title="788085_Global_Perspective_01.pdf page 36" href="http://viewer.zmags.com/publication/11f26862?page=36"> revolutionizing payments: roles and business mode</a>
<a title="788085_Global_Perspective_01.pdf page 37" href="http://viewer.zmags.com/publication/11f26862?page=37"> number of agents acting for MNOs increased by 197</a>
<a title="788085_Global_Perspective_01.pdf page 38" href="http://viewer.zmags.com/publication/11f26862?page=38"> The biggest winners of all, though, are the Conti</a>
<a title="788085_Global_Perspective_01.pdf page 39" href="http://viewer.zmags.com/publication/11f26862?page=39"> Optimizing cash management efficiency and product</a>
<a title="788085_Global_Perspective_01.pdf page 40" href="http://viewer.zmags.com/publication/11f26862?page=40"> Peter Langshaw (PL): What encouraged you to embar</a>
<a title="788085_Global_Perspective_01.pdf page 41" href="http://viewer.zmags.com/publication/11f26862?page=41"> large multinationals through to ad hoc sales to s</a>
<a title="788085_Global_Perspective_01.pdf page 42" href="http://viewer.zmags.com/publication/11f26862?page=42"> • Secure better access to working capital fi</a>
<a title="788085_Global_Perspective_01.pdf page 43" href="http://viewer.zmags.com/publication/11f26862?page=43"> The banking and cash management project has prove</a>
<a title="788085_Global_Perspective_01.pdf page 44" href="http://viewer.zmags.com/publication/11f26862?page=44"> knowledge, and connect the relevant resources to </a>
<a title="788085_Global_Perspective_01.pdf page 45" href="http://viewer.zmags.com/publication/11f26862?page=45"> The new thinking DaViD alDreD EMEA Industrials S</a>
<a title="788085_Global_Perspective_01.pdf page 46" href="http://viewer.zmags.com/publication/11f26862?page=46"> Clear, accessible information — delivered in a ti</a>
<a title="788085_Global_Perspective_01.pdf page 47" href="http://viewer.zmags.com/publication/11f26862?page=47"> One important phenomenon that is driving corporat</a>
<a title="788085_Global_Perspective_01.pdf page 48" href="http://viewer.zmags.com/publication/11f26862?page=48"> package designed to boost the economy. The Americ</a>
<a title="788085_Global_Perspective_01.pdf page 49" href="http://viewer.zmags.com/publication/11f26862?page=49"> Citi Automotive companies expandi</a>
<a title="788085_Global_Perspective_01.pdf page 50" href="http://viewer.zmags.com/publication/11f26862?page=50"> Industry Trends: Spotlight on the Industrials Sec</a>
<a title="788085_Global_Perspective_01.pdf page 51" href="http://viewer.zmags.com/publication/11f26862?page=51"> Global telecommunications industry update Mark</a>
<a title="788085_Global_Perspective_01.pdf page 52" href="http://viewer.zmags.com/publication/11f26862?page=52"> of technology and pharmaceutical companies, are q</a>
<a title="788085_Global_Perspective_01.pdf page 53" href="http://viewer.zmags.com/publication/11f26862?page=53"> Citi has greatly helped industry players to diffe</a>
<a title="788085_Global_Perspective_01.pdf page 54" href="http://viewer.zmags.com/publication/11f26862?page=54"> caSe STuDy Vodafone Providing integrated solutio</a>
<a title="788085_Global_Perspective_01.pdf page 55" href="http://viewer.zmags.com/publication/11f26862?page=55"> Trends and challenges in the consumer and retail </a>
<a title="788085_Global_Perspective_01.pdf page 56" href="http://viewer.zmags.com/publication/11f26862?page=56"> drink, clothe their families, and maintain a hygi</a>
<a title="788085_Global_Perspective_01.pdf page 57" href="http://viewer.zmags.com/publication/11f26862?page=57"> chart 3: emerging markets supporting top-line gro</a>
<a title="788085_Global_Perspective_01.pdf page 58" href="http://viewer.zmags.com/publication/11f26862?page=58"> Treasury integration Shared service centre solut</a>
<a title="788085_Global_Perspective_01.pdf page 59" href="http://viewer.zmags.com/publication/11f26862?page=59"> around the world. EAF enables consumer companies </a>
<a title="788085_Global_Perspective_01.pdf page 60" href="http://viewer.zmags.com/publication/11f26862?page=60"> Working capital management The effective manageme</a>
<a title="788085_Global_Perspective_01.pdf page 61" href="http://viewer.zmags.com/publication/11f26862?page=61"> mergers and acquisitions When we look at the cons</a>
<a title="788085_Global_Perspective_01.pdf page 62" href="http://viewer.zmags.com/publication/11f26862?page=62"> of a Citi® Prepaid Visa card as a consumer- brand</a>
<a title="788085_Global_Perspective_01.pdf page 63" href="http://viewer.zmags.com/publication/11f26862?page=63"> raVi Saxena Global Trade Services Head, Treasury </a>
<a title="788085_Global_Perspective_01.pdf page 64" href="http://viewer.zmags.com/publication/11f26862?page=64"> came first. Now the challenge is also in the deve</a>
<a title="788085_Global_Perspective_01.pdf page 65" href="http://viewer.zmags.com/publication/11f26862?page=65"> gives you is two carrots — which makes it a much </a>
<a title="788085_Global_Perspective_01.pdf page 66" href="http://viewer.zmags.com/publication/11f26862?page=66"> GG: Information creates value. To the extent a co</a>
<a title="788085_Global_Perspective_01.pdf page 67" href="http://viewer.zmags.com/publication/11f26862?page=67"> The shifting influences of emerging and developed</a>
<a title="788085_Global_Perspective_01.pdf page 68" href="http://viewer.zmags.com/publication/11f26862?page=68"> Global enterprises across all regions and major i</a>
<a title="788085_Global_Perspective_01.pdf page 69" href="http://viewer.zmags.com/publication/11f26862?page=69"> market champions alike. Also, despite the huge op</a>
<a title="788085_Global_Perspective_01.pdf page 70" href="http://viewer.zmags.com/publication/11f26862?page=70"> Regardless of where companies are based and which</a>
<a title="788085_Global_Perspective_01.pdf page 71" href="http://viewer.zmags.com/publication/11f26862?page=71"> iV. releasing trapped cash Businesses that are ex</a>
<a title="788085_Global_Perspective_01.pdf page 72" href="http://viewer.zmags.com/publication/11f26862?page=72"> looking ahead: shoring up treasuries, optimizing </a>
<a title="788085_Global_Perspective_01.pdf page 73" href="http://viewer.zmags.com/publication/11f26862?page=73"> Please take a moment to take our investments surv</a>
<a title="788085_Global_Perspective_01.pdf page 74" href="http://viewer.zmags.com/publication/11f26862?page=74"> risk-return trade-off An uncertain economic envir</a>
<a title="788085_Global_Perspective_01.pdf page 75" href="http://viewer.zmags.com/publication/11f26862?page=75"> Given the risk- While regulators are focused </a>
<a title="788085_Global_Perspective_01.pdf page 76" href="http://viewer.zmags.com/publication/11f26862?page=76"> selecting an online investment portal Treasurers </a>
<a title="788085_Global_Perspective_01.pdf page 77" href="http://viewer.zmags.com/publication/11f26862?page=77"> John kohari Global Head, Citi Wholesale Cards, Gl</a>
<a title="788085_Global_Perspective_01.pdf page 78" href="http://viewer.zmags.com/publication/11f26862?page=78"> cards that are solving modern business challenges</a>
<a title="788085_Global_Perspective_01.pdf page 79" href="http://viewer.zmags.com/publication/11f26862?page=79"> For employers, the Citi Flu Care card offers redu</a>
<a title="788085_Global_Perspective_01.pdf page 80" href="http://viewer.zmags.com/publication/11f26862?page=80"> electronic arrangement that eliminates third-part</a>
<a title="788085_Global_Perspective_01.pdf page 81" href="http://viewer.zmags.com/publication/11f26862?page=81"> PraTeeP Sen Senior Global Product Manager, Global</a>
<a title="788085_Global_Perspective_01.pdf page 82" href="http://viewer.zmags.com/publication/11f26862?page=82"> information Because client information resides cl</a>
<a title="788085_Global_Perspective_01.pdf page 83" href="http://viewer.zmags.com/publication/11f26862?page=83"> removing the pain There are five ways in which a </a>
<a title="788085_Global_Perspective_01.pdf page 84" href="http://viewer.zmags.com/publication/11f26862?page=84"> outsourcing Many companies choose to outsource ex</a>
<a title="788085_Global_Perspective_01.pdf page 85" href="http://viewer.zmags.com/publication/11f26862?page=85"> Single-window corporate-to- bank connectivity: no</a>
<a title="788085_Global_Perspective_01.pdf page 86" href="http://viewer.zmags.com/publication/11f26862?page=86"> and managing multiple communications protocols, s</a>
<a title="788085_Global_Perspective_01.pdf page 87" href="http://viewer.zmags.com/publication/11f26862?page=87"> When it comes to connectivity, Citi Information X</a>
<a title="788085_Global_Perspective_01.pdf page 88" href="http://viewer.zmags.com/publication/11f26862?page=88"> growing interest in electronic bank account (eBAM</a>
<a title="788085_Global_Perspective_01.pdf page 89" href="http://viewer.zmags.com/publication/11f26862?page=89"> Online banking is moving beyond desktops and lap</a>
<a title="788085_Global_Perspective_01.pdf page 90" href="http://viewer.zmags.com/publication/11f26862?page=90"> Rare is the business manager who goes about his o</a>
<a title="788085_Global_Perspective_01.pdf page 91" href="http://viewer.zmags.com/publication/11f26862?page=91"> How, and to what extent, mobile phones will shape</a>
<a title="788085_Global_Perspective_01.pdf page 92" href="http://viewer.zmags.com/publication/11f26862?page=92"> focused mobile banking Corporate treasurers, in a</a>
<a title="788085_Global_Perspective_01.pdf page 93" href="http://viewer.zmags.com/publication/11f26862?page=93"> 92 Regulatory Update | Global Perspectives </a>
<a title="788085_Global_Perspective_01.pdf page 94" href="http://viewer.zmags.com/publication/11f26862?page=94"> Regulatory reform update: Basel III, Dodd-Frank a</a>
<a title="788085_Global_Perspective_01.pdf page 95" href="http://viewer.zmags.com/publication/11f26862?page=95"> Geographically, Basel III continues to allow indi</a>
<a title="788085_Global_Perspective_01.pdf page 96" href="http://viewer.zmags.com/publication/11f26862?page=96"> differently. This will also allow for the arbitra</a>
<a title="788085_Global_Perspective_01.pdf page 97" href="http://viewer.zmags.com/publication/11f26862?page=97"> The Payment Services Directive and SEPA: a story </a>
<a title="788085_Global_Perspective_01.pdf page 98" href="http://viewer.zmags.com/publication/11f26862?page=98"> Since the official Payment Services Directive (PS</a>
<a title="788085_Global_Perspective_01.pdf page 99" href="http://viewer.zmags.com/publication/11f26862?page=99"> • Maximum execution cycle times are limited to </a>
<a title="788085_Global_Perspective_01.pdf page 100" href="http://viewer.zmags.com/publication/11f26862?page=100"> no practical way of building on this standard to </a>
<a title="788085_Global_Perspective_01.pdf page 101" href="http://viewer.zmags.com/publication/11f26862?page=101"> In addition, the draft proposal contains a number</a>
<a title="788085_Global_Perspective_01.pdf page 102" href="http://viewer.zmags.com/publication/11f26862?page=102"> With the Council working group already having met</a>
<a title="788085_Global_Perspective_01.pdf page 103" href="http://viewer.zmags.com/publication/11f26862?page=103"> </a>
<a title="788085_Global_Perspective_01.pdf page 104" href="http://viewer.zmags.com/publication/11f26862?page=104"> </a>
<a title="788085_Global_Perspective_01.pdf page 105" href="http://viewer.zmags.com/publication/11f26862?page=105"> Global Transaction Services www.transactionservic</a>