Regions

EUROPE - Jean Claude Trichet, the president of the European Central Bank, has defended yesterday's 25 basis point hike in interest rates as good for the eurozone, as EU leaders prepare for talks on the bailout of Portugal.

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

EUROPE - The European Central Bank lifted interest rates for the first time in almost three years in a bid to stem inflation.

ASIA - Northern Trust has appointed Margaret Law as head of client services for its asset servicing business in North Asia (ex-China).

GLOBAL - Towers Watson has completed over $1bn in transactions involving multinationals using their in-house insurance companies to fund pensions, the consultancy said.

US - Mercer has appointed Julie Humphries as its global defined contribution consulting leader.

EUROPE - Park Square Capital has raised €850m ($1.2bn), primarily from institutional investors including pension funds, for its mezzanine fund PSC Fund II, the firm said.

GLOBAL - Emerging market debt remains attractive in comparison to G7 government bonds despite inflationary concerns and unrest in the Middle East, Aberdeen Asset Management believes.

GLOBAL - Signatories to the United Nations Principals for Responsible Investments (UNPRI) will now have to pay fees in order to participate.

GLOBAL - Local currency emerging market debt (EMD) will continue to outperform other asset classes as few others can offer comparable returns from income, capital gains and FX appreciation, Baring Asset Management believes.