May 2011
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LATEST ARTICLES
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Power, mining and energy companies dominate Euromoney’s annual survey of the best companies in CEE, but diversity is increasing as markets mature
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Euromoney: "What is it about your client’s economic fundamentals that make it such a compelling story?"
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The Listing in Hong Kong Forum at the Kempinski Khan Palace hotel in Mongolia’s capital, Ulaan Baatar, on April 14 involved a range of high-profile speakers and delegates, including representatives from the Hong Kong Stock Exchange, regional product heads from various global banks and dozens of local chief executives. None, however, commanded quite the attention afforded to Kyokushuzan Batbayar, a Mongolian sumo wrestler returned from Japan to become a member of parliament. Translator in tow, the cheerful Batbayar toured the room handing out his card to local businessmen and some clearly impressed foreign bankers. "What. A. Unit...what an absolute unit!" was the awestruck response of one senior such figure at the event. Apparently known as the gino depato or "department store of techniques" while in Japan for his wide range of holds and throws, many adapted from Mongolian wrestling, Batbayar was a popular figure among his countrymen during his time abroad and now looks set on a successful political career. With many Mongolians worried about foreign investors getting the upper hand when wrangling with Mongolia’s government, his will surely be a reassuring presence on any negotiating team.
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Strong growth and the government’s debt swap to holdouts have opened the bond markets to the country’s private sector. But October’s presidential election is already stirring uncertainty. Rob Dwyer reports.
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The royal wedding was British but New York knows a money-spinner when it sees one.
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Sir Fred Goodwin, ex-chief executive of RBS, who found himself the lightning rod for UK public anger over the financial crisis in 2008, seems to have again served himself up on a plate to the UK media for ridicule.
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Nedbank’s owners are still looking for a buyer, after the failure of a deal for HSBC to buy the South African bank last year.
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One of the latest books to be added to the library of publications aimed at dissecting the causes of the financial crisis is "The unravelling of structured investment vehicles: how liquidity leaked through SIVs" by Dr Henry Tabe of Sequoia Investment Management.
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The global credit crunch and associated economic downturn hit Kazakhstan hard. But there is growing evidence that the country is back on the path to recovery. Guy Norton reports from Almaty.
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Five years after Saudi banks saw their investment banking and asset management arms split from their commercial banks, the sector is still finding its feet. Three of the firms that got a head start tell Chris Wright how the battle for market share is likely to play out.
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"What does he mean by this? I suppose it is about police coming and taking us like we see with the press. What kind of police-type measures could be imposed against a bank? This is like a joke. Isn’t this a state of law?"
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For a company that likes to keep its head below the parapet, commodities trader Glencore could not have appointed a more incongruous chairman.
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The nation’s gold, coal and iron-ore reserves are making it the world’s fastest-growing investment destination. But a lack of infrastructure funding and planning threatens to derail the country’s rapid transformation. Lawrence White reports from Ulaan Baatar.
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After decades of neglect, infrastructure in central and eastern Europe is in urgent need of upgrading. Now projects across the region are on hold in the wake of the global downturn. Lucy Fitzgeorge-Parker talks to the public- and private-sector bankers trying to get the market back on its feet.
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Qatar’s accession to the MSCI Emerging Markets index would open it up to new investment inflows and might prompt a liberalization of other equity markets in the region
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South African leadership in African markets is over; but it holds a lesson for the continent.
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Market seen as good value after protracted underperformance and earthquake; But care needed in finding recovery potential
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Senate committee report might deter clients; Stock price under pressure
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Basle III unpopular with bank bondholders; Regulators insist system will be safer
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Bank chiefs have finally accepted that their hopes of a level regulatory playing field will remain forlorn. US bankers are up in arms about Europe’s treatment of risk-weighted assets. Europe’s banks face a fault line, where they operate internationally but risk being penalized for the relative size of their balance sheets to national GDP. What does the future hold for banks that could be too big for their borders? Peter Lee reports.
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Australian Treasury stops exchange takeover; Nasdaq, CME possible alternative partners
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Unilever prices just over 1%; Renminbi IPO in HK meets caution
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Current account deficit key economic weakness; Government spending promises add to woes
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Strong first-quarter results at UBS might have come just in time to prevent the implosion of its bid to regain a spot at the top table of investment banking.
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Fewer prestige buyouts by state funds; International investors wary of political risk
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Suddenly, the clouds converged and the warm spring sunlight dimmed. This was how I felt when I read that 47-year-old Pietro Ferrero, chief executive of the Ferrero group, and heir to one of Italy’s biggest fortunes, had died of a suspected heart attack. Ferrero died while bicycling on a coastal road near Cape Town during a break from a business meeting in South Africa. US treasuries
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The region’s economic growth is healthy but over-reliant on the rest of Europe. Asia beckons.
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Continuing political instability in North Africa and the Middle East, together with oil-supply constraints, will increase energy risks and therefore prices.
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European banks benefit from euro introduction; spurs consolidation of market share.
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First Rand in Nigeria acquisition talks; Absa, Barclays Africa in new integration push