September 2008
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LATEST ARTICLES
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After a two-year hiatus, China’s regulators are allowing more foreign investment banks to enter the domestic capital markets. What are their strategies and is China’s potential as great as everyone assumes? Sudip Roy reports.
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Jean-Claude Trichet, European Central Bank.
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The continent’s main markets, such as Nigeria, Kenya, South Africa and Angola, are attracting growing interest from investors. Foreign and local emerging market financial specialists analyse this change of attitude.
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Venezuela’s president, Hugo Chávez, has announced plans to nationalize the Bank of Venezuela, the largest bank in the country. Chavez has asked for a meeting with Spanish group Santander, which owns the bank, in order to agree a price.
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The market looks set to remain buoyant, especially in the key Gulf centres, with a widening variety of access routes for investors and developers prepared to commit themselves to local contacts and a local presence.
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Complex securitization without a single new bond.
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Before the September crisis, many banks were looking to sell non-core assets to raise capital. Now, safety in size means mergers are the order of the day. But when the market settles, will investors demand that banks concentrate on what they are good at to maximise returns?
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Mohammed Al-Hussein, Syria’s minister of finance, talks to Sudip Roy about the effects of oil price rises and declining domestic production, the development of the country’s banking sector, and efforts at budgetary control and the development of a T-bill market.
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In contrast to the US and western Europe, the private equity industry in Russia is in rude health. Guy Norton reports from Moscow on the rationale for the optimistic outlook.
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Third rights issue in a row for UK bank is shunned.
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HSBC’s management has stated that developing markets are key to its growth – and no market is more important to it than China. A confidential report seen by Euromoney sets out aggressive targets in the country where a global banking empire began. Elliot Wilson asked the executives in charge of the China push if its goals are attainable.
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Private equity company Lone Star is fast becoming the biggest beneficiary of the banking woes caused by the credit crisis.
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With the sale, among other assets, of the state telecommunications firm, privatization in Iran seems to be accelerating. There is an apparent eagerness to attract foreign investors. But, some say, if capitalism in Iran is being let out of the pen, it is still being kept on a tight leash. Dominic O’Neill reports.
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The European retail structured products market could be more than twice the size previously thought, according to Greenwich Associates.
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Outstanding contribution to finance: Dr Sri Mulyani Indrawati, Indonesia
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David Puth, the former head of FX and commodities at JPMorgan, has resurfaced after nearly two years out of the market. He has been appointed to the new position of head of investment research, securities finance and trading activities for State Street. He will report to Jay Hooley, president and chief operating officer of the Boston-based bank and will sit on the company’s operating group. Puth spent many years at what was originally Chemical Bank, going through several mergers and takeovers to end up at JPMorgan. After he left the bank in November 2006, he founded risk management and advisory group Eriska; he also joined Icap’s board as a non-executive director in November 2007.
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Weak infrastructure is probably the single biggest obstacle to emerging nations fulfilling their potential. Infrastructure shortcomings in Latin America and Asia are well documented but even in the Middle East, a region flush with petrodollars, more investment is required, especially from the private sector.
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China’s finance minister has had a difficult first 12 months in charge, but has succeeded in maintaining the country’s economic momentum.
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Growth potential, better corporate governance, a shot of expert knowledge and a troubled stock market are all reasons why family-owned firms might sell stakes to interested outsiders. Alex Warren reports.
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Banks in central and eastern Europe are still posting results that laugh in the face of the credit crisis. But bad – or at least worse – times might be just around the corner for some. Charles Piggott reports.
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The spectacular growth of Middle Eastern markets is attracting new ventures of all sizes. But smaller, more specialized firms are increasingly popular. Jethro Wookey reports.
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New governor Boediono has to put the central bank back on track as a corruption trial looms over a previous incumbent.
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As foreign banks – with the notable exception of Santander – draw in their horns, local mid-tier banks are racing to take advantage of the domestic boom in Brazil. Chloe Hayward reports.
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There is an old joke that represents a quick and easy way to understand the basic principles of political and economic ideologies:
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It is a sign of the times that, as investment banks in the UK and US downsize, those in the Arab world are doing the opposite.
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ENRC floated in London last year on the promise that it would make transformational acquisitions globally. Its play for rival Kazakhmys has, however, proved abortive. So what next for ENRC and its frustrated shareholders? Elliot Wilson reports.
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Prime brokers' relationships with hedge funds have inevitably be modified by the credit crunch but ultimately the brokers have to provide the full range of services funds require at a reasonable cost and without undue constraints.
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Under his presidency, Pakistan made huge progress in attracting foreign investment, privatization and bolstering the banking system.
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The Philippines’ finance secretary has stabilized the economy during his three-year tenure, but external shocks could derail his plans.
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Massive interest in agricultural commodities has turned cautious. Investors are looking for a more lucrative and less volatile way to get exposure to long-term trends through equities and land. Peter Koh has a look at the menu.