September 2013
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LATEST ARTICLES
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In an exclusive interview, Riad Salamé, the longstanding governor of Banque du Liban, discusses Lebanon’s perpetual political and economic challenges, the resilience of its banks and the prospects for needed structural reform. He even ponders what he would do if he were president for a day.
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The country’s new leadership has yet to find solutions to serious economic issues. Plagued by high inflation and dollar shortages, the nation is not making the most of its oil, much of which is unprofitably in hock to regional diplomacy.
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Famed for his tough approach to regulation, Czech central bank head Miroslav Singer now has his sights set on currency market intervention to reflate the country’s flagging economy. He talks to Euromoney about the limitations of fiscal policy, the prospects for Czech adoption of the euro, and the dangers of regulatory integration.
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Despite the broader reassessment of emerging market investment, Mexican debt and equity issuance is sustaining and enhancing its appeal in international markets.
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For all their strengths, the ferocity of this summer’s market sell-off has amplified some vulnerabilities that could be the first true test in a decade of the resilience of banks and the economy as a whole.
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During the past three years, Russian banks have plastered over holes in the corporate sector with record profits from retail. The choice now might be between fuelling a bubble or stagnation.
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Ngozi Okonjo-Iweala is convinced she can diversify the economy. But fears are growing that the end of the commodities super-cycle will imperil the growth model.
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With growth finally returning to the region, emerging Europe’s big banking players are focusing on the most profitable markets and punishing hostile or incompetent policymakers.
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It was second time lucky for the first Brazilian toll-road financing to come to the market without the support of BNDES. The initial attempt ended in confusion. A year later, the revived deal under new leadership faced severe headwinds.
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From informal retailers to supermarket chains, Africa’s baby boomers are fuelling a consumer boom that is spilling over to agribusiness.
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African Bank seeks rights issue; Impairments at record high
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Threat of military action adds uncertainty; central bank inactivity supporting volatility.
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Local lenders burgeoning; regulators accommodative.
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The volatility this summer suggests that markets will find it hard to adapt to policy normalization. But there are still plenty of reasons to stay bullish.
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No support for Rodovias do Tietê issue; Rotas das Bandeirantes refinancing blocked.
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Sector opened to private participation; expected to add 1.5 points to annual GDP growth.
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Loss for DBS and Danamon; Politics underlines acquisition failure
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Euromoney speaks to providers and users of transaction banking in the Gulf region about the market’s growing importance and the localization of expertise.
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Commercial lending key to earnings growth; valuations more favourable for buyers/sellers.
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Focus on sub-€1.5 billion turnover firms; response to change in corporate behaviour.
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Metals warehousing under threat; Goldman rejects criticism over delays
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Talk to big dealers and investors in the secondary corporate and government bond markets and it is clear that radical changes are coming. An exchange-like model with a central order book for bonds has been talked about for years. The time for action is at hand. The old over-the-counter market-making system is withering.
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The Abenomics high might give Japan’s markets a hangover if structural reforms are not implemented.
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Frontier markets may not lend themselves to an easy acronym. But they deserve plenty of attention from the world’s emerging market investors.
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Despite Roussef’s protestations, only structural reform will put Brazil back on a growth path.
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EC proposals might reduce the influence of credit rating agencies. But are market participants likely to ignore the agencies’ assessments?
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Oil and gold imports problematic for reserves; The worst-performing EM currency this year
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Risk-control measures in place; further step in economic liberalization.
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Banks everywhere hire well-connected employees as standard practice. Why should Hong Kong so grate with US regulators?
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Survey says banking union will not reduce default risk; SSM set-up could be pushed into 2014