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Turning a profit by investing in China’s dysfunctional domestic securities markets has proved a perilous occupation for most fund managers. Recent share reforms have helped to improve an appalling investment climate but there is some way to go before China’s domestic asset management industry begins to resemble anything like those of more developed markets.

Chelsea Clinton, the daughter of former US president Bill Clinton, has moved to Avenue Capital from consultancy McKinsey. Avenue Capital Group is a $12 billion hedge fund firm focusing on distressed securities in which Morgan Stanley recently took a small stake.

First it was the London Stock Exchange. Then Euronext. Then Euronext and Borsa Italiana or maybe just Borsa Italiana. Deutsche Börse clearly wants to do a deal.

First there was Pop Idol, then American Idol, and now what amounts to Internship Idol.

CVRD deal heralds mining finance bonanza

EBRD’s chief economist urges great investor participation.

But will others also shun the obligations foncières structure?

EBRD’s chief economist urges great investor participation.

Composite economic indicator CROLEI keeps growing in September. The composite leading economic indicator CROLEI, which is complied by the finance ministry and the Zagreb Institute of Economics, continued on upward path in September, improving by further 0.61pts m/m. In august, it added 1.14pts m/m after 0.46pts increase in July and 0.47pts increase in June. The finance ministry commented that the continuous growth indicated strong industrial and economic growth by the end of 2006 and in early 2007. The components of the index that showed m/m growth were: number of tourist overnights; real retail sales; total liquid assets; cash and deposits in kuna; commercial banks’ foreign exchange reserves on term deposits; and money market interest rate.

Over the years various European names have sold dollar bonds using global formats aiming to find non-European buyers. However, few have had much success in the US. This relative failure has been put down to various factors including the lack of familiarity with the concept of covered bonds and an insular outlook among the investor base. But there has already been evidence that things are changing.

Barclays Capital says it has joined LiquidityHub, a liquidity aggregator in interest rate swaps and US treasuries expected to start in early 2007.

It’s not just sports stars and teenagers who appreciate the value of a well-placed brand name.