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BANKING

Great Wall Street of China

China’s domestic capital markets are beginning to open up to foreign banks. Although there are a multitude of opportunities and the scale is unprecedented, striking a successful strategy is vital. Chris Leahy reports.

Chris Leahy, September 01, 2006

Opinion

Japanese hedge funds: Japan’s long-only trap

The point of hedge funds is to produce returns even in a down market. Self-styled long/short funds must not allow themselves to become long-only.

September 01, 2006

BANKING

Banking: Central America moves out of financial backwater

As HSBC buys Banistmo for $1.8bln, analysts predict that the region is ripe for consolidation.

Leticia Lozano, September 01, 2006

Borrower view: Lawrence Hickey – Digicel punches above its rating

Caribbean wireless operator Digicel is proving to be one of the most sought-after borrowers in the emerging markets. Sudip Roy speaks to CFO Lawrence Hickey about what makes the company such a popular credit.

Sudip Roy, September 01, 2006

Opinion

Quotes of the month

“The phoenix will rise again”

September 01, 2006

BANKING

Monetary policy: Surprise UK rate hike fuels leak rumours

Some unusual price action just before the Bank of England announced an increase in its key repo rate in August has got the conspiracy theorists muttering.

Lee Oliver, September 01, 2006

CAPITAL MARKETS

Debt restructuring: Belize defaults on external debt

The tiny Caribbean nation of Belize hasn’t been able to catch a break since being devastated by four hurricanes and major storms between 1998 and 2002. The cost of rebuilding following those storms, along with a certain degree of fiscal recklessness, resulted in a massive increase in Belize’s debt: private-sector obligations alone rose from $296 million in 2001 to $646 million in 2003 – an increase that has now led to imminent default.

Felix Salmon, September 01, 2006

CAPITAL MARKETS

Debt market round-up: ...and steals Sismey from JPMorgan

David Sismey, head of financial origination at JPMorganCazenove, has resigned to join Goldman Sachs. Sismey is one of the best known and most highly rated UK financial institutions originators and worked at JPMorgan for seven years under David Marks before moving into the US bank’s joint venture with UK broker Cazenove.

Alex Chambers, September 01, 2006

CAPITAL MARKETS

CDOs: Axa turns back the clock

Are structures like Jazz music to the ears of investors worried that the credit cycle will turn?

Alex Chambers, September 01, 2006

BANKING

China: Two sneak through

China has so far allowed just two foreign investment banks to strike deals to manage domestic securities firms. The deals are very different in structure, but both focus on the key issue of control and both are mired in controversy. Chris Leahy reports.

Chris Leahy, September 01, 2006

BANKING

Turkey: Halkbank privatization picks up speed

Government takes advantage of foreign appetite for Turkish assets by approving privatization plan.

Kathryn Wells, September 01, 2006

Opinion

Singapore: New land of smiles

Move over Thailand. Singapore’s government has decided that, at least for the duration of September’s IMF/World Bank meetings, it will usurp its regional neighbour’s soubriquet, “the land of smiles”. In a speech in June, prime minister Lee Hsien Loong exhorted Singapore’s citizens to greet its estimated 16,000 visitors with “4 million smiles”, a rough approximation to the city-state’s population, stressing the importance of showing the “human face and touch of Singaporeans”.

Chris Leahy, September 01, 2006

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