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Foreign Exchange

FX round-up: Andy Abrahams, you’re rubbish...

...While Wax wows them

Lee Oliver, June 01, 2006

Opinion

Goldman builds its World Cup book

One piece of analysis that is certain to be a fixture on desks this summer is a 59-page report by Goldman Sachs. In preparation for the football World Cup, which kicks off on June 9 in Germany, Goldman Sachs has put together a guide to each participating country and its team’s chances of success.

Helen Avery, June 01, 2006

Ukraine: Tymoshenko reassures foreign investors

Yulia Tymoshenko, Ukraine’s former prime minister, says her political coalition is committed to a programme of privatization and economic reform if a representative of her team assumes the top job in the country’s next government.

Sudip Roy, June 01, 2006

BANKING

Street fighters battle with isolationism

At a time when M&A volumes are rising, a toughening up of the CFIUS could deter foreign companies looking to buy in the US. And that would take a serious chunk out of Wall Street’s fees. Kathryn Tully reports.

Kathryn Tully, June 01, 2006

Saudi Arabia: Sabic to issue a multi-billion riyal Islamic bond

Saudi petrochemicals company Sabic will issue domestic sukuk bonds with a total value of at least SR1 billion ($267 million), according to the company’s financial vice-president, Mutlaq al-Morished. The bond should be finalized this month or next, with huge demand expected from the paper-hungry local market.

June 01, 2006

CAPITAL MARKETS

EEMEA round up: Tunisia is overweight

Merrill Lynch has upgraded Tunisia to overweight in response to the government’s announcement of a $1.56 billion debt management programme to be funded by the privatization of Tunisie Telecom. The bank believes this active approach will help bond prices, and categorizes Tunisia as a defensive asset at a time when the global emerging markets outlook is unsteady.

Kathryn Wells, June 01, 2006

BANKING

Can the EU solve the government debt puzzle?

Europe’s government bond auctions are a classic example of market failure. The department of Charlie McCreevy, the EU’s markets commissioner, knows this but can do nothing until it receives an official complaint. If banks are subsidizing the auction process to the tune of €600 million a year, as some claim, why don’t they make the call to Brussels?

Alex Chambers, June 01, 2006

CAPITAL MARKETS

India Inc’s convertible worries

Indian companies have been the largest issuers of foreign currency convertible bonds in Asia. But there could be trouble ahead.

June 01, 2006

BANKING

Philippine banks: Slow fuse to a big bang

Banks in the Philippines are set for more consolidation as new regulations threaten weaker lenders in a fragmented market. High valuations have dissuaded some from deals, but economic recovery might force them to reconsider. Chris Leahy reports.

Chris Leahy, June 01, 2006

Japan: Where have all the issuers gone?

Despite brighter prospects for the Japanese economy, corporate issuers are not rushing back to the international or domestic bond markets. Chris Wright reports.

June 01, 2006

BANKING

The Dutch stay in touch

Why the European government bond markets have failed...and what the European Union would like to do about it

Alex Chambers, June 01, 2006

Foreign Exchange

FX round-up: Longmore bales out of Merrill

Richard Longmore, head of EMEA FX sales, has abruptly left Merrill Lynch.

Lee Oliver, June 01, 2006

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