EM Search | Euromoney

Cross-border real estate investment set to grow

London is seen as the property hotspot in 2006.

Helen Avery, May 01, 2006

Benchmarking

CEE Company ranking 2006: Home-grown state success stories

The rush of foreign investment into central and eastern Europe has undoubtedly improved standards of corporate governance. But the results of this year’s Euromoney survey of the best companies in the region reveal that some state-owned companies that might prove difficult to acquire also rate highly for their management standards. Lawrence White reports.

Lawrence White, May 01, 2006

CAPITAL MARKETS

Covered bonds: WaMu ponders pioneering role

(May 2006) It is early days but US issuers are seriously considering covered bond issuance. There are economic and regulatory reasons why this makes sense.

Alex Chambers, May 01, 2006

CAPITAL MARKETS

Hybrids: NAIC resolution some way off

Will US issuers start to look at Europe’s institutional markets?

Alex Chambers, May 01, 2006

Foreign Exchange

Brokers: Icap pulls off coup with EBS purchase

Looks to have got bargain with its $775 million purchase of spot broker.

Lee Oliver, May 01, 2006

CAPITAL MARKETS

High-yield debt: Missing the wood and the trees

China-focused forestry company falls behind in land acquisition.

Chris Leahy, May 01, 2006

CAPITAL MARKETS

Forum set up to improve equity derivatives efficiencies

Equity derivatives dealers have set up an industry group to improve trading efficiency and iron out operational issues in their market.

May 01, 2006

CAPITAL MARKETS

Debt round up: ResCap pays back domestic sub debt early

ResCap was able to pay back its domestic debt owed to GMAC ahead of market expectations following a $3.5 billion multi-tranche transaction ($1 billion of three-year sub, and $2.5 billion of senior – split into $1.75 billion of seven-year and $750 million of three-year).

Alex Chambers, May 01, 2006

BANKING

Asia round up: No bull about China’s Bear

More than a few doubts have been raised about the rumoured plans of state lender China Construction Bank to buy a major stake in US investment bank Bear Stearns. However, sources in the firm’s Asian head office believe the plans are serious. “I haven’t seen a lot of guys with white socks walking around the office yet,” says a senior employee, “but there’s definitely truth to the rumour. It’s typical Bear strategy: late to the party, perhaps, but a smart call.”

Chris Leahy, May 01, 2006

Foreign Exchange

Asia round up: Philippine spreads inside US ones

No, you didn’t misread the headline. This year’s re-rating of the Philippines’ economy recently pushed short-term yields to four-year lows and even inside their US counterparts’ temporarily, according to ING. Could the unthinkable be happening? Might Asia’s perennial underachiever be about to turn the corner?

Chris Leahy, May 01, 2006

Opinion

Deutsche Bank and the FSA: A good, clean fight?

Having been fined £6,363,643 in April by UK regulator the Financial Services Authority for failing to observe proper standards of market conduct and failing to conduct its business with due skill, care and diligence, Deutsche Bank must be keen to promote a spotless reputation in all aspects of its business.

Louise Bowman, May 01, 2006

FM round up: Refco’s photo collection?

A collection of valuable photos brought together by Refco over three decades is on sale at Christie’s in New York in an attempt to raise money to help pay back the $16 billion the commodities trading firm owes to creditors. Works by such photographers as Richard Avedon, Diane Arbus and Andres Serrano are included in the collection, which is expected to raise north of $6 million.

Helen Avery, May 01, 2006

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