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The long-awaited privatization of Svyazinvest, Russia’s national fixed-line telecoms operator, could finally get under way within the next two months.

Azerbaijan Electronics, one of the country’s largest energy utilities, has sold a $1 million one-year bond, the first from an industrial issuer in the country. The bond yields 14.5% and was issued at par.

Central bank to change tier 1 regulation in two months.

Austrian bank CA IB has launched REX, the first publicly available real estate index to cover emerging Europe and the closely related Austrian market.

Hugo Chávez, Venezuela’s president, has issued a stark warning to the US government – threatening to blow up his country’s oil fields if the US were ever to attack. Speaking at a mini-summit in Paraguay involving four Latin American presidents, Chávez said: “We won’t have any other alternative but to blow up our own oil fields – they aren’t going to take that oil.” Venezuela is the fifth-biggest oil exporter in the world and one of the largest suppliers to the US. The US denies that it has any intention of attacking Venezuela.

Guillermo Nielsen, Argentina’s former finance secretary, has a new role in the public sector. He is the minister of finance for the city of Buenos Aires, which has the third-largest budget in Argentina. Nielsen’s main task will be to reorganize the working of the city government and to attract investment.

A new IDB report says the financial community should take advantage of the benign economic conditions and produce instruments capable of automatically compensating for economic setbacks. They include bonds linked to commodity prices, national growth rates or the occurrence of national disasters.

Forget the stymied constitution, Parisian événements, electoral tangles and government overspending – eurozone corporates are doing just fine and consumers are picking up on the mood.

Morgan Stanley has made its most senior investment banking hire since John Mack took over as chief executive last year and since the departure of one of its star M&A bankers, vice-chairman Joe Perella, one of the key defectors during the turmoil at the bank in the first half of last year.

"It becomes clear that, despite the border guards’ protestations, visas are obtainable at the crossing – for a price. The bargaining – affecting only two of us since Russians do not need visas to travel anywhere in the CIS – begins at $1,000."

“These people aren’t really rich,” the manager at one office tells Euromoney, “their net worth might be as little as $5 million to $10 million.

Deutsche Bank is about to launch an entirely new FX trading platform aimed squarely at attracting flow from the retail end of the market.