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This article appears courtesy of Institutional Investor

The ECB will soon raise the refi rate, but will then happen to the euro yield curve? Flattening or an overall rise?

Hurricanes don’t just destroy cities: they can also destroy sovereign finances. Hurricane Ivan, for instance, wiped out so much of Grenada’s infrastructure in September 2004 that by the end of the year the country was in default on its debt. Things were not helped when Hurricane Emily struck Grenada in July.

BNP Paribas has filled its global head of securitization post. Former Morgan Stanley securitization syndicate and trading head Tim Drayson joined last month. Drayson left Stanley after 10 years in March and joins at a time when BNPP has advertised its intention to grow its securitization business.

The M&A boom is good news for equity capital markets. M&A, as well as generating more transactions, tends to be more profitable than other types of ECM deals. Banks with strong M&A businesses stand to benefit most. Peter Koh reports.

Why CFOs should stop mistrusting hedge funds

Banco Central de Chile president Vittorio Corbo is arguably Latin America’s most respected central banker. He tells Euromoney how he is keeping a lid on the region’s biggest economic danger – inflation. Sudip Roy reports from Santiago.

Technology companies have to swallow harsh market truths – and some pride – and give up independence.

Harvard University’s endowment fund has appointed as its head emerging-market legend and one-time candidate as IMF head Mohamed El-Erian. Formerly, El-Erian was running $30 billion in funds at bond investment manager Pimco. He takes over from Jack Meyer who, following complaints about his large compensation package decided to leave with some of his team to run a hedge fund. Meyer is likely to make a success of the new venture given that he has built up Harvard’s fund from $4.7 billion in 1990 to its present $25.9 billion.

This article appears courtesy of Institutional Investor

India’s private-equity business is growing fast again. But unlike the late-1990s boom of flows to technology companies, money is heading into a broad range of sectors, reflecting the strong performance of the economy. Kautilya Shastri reports.

Kazakhstan – Kazakhmys, the world’s tenth-largest copper producer, should raise as much as $1.4 billion when it floats between 26% and 30% of its stock in London later this year. The company boasts an impressive ebitda margin of 60% and a net margin of 34%. It mines about 90% of Kazakhstan’s copper output. Copper prices have gone through the roof in the past 12 months and demand for the shares reflects this. The share price range had been set at $8.10 to $9.60. Credit Suisse First Boston and JPMorgan Cazenove are joint global coordinators and bookrunners.