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Public benevolence, private parsimony

When a country really needs financial help, it turns to the community of nations. Iraq, for instance, burdened by unsustainable foreign debt, got an agreement last year to wipe out 80% of its Paris Club debt. Indonesia, after the December 26 tsunami, got $3.3 billion of debt relief from the Club within a few weeks of the disaster.

February 01, 2005

BANKING

Poll of polls 2005: Citigroup tops a year's worth of polls

Citigroup regains top spot in our poll of polls from Deutsche Bank, which had nudged it back into second place last year. Hard data from the league tables confirm customers' votes that put Citigroup at the top in capital raising and cash management.

Andrew Newby, February 01, 2005

Poll of Polls tables

February 01, 2005

BANKING

Private-equity firms take centre stage

Much of the action in financial markets this year will centre around private-equity fund managers. They are leading the bidding on new acquisitions, breaking records for new fund raising and seeking exits. But if it is a good time for them to sell, how can it also be a good time to buy? Delivering returns is the challenge.

Peter Koh, February 01, 2005

Euro carbon trading graduates to cash settlement

The completion last month of the first cash-settled forward trade on EU CO2 allowances is a big advance for the European emissions trading market (EU ETS). GreenStream Network (GSN) brokered the trade between counterparties Dresdner Kleinwort Wasserstein and Sampo Bank of Finland.

Deborah Kimbell, February 01, 2005

CAPITAL MARKETS

Obstacles to altruism

The tsunami disaster prompted a generous debt payment moratorium proposal from the G7. But, factors such as debtor reputation and comparability came into play, taking the shine off the good deed.

Felix Salmon, February 01, 2005

CAPITAL MARKETS

New Year gets off to a fiery start

Issues by sovereigns, sub-sovereigns and agencies tend to do well at the start of the year, mopping up high January cash balances. But in 2005 quality issuers have done even better than usual, raising hopes of a good year.

Mark Brown, February 01, 2005

Small caps just keep on winning

Small-cap companies outperformed their bigger cousins again in 2004, a trend that a joint ABN Amro and London Business School study released last month finds consistent with results over the past five years worldwide and over the past 50 years in the UK.

Peter Koh, February 01, 2005

Bancolombia aims higher

Corporates from Colombia have a hard time in the international capital markets. However many miles they rack up meeting investors, the country remains best known for an infamous export and the cartels that produce it.

Ben Sills, February 01, 2005

BANKING

Deals of the year: Latin America

Best Sovereign bond deal

February 01, 2005

Streetwise: A market fix for Social Security

The Bush administration would have it that you're either with it or against it on Social Security reform. The Democrats may have fallen for that but Henry Blodget reckons there is a middle way.

Henry Blodget, February 01, 2005

Time for one last throw of the dice

It has been a dismal start to Hong Kong's trading year, with the Hang Seng off 1,000 points from the year-end. As the market looks increasingly sick, even the red-hot M shares (Euromoney January 2005) drawing on Macau's casino boom have started to feel the chill, with most of them sharply down.

Chris Leahy, February 01, 2005

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