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High-yield bond sales from emerging Asia are expected to rise in 2004 to their highest since the Asian financial crisis of 1997/98, bankers say. US interest rates at 46-year lows and global economic optimism have encouraged investors to buy high-yield emerging market bonds and prompted many lesser known companies to tap the market for the first time.

A Dublin court has ruled that Parmalat Finanziaria's Irish unit Eurofood must be liquidated, as requested by the group's creditor Bank of America.

Bank of America has added five members to its European debt platform in a bid to expand its universal bank strategy in Europe.

Trema, the premier provider of strategic software solutions for the financial industry, today announced the appointment of Régis Castagné as General Manager for the Southern Europe, Middle East, and Africa region. Mr Castagné brings over 15 years experience in the financial industry to Trema and will have a specific remit to develop the company's already prestigious presence in France.

South-east Asian corporates are following the lead of their European and US competitors as S&Ps reports an overall improvement in credit quality with upgrades outnumbering downgrades by twelve to seven. The number of rated corporates under CreditWatch or with a negative outlook has also decreased notably from thirteen down to four.

The importance of working capital as a business performance indicator was highlighted in a recent poll of 134 European company finance professionals, conducted online on behalf of ABN Amro and KPMG.

In an effort to increase involvement by the small business community in developing U.S. accounting standards, the Financial Accounting Standards Board (FASB) has established a Small Business Advisory Committee. Committee members will be a resource to the FASB in providing additional and ongoing input on accounting issues before the Board.

Corporate Finance magazine has extended the deadline on its first annual analysis on risk management to corporates until Friday 9 April. To ensure our research is comprehensive, please take a few minutes to fill out our confidential questionnaire.

FranklinCovey, which has surveyed more than 2.5 million people about productivity and effectiveness issues, last week released the findings of its latest Execution Quotient study of 12,182 U.S. workers.

Four out of every ten US multinationals would be unable to comply with the SEC regulations on quarterly and annual reports if they were implemented immediately, concludes a recent report by Pricewaterhouse Coopers. SEC rulings to be implemented by 2005 dictate that corporates must file quarterly reports in 35 days and annual reports within 60 days of the period end.

The European Commission has proposed tough new auditing standards in order to prevent future accounting scandals.

The focus on Barcelona as a top treasury location seems to be attracting more than just the world's multinationals. Nordic Financial Systems (NFS), the treasury service provider, has opened an office in the Catalan capital to tap in to the burgeoning corporate interest. As CF noted in its July 2003 edition, Barcelona is proving a strong draw for corporates. Half of the Japanese, German and French companies in Spain are in Barcelona and are taking advantage of labour costs below the EU average and cheap office prices bettered only by Lisbon, the Portuguese capital.