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The Kazakh miracle

In just over 12 years Kazakhstan has recast itself from a basket case economy into net creditor to the world thanks to its vast oil reserves. But there are worries that the boom is not being used effectively for the benefit of the citizens and that foreign investors might be interested only in exploiting the country's petroleum reserves. Chris Pala reports.

January 01, 2004

BANKING

Private banking survey 2004 profiles

UBS Wealth Management, Sarasin, Bordier & Cie, Credit Suisse Private Banking, Coutts, Bank Privat, Degroof, Mandatum, SG Private Banking, Sal Oppenheim, CenE Bankiers, Banif, Cuatrecasas, Carnegie, Citco, Man Group, Noriba, UBS, PwC.

Peter Lee, January 01, 2004

BANKING

Slow pace of bank reform holds back loan growth

After a year of inactivity, banking reforms in Russia are moving again. The weak are being weeded out and with new regulations on mergers in the pipeline, consolidation of the country's 1,300 banks is imminent. Ben Aris reports.

Ben Aris, January 01, 2004

CAPITAL MARKETS

Roaring back

Emerging-market investment bankers have been tramping the corridors of power in Kiev ever since Ukraine showed signs of shrugging off its economic torpor in 2000. Bond investors are now following. Nick Parsons reports.

Nick Parsons, January 01, 2004

Foreign Exchange

Tenge places seal on break with Russia

In the summer and autumn of 1993, fewer than a dozen officials worked feverishly in complete secrecy to save Kazakhstan from raging post-Soviet inflation and introduce its first-ever national currency.

January 01, 2004

Putin returns to state control to go forward

President Putin asserts that the Yukos case was a one-off attack on illegality. It's clear, though, that a plan to put Russia's biggest companies more firmly under state control and to change the balance of the economy is under way. The president, not big business, will decide which way Russia goes. Ben Aris reports.

Ben Aris, January 01, 2004

CAPITAL MARKETS

UK investors can go for gold

While bankers are going through hoops to sell structured financial products to retail investors, UK private investors can now buy one of the oldest and simplest commodities in the world – gold.

Mark Brown, January 01, 2004

CAPITAL MARKETS

Bosnia and Herzegovina reopens for business

A country still associated in many minds with a savage war is determined to put the past behind it, attract foreign investment and join the EU. It needs to move soon or it will be left behind by the rest of Europe. Julian Evans reports.

Julian Evans, January 01, 2004

CAPITAL MARKETS

Simultaneous buy and sell speeds Center Parcs IPO

Deal: Center Parcs flotation

Peter Koh, January 01, 2004

Benchmarking

Private Banking Survey 2004: full results and methodology

Private banking 2004: The reinvention of private banking

January 01, 2004

Opinion

Hoare enters the modern age

If you are accustomed to the light and space of the trading floor, sitting on orthopaedically sensitive office furniture in front of ergonomically designed keyboards, spare a thought for your counterparts in private banking.

Mark Brown, January 01, 2004

CAPITAL MARKETS

Foreign banks return to Iraq

Iraq's banks look set to bounce back this year, shrugging off the crippling impact of nationalization, a decade of sanctions and a US-led invasion. Economic reforms introduced by the Coalition Provisional Authority and the US-appointed Iraqi Governing Council have opened the way for the entry of foreign banks and the consolidation of the local private banking sector.

Kate Luxford, January 01, 2004

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