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Looking east and well beyond

At the end of last year, a new stock exchange was unveiled in Vienna – the New Europe Exchange. It typifies the Austrian financial markets: it’s a joint venture with a German partner aimed at trading equities of central and eastern European companies. Austrian banks have long known they cannot survive on the meagre profits at home. Increasingly their search for new business will lead them beyond even near neighbours.

January 01, 2001

BT rings up hefty bill for global bond funding

Issuer: British TelecommunicationsAmount: $10 billionType of issue: global bondDate of issue: December 5, 2000Bookrunners: Merrill Lynch, Morgan Stanley, Schroder SSB

January 01, 2001

Heading for a sharp slowdown

Mexico ended 2000 on a high note. It was not only the fastest-growing economy in Latin America but posted its best economic performance in 20 years. Now, as it moves into 2001, analysts are divided on how it will fare. What is clear, however, is that regardless of the outcome, something must be done to improve the stock market's lacklustre showing.

January 01, 2001

Crackdowns and corporate governance

Corporate governance is back on the agenda in Russia. Along with squashing the oligarchs and bashing the regional governors, as part of Putin's "law and order" drive, the president also wants to bring Russia's companies to heel.

January 01, 2001

Strong central bankers depart

Poland, Hungary and the Czech Republic offer three different puzzles for western European banks. While the fall of the iron curtain presented new opportunities in new markets, the transition from communist regimes to free market economies is still proving a painful struggle.

January 01, 2001

Renaissance reassesses restructuring

Stephen Jennnings, CEO at Renaissance Capital, looks at consolidation in Russian industry.

January 01, 2001

A sovereign in search of liquidity

"If Austria's capital market can be proud of one thing above all else," says a foreign banker in Vienna, "it is the performance of the Federal Financing Agency. I would say that in sophistication and risk management Helmut Eder and his team are one of the top five borrowers in Europe."

January 01, 2001

Cash management takes to the internet

Although the internet is not tearing up the rule-book in cash management, it is subtly altering the banks’ business models, both changing the way banks provide these services and creating a new class of customers. By Chris Cockerill.

January 01, 2001

Could TradeWeb unravel from inside?

Jim Toffey takes a seat in the conference room of his 51st floor offices in the World Trade Center in downtown Manhattan. His composed manner is the result of increasingly broad recognition that he has helped build what is thus far the only successful multi-bank broker-to-client trading consortium. Back in the mid-1990s he and Lee Olesky, now Europe CEO of Brokertec, persuaded their employer, Credit Suisse First Boston, to allow them to set up an electronic platform to trade US government bonds.

January 01, 2001

Downright worry versus cautious optimism

Following the turbulence of 2000 in financial markets - with the euro in free fall, volatility in tech stocks, a climbing oil price and continuing problems in Japan - economists are divided into two camps over the outlook for 2001: the cautious and the downright worried.

January 01, 2001

Opinion

Bloomberg for mayor?

Is news and trading organization chief Mike Bloomberg set to run for mayor of New York? That's certainly the impression several of his senior staff have given, and Bloomberg himself has made no denial.

January 01, 2001

Opinion

Dye rides again

Just when you thought it was safe to go back into the stock markets, the biggest bear on the block is back.

January 01, 2001

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