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Looking for a way back

Despite nearly breaking up soon after independence, Moldova rapidly established a good reputation with international lenders and investors. It wasn't to last. Worse was to come: not least a stalled privatization programme, an agricultural slump and serious payment problems for energy purchases from Russia. Gavin Gray reports on the attempt to put things together again.

April 01, 1998

Kazakhstan builds its local markets

Unless you are a strategic investor, it has never been easy to buy into a big Kazakh company. But that could soon change. The government plans to float its stakes in the cream of the country's industry. The success of this blue-chip privatization will hinge on investor sentiment towards emerging markets. So far, Kazakhstan has weathered the storm from Asia better than other countries in the former Soviet Union. Gavin Gray reports

April 01, 1998

Banks with a confident air

Hungary's central bank president took the view that the government had to invest heavily in putting the banking system in good shape as a prelude to a root-and-branch privatization that did not obstruct foreign participation. As Nigel Dudley reports, foreign strategic investors are already bringing greater efficiency

April 01, 1998

Andre Lee - Pioneering the Asian bond business

Were you doing anything different from other salesmen at international firms?

April 01, 1998

Andre Lee - First start in investment banking

Peregrine's last days, by Andre Lee

April 01, 1998

Andre Lee - Building the business at Peregrine

Peregrine's last days, by Andre Lee

April 01, 1998

Pedro Luis Uriarte, Chief executive, Banco Bilbao Vizcaya

Pedro Luis Uriarte is not a man to mince his words. When asked at a recent meeting with analysts in London what he saw as the way forward for Spanish banking in the context of a single-currency Europe, the 55-year-old chief executive of Banco Bilbao Vizcaya (BBV), the country's biggest bank, casually said he thought it would be a good idea to merge with arch-rival Banco Santander.

April 01, 1998

Herbie is out to lunch

Last National Bank of Boot Hill,

April 01, 1998

How to survive the crisis

For some financial institutions and companies, the Asian crisis is an opportunity. For others it's a simple matter of survival. Investment banks have been among the quickest to slash costs and focus on core businesses. But while some commercial banks are recapitalizing and making provisions for bad loans, others are preparing to expand. Pauline Loong reports.

April 01, 1998

Europe sleepwalks into dangerous territory

Next year, when the sun-loving Germans travel to the Italian Riviera they'll still have to change their Deutschmarks into lire - or will they? Although the lira will be the only legal tender in Italy for a further three years some economists predict that Italian shopkeepers will soon prefer to be paid in Deutschmarks and bank those, even though the lira and the Deutschmark will be components of the same mighty euro.

April 01, 1998

Opinion

Japan: Asia's feeble leader

Japan is stuck in a time warp. Little has changed, and what has is for the worse. The economy is in dire straits. Half-hearted reform erodes the real incomes of households and corporations without the stimulus of real supply-side deregulation. Household savings rates are already historically low. Export demand is waning. The economy will be down this year and next.

April 01, 1998

Turning property income into molten gold

Finding a straightforward structure for turning UK commercial property into tradable securities has long been a desire of the market. One recent deal points the way. By Christopher Stoakes.

April 01, 1998

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