Search results for

Privatization of Latin America's utilities has thrown up plenty of investment opportunities. Buyers need to finance not only the purchase but also capital expenditure - especially after years of underinvestment. Both have been affected by the Asian crisis. As general uncertainty about emerging markets persists, there are also concerns about the state of the all-important domestic US capital markets. James Rutter reports.

It enjoys solid growth, a stable currency and low inflation. Can Croatia's strong recovery from war and recession continue? Charles Piggott reports

Banks in the United Arab Emirates are better regulated than they used to be and have invested in new technology. But, as Nigel Dudley reports, the sector is still highly fragmented and vulnerable to outside shocks

Boosted by improving economic fundamentals, the Riga Stock Exchange also enjoyed a relatively successful year in 1997 although in common with its Baltic peers it experienced a sharp reversal of fortune in the fourth quarter of the year.

Despite the negative effects of the financial turmoil in emerging markets as a result of the economic meltdown in Asia, the Tallinn Stock Exchange (TSE) still enjoyed a successful year in 1997.

Korea stares into the abyss

Boothill Superhuman Resources (incorporating the Executive Exchange),

Korea stares into the abyss

The National Stock Exchange of Lithuania (NSEL) recorded a modest increase in 1997, with the leading LITIN-A index rising from 1660.7 to 1939.1. In 1998 the market is forecast to rise by 15% with a target figure of 2510 for the LITIN-A. Market capitalization is expected to increase from $2.55 billion to $3.5 billion although growth in the first quarter is predicated on a satisfactory solution to the economic turmoil in Asia which has hampered the expansion of the Lithuanian market. The major news for 1998 will be the privatization of government stakes in strategic enterprises such as telecommunications company Lietuvos telekomas, stevedoring company Klasco, shipping company Lisco, oil refinery Mazheikiu Nafta and fuel retailer Lietuvos kuras.

Deal: Trade sale

Despite the current signs of relief in Japanese and other Asian financial markets, deflationary forces in the region are set to grow. That will force the US and Japan to signal the end of the Asian crisis with a new global policy framework and massive fiscal stimulus in Japan. Investors should prepare for a policy reversal.

Banks like lending money to cement relationships. With a credit derivative they can get the loan off balance sheet and lend some more. Where's the catch? The market for these products is still in its infancy, although there are pockets of liquidity. And payout practice and definitions of default need standardizing. But the market is revolutionizing the way banks handle credit and their balance sheets. Theodore Kim reports.