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  • If you want a loan from a Turkish state-owned bank, don't talk to its manager. The man who makes the real decisions is a cabinet minister. As Metin Munir reports, this set-up is crippling Turkey's banking system and distorting its economy, but there is little political will to change things
  • Despite persistently high inflation and international financial turmoil, the Turkish economy continues to defy gravity. The country's banks lend to the treasury in lira at high interest rates. As a result, they can offer attractive interest rates on foreign currency deposits too. Armed with a fictitious $50,000, Metin Munir finds out just how good these rates can be and explores the role played by the banks in propping up Turkey's "unsustainable" economy
  • Only invest in Russia, say old hands, if you can afford to - and can't afford not to. Companies building factories and brands in Russia face formidable difficulties. Agreements thrashed out with the federal authorities in Moscow are overturned by local officials. Taxes, operating licences and regulations are all subject to change at a moment's notice
  • With more proven reserves than they know what to do with, Russia's oil companies are keen to take on the world. But to become world beaters they need to restructure, improve their management and form partnerships with western companies
  • How can an investor get exposure to below investment-grade risk while investingin AAA rated bonds? Credit-linked notesprovide an answer, but does anyone really know how to price them? By James Rutter.
  • 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.
  • 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
  • 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
  • Were you doing anything different from other salesmen at international firms?
  • Peregrine's last days, by Andre Lee
  • Peregrine's last days, by Andre Lee
  • 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.