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Velvet costs are piling up

An easy transition to capitalism is proving a mixed blessing in the Czech Republic. The so-called Velvet Revolution has left many essential works undone. Banks remain in state hands and underegulated markets have encouraged asset stripping and fraud. Then as former prime minister Vaclav Klaus began to get serious about change, his government fell. In the ensuing political stalemate, reform is the chief victim. Nigel Dudley reports.

January 01, 1998

BANKING

The pundit's progress

When Daniel Lian changes his job, the media are sure to follow. When he resigned from the NatWest office in Singapore recently, the permanent Reuters camera, one of only four in the country, also moved out. Sure enough, when he started at ANZ the camera reappeared, enabling his popular television appearances to continue. This is impressive testament to the currency and bond strategist's reputation as a television economics pundit.

January 01, 1998

Syndicated loans: The big squeeze

For years, bankers have been waiting for the bargain basement pricing in the syndicated loan market to bottom. Now, thanks to the Asian financial crisis and, particularly, the troubles facing Japan's banks, it may finally have happened. The funding premium Japanese banks are paying in the market has widened spreads - and in some cases is forcing deals to be pulled altogether.

January 01, 1998

BANKING

Why didn't they fly in Breuer?

Why did NatWest refuse Deutsche Morgan Grenfell's offer of £150 million ($248 million) for the equity operations of NatWest Markets?

January 01, 1998

BANKING

Twinkle little euro

Never let it be said that Euromoney doesn't break new ground in its tireless coverage of finance. Last year we brought you the news, from Bowie bonds to Chechen bonds, financing lapdancing to book-writing bankers.

January 01, 1998

BANKING

... and get ready for more bonds?

Asia's crisis brought bond issuance in central and eastern Europe to an abrupt halt. The region's issuers, tarred with the same brush as south-east Asia, have seen their spreads widen dramatically. So what will tempt investors back? And how long will it take? Robert Minto finds out.

January 01, 1998

Beware state guarantees

Lending to European borrowers backed by a government guarantee should be as safe as houses. But beware of the state aid rules, warns Christopher Stoakes.

January 01, 1998

BANKING

Counting the weeks

It's just under a year until the start of European monetary union, and you would expect banks to be pulling out all the stops. But while they wrestle night and day with the technical details, little is being done to inject some fun into the proceedings. Salomon Smith Barney is leading the pack with its "Countdown to Emu calendar" - displaying the number of weeks left until January 1 1999 - recently erected in the firm's lobby.

January 01, 1998

Michel rings a bell

Last National Bank of Boot Hill,

January 01, 1998

Three ways to make a mark

Spanish banking is clearly segmented by strategy, domestic banks competing for the retail markets and foreign banks heavily involved in offering services to multinationals and attempting to develop lower-level corporate business. With some privatizations still to be undertaken and rapid development of the equity market at both issuer and investor level there's substantial growth to play for. Margaret Popper reports.

January 01, 1998

An issuer with an open mind

Issuer: Banque Générale du Luxembourg

January 01, 1998

Assessing the damage: Uncertain times in the currency markets

The crisis in Asia is changing perceptions about almost every currency, and no-one is certain what will happen next. Suzanne Miller reports on uncertain times in the currency markets.

January 01, 1998

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