Turkey looks to diversify infrastructure debt

Turkey looks to diversify infrastructure debt

Banks not be able to shoulder the debt burden

Innovations in Wealth Management Technology Awards 2014

Innovations in Wealth Management Technology Awards 2014

The rise of new players with technology at their core



News and opinion

  • Amrolia to lead Deutsche Bank digital drive

    FX market veteran takes up new role developing digital technology and reducing business complexity across Deutsche Bank’s markets platform


  • Against the tide: Eurozone still under the cosh

    The financial sector remains central to the eurozone’s economic woes. Promises of ECB support only prolong the problem.


  • Japanese portfolio flows support weaker yen but raise default risk

    Long-awaited changes announced last week to the composition of Japan's state pension fund portfolios, combined with increasing flows into foreign – predominantly US dollar – assets from retail investors and the insurance sector, should weaken the yen, but could be storing up problems in the long term.


  • Social trading grows amid calls for regulatory oversight

    The full-scale disruptive potential of social trading is beginning to become clear, according to proponents. But there are fears that it is encouraging inexperienced traders to load up with risk in the pursuit of large returns and there have been calls for tougher regulation.


  • Looming China crisis adds to eurozone and emerging-market threats - ECR Q3

    The latest results from the Euromoney Country Risk survey point to an unprecedented rise in risk across almost all geographical regions since June, with emerging markets (EMs) taking the biggest hit as doubts over China, the eurozone and US liquidity support weigh heavily on experts’ evaluations.


  • Real estate: A curious case for Qatar

    The QIA has found itself on both sides of a property spat. But when in-fighting turns into a court case, only the lawyers will end up winning.


  • Banking: The cost of fintech

    Headcounts might fall as banks prepare for the digital future, but those whizz kids building apps don’t come cheap.


  • Corporates facing risks with open-account trading

    Companies are increasingly using open-account transactions again to facilitate mutual global trade, but by almost cutting out trade-finance banks entirely, companies are opening themselves up to risks.



Features

  • Too quick to PIK? The deals set to haunt European high yield

    Participants in the European high-yield market say the collapse of Phones 4U, which left PIK-note holders wiped out, was a one-off event. But it serves as a stark reminder of the liquidity trap that lies in wait for yield-hungry investors chasing each other further and further down the credit curve. And it calls into question whether European investors have developed the necessary credit skills to invest in such risky assets.


  • Dark clouds still loom over India IPOs

    The feelgood factor from the election of Narendra Modi as prime minister does not seem to be translating into better fees for IPO bankers – yet.


  • Ukraine's banks spot an opportunity

    Politicians have promised that reform is on the way. International investors are apparently ready to step in if the conflict calms. But will it be in time to rescue an economy bedevilled by fighting, corruption and currency shortages? Banks are struggling to survive, hamstrung by lack of funding and capital. On the eve of parliamentary elections, Euromoney visited Kiev to canvass the views of policymakers, bankers and international sponsors. Is there light at the end of the tunnel?


  • CEE exchange consolidation: Fair exchange

    Stock exchange consolidation is back in focus in emerging Europe after the appointment of a new head for the Warsaw bourse. Further tie-ups across the region could yet prove politically problematic.


  • Africa: Banks and telcos mobilise for money

    There’s no doubt mobile money is Africa’s future, but who is best equipped to benefit most: the telcos with their networks, or the banks with their products and service? And why are they fighting when they could be cooperating?


  • AIIB struggles for lack of investment

    China is pushing it as a way for Asia to free itself from the institutions of the west. But can it force through its formation when so many other countries in the region seem reluctant to add to the balance sheet and to China’s dominance?


  • Rajan’s surgical strikes

    Reserve Bank of India governor Raghuram Rajan is battling inflation and crony capitalists to open a new chapter in the Asian superpower’s growth story. Rajan – Euromoney’s central bank governor of the year 2014 – reveals his blueprint for reforms and issues a stark warning about the cracks in the global economy.


  • HFT: Flash boys come to Asia

    High-frequency trading is not confined to Europe and north America. Some Asia-Pacific countries are further along in embracing the strategy than others.


  • Essien’s Ecobank charm offensive

    Albert Essien has brought much-needed calm to a bank that, just a few months ago, was in crisis. Ecobank’s African network remains intact. It now has two powerful, strategic shareholders. But can the bank avoid repeating the mistakes of the past?


  • Project Neptune rising amid renewed liquidity concerns

    With volatility returning to bond markets, investors are fretting once more about illiquidity. Policymakers too worry that it might turn a bond market meltdown systemic. A new project for a shared messaging language to improve the flow of information connecting holders of inventory sounds unglamorous next to all-to-all trading platforms and central limit order books. But the rush of support from both buy-side and sell-side suggests Project Neptune could make a vital contribution.


  • Latin America: Sovereigns shape up for differentiation

    The time when international fund managers saw Latin America as a homogenous investment call is gone. The days of differentiation are here. And as many of the region’s leading countries look to make the difficult transition from developing to developed economies, their finance ministers are fully aware of the need to create, and tell, their individual investment cases.


  • Downfall of a dynasty: The last days of Ricardo Salgado and Banco Espírito Santo

    Bankers in Lisbon say the demise of BES is a watershed moment for the country: the turning point when old Portugal became new Europe. Ricardo Salgado tried every trick he knew to save his empire, but found that the Portuguese establishment could not – or would not – save him. How did Salgado’s efforts to shore up Espírito Santo through the commercial paper market hasten, rather than avert, his downfall?


  • How to engineer a cash management monster

    What does it take to succeed in the increasingly competitive world of transaction services? Internal collaboration, global footprint, adaptability, connectivity and mobile technology all make up part of the equation. But every bank, and every client, is different


  • Videgaray pulls Mexico into shape

    Mexico’s government has introduced a swathe of structural reforms that aim to cut key input costs in the economy, arrest deteriorating productivity and improve the country’s long-term growth rates. However, it is the finance minister’s recent energy reforms that have most made economists and investors buoyant about the outlook for Latin America’s second biggest economy.






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