China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The truth about Asian investment banking

September 2006

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Special focus: Middle East and Africa


The flow of financial wealth, largely from developed countries to the newly enriched emerging markets, is vast, unprecedented and opaque, and it is transforming the world at a speed and in ways that are still not well understood.


 
 Middle East

Trading paper wealth for real assets
 
The spending of the oil wealth will suck in imports, provide a medium-term economic boom and might swiftly and radically realign the global order of which countries boast what combination of real wealth, jobs and durable economic activity.
Euromoney September 2006

 
 
    MENA’s financial sector landscape: The shape of things to come
 
Despite Gulf coffers brimming with oil cash and aggressive expansion by some of the region’s banks, inherent barriers to regional consolidation are set to limit fundamental change in the Middle East and North Africa’s financial sector landscape over the next five years. Alex Warren reports.
Euromoney September 2006
 
 
 
 Iran
 
 
    Tehran’s top banker looks to the future
 
Ebrahim Sheibany is governor of Iran’s central bank, a position he has held for three years. He tells Eric Ellis in Tehran that as far as economic policy is concerned, little has changed, despite the election of Mahmoud Ahmadinejad as president.
Euromoney September 2006
    Iran hangs on in financial markets
 
A few big foreign banks have recently suspended their activities, but they are far outweighed by institutions that intend to maintain a connection. And Iran’s prominence as an oil producer means that it sustains substantial economic relations with foreign export credit agencies and governments. Philip Moore reports.
Euromoney September 2006
    Iran’s private sector gets a new lease of life
 
Iran’s authorities are looking to invigorate the country’s private sector with plans to sell up to $110 billion-worth of state assets over the next 10 years. Can the programme attract the foreign investors it needs to succeed? And can Iran’s government learn from past mistakes? Euromoney reports.
Euromoney September 2006
 
 
 
 Lebanon
 
 
    Lebanese reforms caught in the crossfire
 
Israel’s conflict with Hizbullah began just as Lebanon was finding its feet again following the assassination last year of former prime minister Rafik Hariri. The government was in the middle of a series of reforms that it hoped would provide the capital markets with a bigger role in the country’s economic story. Those reforms are now on hold but it is imperative that they are implemented as soon as circumstances allow. Sudip Roy reports from Beirut.
Euromoney September 2006
    Lebanon’s finance minister: ‘The phoenix will rise again’
 
Lebanon’s finance minister, Jihad Azour, told Sudip Roy in early August how his country is coping with conflict.
Euromoney September 2006
 
 
 
 Saudi Arabia
 
 
    Saudi economic city passes the IPO test
 
Saudi investor interest in the IPO of the main company behind the King Abdullah Economic City was overwhelming. It is now hoped that the project will attract equivalent interest from foreign companies intent on participating in the special economic zone. Nigel Dudley reports.
Euromoney September 2006
 
 
 
 Africa
 
 
    How litigation became a priceless commodity
 
French bank BNP Paribas is being sued in the US federal courts by a hedge fund over the financing of contracts for oil from Congo-Brazzaville. Rather than settling out of court, BNP says it will fight the lawsuit all the way. Felix Salmon reports on a grey area of black gold.
Euromoney September 2006
 
 
 
 Nigeria
 
 
    Has Nigeria turned the corner?
 
Nigeria’s economic reforms have been impressive. But after the resignation of a key figure in the country’s turnaround, can they be made to stick? Rupert Wright reports from Abuja and Lagos.
Euromoney September 2006







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