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

Special focus: Emerging Markets


Why Brazil’s capital markets are buzzing; The people making microfinance more than just part of the new philanthropy; See the man who knows how to make money in emerging market debt


Emerging markets
 
 
    Microfinance: Beyond philanthropy
 
Big banks are beginning to look beyond the kudos that socially responsible investment brings and are introducing microfinance to the capital markets as a viable, profitable business. Zach Fuchs reports.
Euromoney September 2006
    How Ashmore became part of the EM establishment
 
The London-based asset management firm has taken the lead in persuading institutional investors worldwide, including central banks and pension funds, to go for long-term investment in emerging market assets. Felix Salmon reports.
Euromoney September 2006
Country risk
 
 
    Country risk September 2006: The repercussions of oil and conflict
 
The latest country risk poll reflects a global economy in good health, despite a period of stock market volatility and the prospect of a slowdown. But the Middle East and the high price of oil could have far-reaching implications, writes Florian Neuhof. Research by Paul Pedzinski.
Euromoney September 2006
Latin America
 
 
    The inexorable growth of credit derivatives
 
CDS trading volumes in Latin America are growing fast as credit derivatives become an increasingly important investment tool. Leticia Lozano reports on the impact on the region’s capital markets.
Euromoney September 2006
Brazil
 
 
    Why Brazil is all abuzz
 
Its capital markets are a hive of activity – with record levels of IPO activity, decreasing funding costs and a first hostile takeover attempt. But many of the most active companies say that the queen bee of government is too strict: tax and infrastructure problems are preventing the country from reaching full potential. Lawrence White went to São Paulo and Rio de Janeiro to investigate.
Euromoney September 2006
    Gol’s high-flying borrower
 
Richard Lark, CFO of low-cost airline Gol Linhas Aéreas Inteligentes, exemplifies the increasing sophistication that ex-bankers are bringing to Brazilian corporate finance. He is a qualified pilot, was formerly a vice-president at Morgan Stanley and is a borrower whose company’s stock value has doubled since its IPO. Lawrence White spoke to him in São Paulo.
Euromoney September 2006


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