New questions for Deutsche Bank and Jain
Questioning the value of advice
TCI sues competition commission; investors fear regulatory and political risk.
Access Bank has become the second bank in Nigeria to receive a rating from Moody’s, illustrating the bank’s strengths despite challenging macroeconomic conditions.
As Ghana prepares to return to the Eurobond market, bankers say the sovereign’s debt sustainability will be tested, amid weak real-money appetite for frontier economies.
Well-functioning stock market; structural surprises still likely.
The looming criminal prosecution of a derivatives trader highlights the compliance challenges facing HFT firms.
Investors ignore valuation at their peril – a period of lacklustre returns looms. The Fed’s move on interest rates is key.
RWE taps institutional funds for gas inventory; more deals in oil, metals and carbon trading.
BBVA is leading the drive for banks to change their business models.
Third-quarter gloom for gold; silver ‘a better bet’.
The first half of this year has seen explosive growth in euro issuance by non-European borrowers, especially from the US. Is this a sign of greater capacity and sophistication in the market? Or is the reverse yankee just smash-and-grab opportunism?
$15 billion raised year-to-date for tech venture capital; financial services tough to disintermediate.
Opportunity for banks same as in FX; Goldman investment ‘a positive signal’
Up to $120 billion moved in-house in three years; not relying on outside firms for alpha.
A review of EMIR reporting is under way as the industry lobbies regulators to move to single-sided reporting for OTC derivatives and remove the reporting requirement for exchange-traded derivatives. What’s more, cross-border harmonization of derivatives regulation is way off.
There’s nothing wrong with being shareholder-friendly. But when you’re a domestically oriented US company preparing to print your first euro-denominated bond, it’s questionable whether a strapline emphasising shareholder value is the most expedient to choose for an online investor-relations presentation.
Mobile money in Africa has been dominated by Safaricom’s M-Pesa in Kenya, but the banking sector will be much better equipped to lead the sector in the long term, says one investor. However, in the short-term, regulations will prove key in determining who wins market share.
The slowdown of the Chinese real-estate market is an increasing risk for the country’s banks, but government intervention might dampen the threat.
While the central bank has ruled out further currency devaluation, markets continue to price in a weaker naira and the prospect of weak foreign capital inflows.
Investors were asked to nominate their top three borrowers in each category based on issuance strategy, credit quality and investor relations.
Japan’s prime minister is trying to inject some dynamism into the country. Could inbound M&A business start to match the upturn in the outbound market?
IPO volumes surpass 2014 level by May; smaller deals struggle.
The rising star of the UK’s victorious Conservative Party now has a mandate to help business. However, in his previous incarnation as an investment banker, he was at the heart of the credit trading business, and was responsible for structuring an emerging-market synthetic CDO that incurred millions of dollars worth of losses for investors.
Activity picks up across sub-asset classes; volumes set to rise despite volatility in H2.
Liquidity on Zimbabwe’s bourse has been hit hard year-to-date, amid the domestic political funk and a lack of foreign-investor appetite for sub-Saharan Africa, more generally.
DCM issuance down by 40%; locals and internationals suffer.
More secondary listings likely; consumer, tech, export stocks in focus.
Government IPOs Deutsche Pfandbriefbank; Commerzbank sells €2.9 billion loan portfolio.
The government has allowed what should have been a simple market correction to get the better of it.
EC aims for low-hanging fruit; ABS being pushed ‘too far, too quickly’.
US banks and issuers dominate global DCM to an extent not seen since early 2008.
Euromoney explores the bond liquidity drought and investigates the winners and losers.
Foreign investors pull Rmb40.5 billion in two weeks; average P/E ratio still 66 times.
The semi-autonomous Iraqi state is set to be the latest sovereign issuer despite its geopolitical quagmire – posing an allocation dilemma for yield-hungry institutional investors.
It is not without its challenges, but the economy is improving – steadily if unspectacularly.
Brazil’s economy must absorb a lot more pain before it starts to grow again. Until then, investors will stay away, and the deals won’t come.
The Saudi Arabian Capital Markets Authority, unveiled its final rules in May, heralding the opening of the country’s stock market to foreign institutional capital in mid June. How will the market change as foreigners come in, and who benefits? And how long will it take before foreign institutions are comfortable enough with the technical side of Saudi trading to move in?
Two successful IPOs should have been good news for the country’s markets – if anyone had bothered to tell the world more about them.
To fill Africa’s substantial infrastructure gap, governments need to work with investors to produce viable and worthy projects. South Africa is illustrative.
It's not all about oil. There are plenty of other highly rated companies to invest in.
Combines pensions and investors; structural reforms in place for growth.
It may be a battered economy on the edge of Europe, but Portugal is rapidly becoming the hotspot for Chinese corporate ownership in Europe, particularly in the financial sector. Whether they like it or not, governments and regulators in Lisbon, Brussels and elsewhere will welcome them with open arms.
Stark contrast with reaction to Sino-Forest default in 2011; case highlights key man and regulatory risks in China.
Karunanayake targets ‘ostentatious expenditures’; contracts were ‘marked up ninefold’.
Demand rising, busy second half expected; Par Corretora holds key to Brazil return.
Investor interest highest for a decade; questions remain over deal flow.
The journey to financial process transformation DONG Energy
Sponsored by Nordea
Transparency in the FX industry
Looks Can Be Deceiving
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