May 2004
| Euromoney May 2004 The EIB lends more than any other multilateral but receives far less scrutiny. Many people don't know if it is a bank or an EU institution. Critics say it is unsupervised, opaque and unwilling to deal with conflicts of interest and misdirected lending. Now, stung by a critical report prepared for the European Parliament, EIB president Philippe Maystadt is having to fight hard to defend the bank. - Philippe Maystadt: Lending a hand in Euroland
Philippe Maystadt, president and chairman of the board of directors of the European Investment Bank, speaks to Euromoney's Mark Brown about the bank's lending policies, criticisms from the European Parliament and the bank's response to EU enlargement. - Lines of funding bridge PPP gap
- Risk management
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Euromoney May 2004
The new member states of the European Union offer foreign fund managers a fast growing asset pool. However, the market has already been targeted by such firms as Allianz Dresdner. Is it too late for others to make an impression? The chance to shine may come when investors look outside their home markets.
Euromoney May 2004
The completion of several high-profile corporate restructurings in Japan has convinced many investors that at long last the country is shaping up to come out of recession. Domestic value investors are driving change. Others fear that it's too little too late and that time is not on Japan's side. By 2007 public debt could be three.
Euromoney May 2004
Asian research brokerage CLSA has not found it easy to move into new markets. But after costly forays into non-Asian countries it has started to expand again. Its decision to open in Tokyo was impeccably timed and well executed.
Euromoney May 2004
Macquarie has steered a profitable course, avoiding head-on confrontation with global competition through niche strategies. So its acquisition of ING?s Asian cash equities business is puzzling. Can it succeed where ING failed or could this mark the unravelling of the Macquarie miracle? Chris Leahy reports
Euromoney May 2004
It's a wonder that the Philippines is still afloat. Rafael Buenaventura, central bank governor, has steered it clear of disaster. But with a presidential election this month, an unimpressive line-up of legislators and the governor's term coming to a close, the republic faces an uncertain passage.
Euromoney May 2004
Demand for equity-linked issues remains strong but issuance has dropped off dramatically from 2003 levels. Bankers look to slowing stock markets later in the year to revive the sell side of the market.
Euromoney May 2004
Rising volumes of primary issuance in Europe mask the fact that most companies are not selling shares to fund growth or to restructure.
Euromoney May 2004
For the first time in a generation, Saudi Arabia has posted two budget surpluses in a row. Sustained oil prices underlie this, though, and economic reform needs to be kept at the top of the kingdom's agenda.
Euromoney May 2004
Bankers are eager for the implementation of Saudi Arabia's capital markets law. But this won't happen until the regulator's chairman is appointed
Euromoney May 2004
With foreign players set to start investment banking operations in Saudi Arabia, local banks are confident that they can meet the challenge.
Euromoney May 2004
Euromoney May 2004
Pakistan's economy is growing at an unprecedented rate but foreign investors, exercised by doubts about political stability, haven't heard the good news.
Euromoney May 2004
Singapore will soon be second to Switzerland in offshore private banking, having overtaken its main Asian rival, Hong Kong. And it is attracting money from wealthy Europeans as well as from Asians.
Euromoney May 2004
Latin America's high-net-worth individuals have followed their peers in the rest of the world in demanding more sophisticated and personalized services from their private bankers.
Euromoney May 2004
As the award of the best bank in sub-Saharan Africa category to Standard Bank indicates, South Africa remains the major driving force in introducing efficient, hi-tech banking systems across the continent.
Euromoney May 2004
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Euromoney May 2004
Norilsk Nickel's Gold Fields deal is the largest single Russian cross-border merger and the second-biggest single foreign investment in South Africa. It needed a record-breaking unsecured Russian loan.
Euromoney May 2004
GlaxoSmithKline used careful timing to make the most of the dearth of jumbo dollar corporate issues so far this year.
Euromoney May 2004
A high-spending chancellor and a continuing consumer boom might not be in the long-term interests of the UK. They are, though, fundamental to foreign investment that is pushing up sterling.
Euromoney May 2004
Have French efforts to create a national champion in the pharmaceuticals industry left its companies more vulnerable to hostile takeovers?
Euromoney May 2004
Euromoney May 2004
Euromoney May 2004
By 2002 Capital One's rapid growth took it deep into sub-prime territory, stirring up a crippling rise in its borrowing costs and scaring off bond investors. Having learnt its lesson, the credit card firm has made a remarkable return to favour.
Euromoney May 2004
Corporate issuance is down in Europe but supply is being bolstered by dollar issues from European corporates. So is this a good year for the debt markets? Bankers are not sure.