March 2003
| Euromoney March 2003 A unified European securities trading infrastructure finally appears to be within reach. But will the market appreciate it when it gets what it's always asked for? After all, inefficiencies present opportunities to make money. If cross-border trading gets cheaper the benefit should be passed back to the end investor. Yet banks and fund managers, under pressure to slash costs, might not be ready to hand it over. |
Euromoney March 2003
Oil prices have helped cushion the effects of slack global growth for many energy exporters. Asian and European growth is accelerating but there are wide regional variations and the World Bank warns that the world economy may well slide into recession.
Euromoney March 2003
With so many corporates under pressure to raise cash, and understandably loath to sell off holdings at depressed prices in a weak market, the hunt for higher valuations is driving a wave of complex structured equity deals.
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Financial markets seem to be assuming a short, sharp US assault on Iraq with finite post-war costs. But there's well-documented evidence that Iraq is only the first step in a strategy of total war that could undermine both the US and global economy.
Euromoney March 2003
John R Taylor Jr is the CEO and founder of FXConcepts, a global investment management and research firm specializing in currency risk (mail@fx-concepts.com).
Uncontrollable major disruptions in financial markets are a distant memory. That's about to change.
Euromoney March 2003
By 2005 Germany's Landesbanken will lose their state support. Then, say the private commercial banks, the country's banking system will benefit from a level playing field. But none of the banks will be able to turn a profit if they don't make radical changes.
Euromoney March 2003
Euromoney March 2003
A series of problems for other retailers seemed set to spoil the show for Metro when it issued in January. In the event it attracted e11.1 billion of support from euro investors. Then came Ahold.
Euromoney March 2003
Privatization looked to be the answer to Portugal's widening budget deficit but poor market conditions have stymied it. The government, though, has cut costs and boosted revenues, with favourable capital market effects.
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Argentina is coming out of crisis, but few investors have noticed. Those that have can do little to profit from their knowledge. But there's a long way to go and the aspirations of the 1990s are unlikely to be fulfilled.
Euromoney March 2003
Euromoney March 2003
Roberto Lavagna is that rarest of breeds in Argentina: a popular politician. As finance minister he has put the economy on a steady growth course as elections approach.
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
With much of south America in economic turmoil, central America has become a safe haven for high-yield bond investors. But oversupply and renewed instability might soon undermine the region's attractiveness.
Euromoney March 2003
President Arroyo took office in the Philippines with ambitious plans to increase revenues, curb corruption and cut the state deficit. But after two years in office little has been achieved on these fronts. Now pessimistic country analysts are making worrying comparisons between Asia's busiest sovereign borrower and Argentina.
Euromoney March 2003
Euromoney March 2003
Impending full liberalization of Malaysia's banking system is encouraging local players to grow their investment banking business, with RHB Sakura and CIMB taking the lead.
Euromoney March 2003
The Indonesian banks that best coped with the 1997 crisis were focused on retail and small business customers. Now those banks that are restructuring are intent on the same sector.
Euromoney March 2003
The new euro-denominated 30-year bond market found natural buyers in insurers with long-term liabilities. But when the market broadened into a rush, things rapidly went wrong.
Euromoney March 2003
Pension fund shortfalls have come to the fore as new accounting requirements and credit rating agencies factor them in to assessments of corporate health.
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Euromoney March 2003
Portugal
Euromoney March 2003
Foreign exchange
Euromoney March 2003
Credit derivatives
Euromoney March 2003
Euromoney March 2003
Oil
Euromoney March 2003
Russia
Euromoney March 2003
Malaysia
Euromoney March 2003
India
Euromoney March 2003
In volatile equity markets, more deals than ever are being done with no documentation and little if any due diligence. Are banks taking too many risks?
Euromoney March 2003
Director of research, Hermitage Capital Management
Euromoney March 2003
CEO, Epic Investment Consulting
