April 2009
| Euromoney April 2009 Billions of dollars of foreign investment flooded into fast-growing manufacturers and real estate developers at the height of the China boom. Now, as the economy slows, many badly judged, rushed deals are unravelling, with investors unlikely to recoup more than a tiny proportion of their funds. Elliot Wilson reports.
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Euromoney April 2009
The demise of AIG has inflicted an identity crisis on the insurance industry. But insurers face exposure to distressed assets, accounting and valuation issues and a potential shortage of capital. Sounds familiar? Helen Avery reports on how insurers believe they will avoid the same fate as the banks.
Euromoney April 2009
AIU, the rebranded general and commercial insurance division of AIG, tops every global category in Euromoney’s insurance poll. Holding on to customers and staff in the wake of AIG’s collapse into the arms of the US taxpayer has been a tough challenge. AIU chief executive Nicholas Walsh explains to Peter Lee the latest plans to create a separate identity for the division and an eventual IPO.
Euromoney April 2009
Axa’s Gerald Harlin tells Helen Avery about the benefits of balance.
Euromoney April 2009
Zurich reported net income of $3 billion for 2008. More impressive was its return of 1% on its investments. Helen Avery spoke to Martin Senn, CIO.
Euromoney April 2009
Fixed-income markets stand at a crossroads. The traditional model is broken. A new breed of debt advisory and trading boutiques believe they hold the key to the future. Some of the biggest names in the bond market are jumping on the bandwagon. Alex Chambers examines whether this is the day of the independents.
Euromoney April 2009
Governments on both sides of the Atlantic have announced ambitious infrastructure spending commitments. But they will have to negotiate a much-changed bank lending market to realize their plans. Louise Bowman reports.
Euromoney April 2009
China’s banks are lending a hand to support the government’s efforts to stimulate the economy. But do they risk losing an arm and a leg if the economy fails to grow as expected? Sudip Roy reports from Beijing.
Euromoney April 2009
Chinese banks need to grow new income sources from fee-based services such as private banking, cash management, trade finance and investment banking. But they must balance a need to grab market share with their desire to avoid creating another banking bubble. Lawrence White reports from Beijing and Shanghai.
Euromoney April 2009
China Life is the world’s biggest life assurer and China’s largest institutional investor. Its president talks to Sudip Roy about the challenges the company faces.
Euromoney April 2009
The exploitation of natural gas resources looks set to transform Papua New Guinea’s wealth profile and social structure. The downside is the possibility that its undeveloped infrastructure and institutions will be unable to cope with rapid change. Chris Wright reports.
Euromoney April 2009
As the Philippines faces the Legacy scandal, president Gloria Macapagal-Arroyo is trying to reassure the world that her country is better placed to withstand the global crisis, after the lessons of 1997. She talks to Lawrence White about Asian regional cooperation, trying to beat corruption and why she’s letting Legacy fail.
Euromoney April 2009
The country restructured its financial system after the Asian crisis, and so it might have lessons to offer the world. But its recent self-inflicted economic woes are urgent and less worthy of emulation. Eric Ellis reports from Bangkok.
Euromoney April 2009
With the business models of many of the largest financial firms destroyed by rapid deleveraging, it suddenly looks smart to be a purveyor of independent advice. The biggest, Lazard, finds corporations, governments and other banks desperate for help in repairing their balance sheets. Peter Lee reports.
Euromoney April 2009
Last month executives of the world’s largest banks, alarmed at collapsing share prices, told everyone what a profitable start to 2009 they had enjoyed. By the end of the month, shares were rallying. Let’s hope that actual first-quarter 2009 earnings announcements don’t pour cold water on their hopes. Peter Lee reports.
Euromoney April 2009
In a period of financial crisis corporates are particularly concerned about avoiding risk, but are also keen to get their cash working at a time when credit is hard to raise. Competition between top providers is fierce, while there are new opportunities for the second tier. Laurence Neville reports.
Euromoney April 2009
Custodians have become one of the few safe havens of the financial markets. If they can manage securities lending without putting assets at risk, their power and influence among clients is set to grow. Helen Avery reports.
Euromoney April 2009
Senior and junior noteholders are at war, navigating a complex legal web to extract some value from Europe’s unravelling CMBS market. Louise Bowman explains the limited options available to the servicers stuck in the middle.
Euromoney April 2009
A select group of emerging market equity fund managers is aiming to do something different – outperform developed markets in a prolonged global downturn. Staying clear of the crowd will be crucial to success. Chloe Hayward profiles seven leading investors and asks where they will make money in 2009.
Euromoney April 2009
Lehman Brothers and the failed Icelandic banks leave their mark.
Euromoney April 2009
Banks create core tier 1 capital via buyback operations.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Radical shift in Swiss National Bank’s monetary policy sparked talk that other central banks would join it in competitive devaluation race.
Euromoney April 2009
Euromoney April 2009
The euro benefits from being the anti-dollar.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
At this month’s G20 summit, international regulation of financial services firms is certain to be the dominant debate. However, there are growing doubts that more rules will benefit the hedge fund industry.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Those that avoided Madoff madness surely offer a wiser approach to investment than some investors’ rash direct investments. Neil Wilson reports.
Euromoney April 2009
Despite negative returns in 2008, hedge funds should bottom out this year and look attractive to many investors compared with other asset classes. Neil Wilson reports on the latest data.
Euromoney April 2009
Maturity of bond market will be tested as issuance builds.
Euromoney April 2009
Euromoney April 2009
In an exclusive interview with Euromoney Zhu Min, group executive vice president at Bank of China, talks about lessons learned from the financial crisis, the limitations of Basle II, and reforming the bank’s risk management.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Mexico’s transport and communications ministry, the SCT, is expecting soon to relaunch its second federal highway re-concessions programme, Paquete del Pacífico, known as Farac II.
Euromoney April 2009
Good timing means telecoms transaction greeted with enthusiasm.
Euromoney April 2009
Euromoney April 2009
The Venezuelan government has started to delay payments to contractors and oil service companies, indicating that the collapse in oil prices is finally taking its toll on president Hugo Chávez’s wallet.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Mansour Al Maiman, secretary general of Saudi Arabia’s Public Investment Fund, tells Dominic O’Neill how his institution is adapting to the changing needs of his country.
Euromoney April 2009
Euromoney April 2009
The marketing campaign for the first-ever initial public offering from Armenia has been launched despite the fact that the country recently had to abandon attempts to support its currency, the dram, which depreciated by 25% in March.
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Euromoney April 2009
Some of the smartest people in investment banking are seizing a unique opportunity to set up boutiques.
Euromoney April 2009
If China’s capital markets are to mobilize funds a simpler, more coordinated regulatory system is imperative.
Euromoney April 2009
New UBS chairman and chief executive show the pressure the country’s banking system is under.
Euromoney April 2009
With the authorities throwing everything but the kitchen sink at the markets, they need to make sure that the left hand knows what the right hand is doing.
Euromoney April 2009
Diversified payment rights issuance offers an alternative to dollar funding.
Euromoney April 2009
A code of conduct for credit rating agencies does nothing to deal with their inherent conflicts of interest.
Euromoney April 2009
Saudi debt markets are set for a resilient year, with the promise of more to come.
Euromoney April 2009
Euromoney April 2009
People wanted to believe ponzmeister Madoff because they crave stable, compounding returns. After his spectacular fall from grace, calls to shine a light on the opaque world of hedge funds will be irresistible.
Euromoney April 2009
Germany’s commitment to the EU project will guarantee bailouts for weaker eurozone members. But it’s a different story for hard-pressed central and eastern European states and their banks.
Euromoney April 2009
Have you recently found yourself trying without success to understand the causes and implications of the financial crisis? Have you longed in vain for the soothing words of a celebrity from the field of popular entertainment to explain to you in layman’s terms what is happening in the world of finance and what it means for you?
Euromoney April 2009
Euromoney April 2009
How do you explain the credit crunch to those outside financial circles? One banker recently told Euromoney that investment banks used to be dating agencies for capital markets:
Euromoney April 2009
Much criticism has been hurled at Tim Geithner during his brief tenure as US Treasury secretary, but no one can say that he is not doing his bit to counterbalance job losses on Wall Street.
Euromoney April 2009
Euromoney April 2009
