Asia

Best managed companies in Asia 2012: China Telecom improves

January 2012

Best managed companies in Asia 2012: Results index

January 2012

Can a capricious economy save China from a hard landing?

January 2012

The debate on whether China is due for a hard landing returned to the fore as property prices fell for a fourth consecutive month. And although analysts remain polarized in their views, some believe the country’s unconventional economic policy will prevent its economy going into free fall.

Cutting red tape 'essential' to attract new investors to India

January 2012

Allowing QFIs to invest directly into Indian equity markets is a long-term positive step for the country, but removing complicated bureaucratic measures will be central to draw foreign investors into its markets

Exclusive: IMF’s Singh warns of collateral drought threat to global liquidity

December 2011

IMF senior economist Manmohan Singh says the shadow-banking system is a necessary part of the monetary universe, and therefore something that regulators and policymakers must thoroughly understand if they are to have any success in improving economic performance.

The banking model is broken and needs to change now

January 2012

Euromoney takes a look at how banks need to fundamentally change the way they do business

Dwindling M&A to be boosted by restructuring

January 2012

While transformational big-bank mergers remain on hold, Euromoney learns that lots of small deals for FIG bankers will boost M&A activity

Asia: Capital outflow resilience

January 2012

So long as Asian markets remain risk-on bets to global portfolio managers, capital will continue to flee when things get bad elsewhere.

China plays catch-up with the developed world

January 2012

The country’s economic strengths are well documented, yet its position in Euromoney’s Country Risk rankings is surprisingly low, held back by weak bank scores and political risk.

Davos special: Looking for bright spots in the global economy

January 2012

Historians will judge 2011 as a year of crisis. Will 2012 be worse, more of the same, or an unexpected pick-up in the world’s economic fortunes? As politicians, business leaders and bankers gather in Davos for the World Economic Forum, we assess the risk factors in an increasingly fragile global economy and market.

The investment banks of the future

January 2012

The era of global investment banking is coming to an end. But financial trade involving and between developing markets will continue to grow. This gives a once-in-a-lifetime opportunity to firms based in those markets to build not just leading domestic franchises but also ones that can compete on a much broader scale. Which emerging market investment banks are best placed to take it?

CIMB looks beyond local excellence

January 2012

Malaysia’s best investment bank has its sights set across southeast Asia.

Citic stretches its ambitions beyond China

January 2012

CLSA stake and landmark deals show China could have an international investment banking champion.

DBS trades on Asia flavour

January 2012

Like its home country, DBS wants to be an international hub for financial trading across Asia.

Fubon steals a march on Greater China

January 2012

Taiwan’s leading financial services firm stands to benefit from its first-mover advantage across the Strait.

Religare: delusional dreamers or achievable ambitions?

January 2012

India’s Religare wants to be a global emerging markets powerhouse. It remains a long way from that goal.

Australia: Finger-pointing follows covered bond falls

January 2012

Australian banks ‘miss broader point’; Some blame issuers, others bookrunners

China: Investors lose appetite for dim sum

January 2012

CNH volatility as currency expectations fade; China hits back with CNH-boosting policies

Equity issuance: China lets more aboard the Hong Kong Ark

January 2012

Issuance selection for 2012 starts to line up; Global names look to HK for Chinese capital

Foreign exchange: Renminbi internationalization to continue in 2012

January 2012

Depreciation eases concern over speculation; Internationalization might pressure euro

ICBC International: The epitome of cool

January 2012

Mary MacLeod jumped companies and cultures to join ICBC International as deputy CEO – and became the most powerful foreign banker in China, with an eye on global dominance. The pressure is on, but MacLeod isn’t showing it... yet.

More Asia stories


Central and Eastern Europe

Russia debate: Crisis presents opportunity for Russia

January 2012

Russia’s capital markets remain upbeat, despite negative forecasts from the IMF. Amid the eurozone crisis, market players see an opportunity for the country to prove itself as a developed and reliable financial centre. Bankers, investors and issuers discuss what needs to happen next.

Capital markets: The Russian winter will endure

January 2012

Russia’s capital markets face a difficult future. Even if the will for change is there, it will be a long and difficult process.

The investment banks of the future

January 2012

The era of global investment banking is coming to an end. But financial trade involving and between developing markets will continue to grow. This gives a once-in-a-lifetime opportunity to firms based in those markets to build not just leading domestic franchises but also ones that can compete on a much broader scale. Which emerging market investment banks are best placed to take it?

Regionalization goes both ways for Is Investment

January 2012

From a dominant domestic position, Turkey’s top investment bank is also acting as a conduit for foreign investment in the country.

RenCap uses diversity to combat adversities

January 2012

As Renaissance Capital moves away from its Russian roots, is the firm now stretched too far or not stretched far enough?

VCP builds a business on its USP

January 2012

Vienna Capital Partners believes that its unique selling point as a local, independent adviser across CEE gives it the upper hand in the face of international competitors.

Table-topping VTB moves to a new phase

January 2012

VTB Capital has built a powerhouse capital markets business in Russia. Can it become just as influential elsewhere?

Stars of the future: Jeremy Sparrow, Renaissance Capital

January 2012

Stars of the future: David Walker, Sberbank

January 2012

Turkey: Going forward costs brokers and exchanges dear

January 2012

TurkDex introduces exchange-traded options; ISE head steps down

Sberbank throws its weight into investment banking

January 2012

In the words of a recent recruit – it’s the biggest bank you’ve never heard of. If you’re an investment banker in Russia, or even Turkey and Poland, that’s about to change. But can Sberbank, propelled by its acquisition of Troika Dialog, get anywhere close to fulfilling its potential?

Banking: VTB Capital revs up for international drive

January 2012

Hires Dubai Credit Suisse team; CEE special situations push

Baltic states: In Snoras, an omen for the year ahead

January 2012

Bank collapse weighs on fiscal health; Crisis spills over to Latvia

More Central and Eastern Europe stories


Latin America

Brazil guide: The year of the Brazilian stranglehold?

January 2012

Times are tough for international investment banks attracted by the dynamic Brazilian market. The big local players have a tight grip on the business that they don’t intend to yield and may even soon be challenging the foreigners in other Latin American markets.

Argentina: Currency restrictions pose a threat to control

January 2012

Controls boosting black market and run on banks; Venezuela-style parallel currency feared

Brazil’s equities market suffers an identity crisis

January 2012

Rest of region outpaces traditional leader; Poor IPO performance blamed

Debt capital markets: Strong DCM start lifts hopes but doubts linger

January 2012

The investment banks of the future

January 2012

The era of global investment banking is coming to an end. But financial trade involving and between developing markets will continue to grow. This gives a once-in-a-lifetime opportunity to firms based in those markets to build not just leading domestic franchises but also ones that can compete on a much broader scale. Which emerging market investment banks are best placed to take it?

Brazil guide: Brazil’s credit rating strengthening while the world weakens

January 2012

Brazil’s credit is strengthening, not just in relative terms as the US and European countries suffer downgrades, but in absolute terms: all three major rating agencies have increased the Republic of Brazil’s credit rating this year, the first of Dilma Rousseff’s administration.

Brazil guide: Corporate finance roundtable

January 2012

The global financial crisis in Europe and the US is not just being transmitted to emerging market companies through shifting demand from the developed world. Changing availability, liquidity and pricing of debt is having an impact on corporate finance options for companies in the emerging markets. Four senior corporate financiers at leading Brazilian companies discuss the practical impact of the current financial volatility.

Brazil’s banks make their own bulge bracket

January 2012

Brazil is one of the largest and fastest growing emerging markets for investment banking. And the locals are coming out on top. The lesson for other emerging markets, they say, is to neutralize international banks’ claims over distribution to institutional investors.

Brazil guide: Equities – A hint of things to come?

January 2012

What had looked like a promising year for Brazilian share issues failed to live up to expectations.

Stars of the future: Fábio Nazari, BTG Pactual

January 2012

Brazil guide: Local firms change the balance of M&A

January 2012

M&A activity is changing character, with the number of cross-border deals falling as Brazilian companies consolidate.

Stars of the future: Alessandro Farkuh, Bradesco BBI

January 2012

Brazil guide: Bradesco – A decade of performance

January 2012

Brazil has withstood the headwinds of the global economy. Bradesco’s solid strategic positioning will ensure it continues to benefit from the country’s increasing global strength.

Brazil guide: Growth remains the target

January 2012

Brazil’s economy is facing new challenges, having come through the 2008 financial crisis virtually unscathed. The government’s apparent determination to push for continued growth is reviving fears of a rise in inflation.

Brazil guide: Project finance and the infrastructure challenge

January 2012

Brazil needs huge sums to develop its infrastructure but long-term project finance is becoming harder to find as European banks pull back and the dominant role of development bank BNDES discourages local players.

GLOBAL OUTLOOK 2012

December 2011

Analysts from leading independent research group Ned Davis Research look at the prospects for financial markets and the global economy in 2012 and beyond, and shine a light on the distressed US fiscal situation which has been overlooked during the eurozone crisis

More Latin America stories


Middle East and Africa

Saudi Arabia: Reformers take the reins

January 2012

New government appointments in Saudi Arabia have sparked hopes that the Kingdom might adopt policies more oriented towards the private sector and foreign investment.

Banking: VTB Capital revs up for international drive

January 2012

Hires Dubai Credit Suisse team; CEE special situations push

Private banking heads still eye US, UK and other developed markets for growth

February 2012

Despite emerging markets being heralded as the beacon for growth, CEOs and global heads of private banking at the world’s largest firms tell Euromoney they are still expanding and seeking growth in the US and other developed markets

Africa’s new frontiers

January 2012

Country risk scores for Nigeria, Ghana, Gabon and Tanzania rose last year, with higher average-economic-outlook scores across the continent and a willingness in the international capital markets to finance African borrowers.

Bermuda looks to pioneer Western Shariah-compliant hub

January 2012

The favourable tax haven is actively seeking to become the first Western centre to provide a Shariah-compliant platform by reviewing its existing legislation

FBN Capital: ambition tempered by caution

January 2012

Nigerian investment bank FBN Capital has high ambitions for international as well as domestic expansion.

Jadwa finds opportunities in tough times

January 2012

Saudi base gives Islamic specialist a platform for regional expansion.

Narrow focus pays off for GulfMerger

January 2012

Kuwait-based firm has big ambitions in the Gulf’s growing middle market.

NBK Capital out to follow in parent’s footsteps

January 2012

National Bank of Kuwait’s universal banking ambitions are closely tied to the growth of its investment banking and markets unit.

Standard Bank redefines a focus on Africa

January 2012

Standard Bank has reduced its global presence and seems set on concentrating on tapping investment flows into infrastructure-hungry Africa.

Davos special: Looking for bright spots in the global economy

January 2012

Historians will judge 2011 as a year of crisis. Will 2012 be worse, more of the same, or an unexpected pick-up in the world’s economic fortunes? As politicians, business leaders and bankers gather in Davos for the World Economic Forum, we assess the risk factors in an increasingly fragile global economy and market.

The investment banks of the future

January 2012

The era of global investment banking is coming to an end. But financial trade involving and between developing markets will continue to grow. This gives a once-in-a-lifetime opportunity to firms based in those markets to build not just leading domestic franchises but also ones that can compete on a much broader scale. Which emerging market investment banks are best placed to take it?

Star of the future: Sarah al Suhaimi, Jadwa

January 2012

More Middle East and Africa stories


Euromoney Country Risk

Country risk scores for European sovereigns decline in Q4 2011

January 2012

Country risk scores deteriorate across the eurozone

African political risk: Expect the unexpected in 2012

January 2012

The outlook for political risk in Africa this year remains elevated, despite the recent trend towards fair and free elections on the continent.

Country risk: Is the UK riskier than France?

January 2012

Two economists give their view on whether the UK is more deserving of a downgrade than France, as part of a special snapshot from Euromoney Country Risk.

How important is North Korea’s leadership change?

January 2012

In December, North Korean officials announced the passing of Supreme Leader Kim Jong-il, supposedly from a heart attack. Not too surprisingly, Pyongyang swiftly heralded Kim’s youngest son Kim Jong-un as the new head of state along with the title “Great Successor”…

North Korea’s country risk score falls after leader’s death

December 2011

Experts lower one-party state’s country risk score after sudden death of Kim Jong-il

Country risk experts consider UK riskier than eurozone AAA sovereigns

December 2011

Economists score the UK lower for country risk than France, Germany, Austria, Luxembourg, the Netherlands and Finland

Country Risk: Eurozone’s triple-A woes continue

December 2011

Decision by S&P to put Europe’s sovereigns on negative outlook backed up by steady decline in country risk scores.

Country Risk: Eurozone crisis weighs heavily on CEE risk

November 2011

Poland, Hungary, Russia and Bulgaria receive worsening scores for economic risk

Euromoney Country Risk: Namibian sovereign risk improving

November 2011

Debut Eurobond coincides with uptick in country risk score

Five reasons why Namibia’s 10-year Eurobond could strengthen:

November 2011

More Euromoney Country Risk stories