Central & Eastern Europe
| Erste insists the CEE party is not over | ||
| While some analysts worry about the Austrian bank’s effect on prices in central and eastern Europe, others have a great deal of confidence in CEO Andreas Treichl and his X factor. Julian Evans reports. Euromoney May 2006 |
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| EEMEA round up: CEE index | ||
| Austrian bank CA IB has launched REX, the first publicly available real estate index to cover emerging Europe and the closely related Austrian market. Euromoney May 2006 |
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| EEMEA round up: Azerbaijan | ||
| Azerbaijan Electronics, one of the country’s largest energy utilities, has sold a $1 million one-year bond, the first from an industrial issuer in the country. The bond yields 14.5% and was issued at par. Euromoney May 2006 |
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| Bank reorganization: UniCredit/HVB defines its model |
| The future for UniCredit and HVB’s merged operations in central and eastern Europe has been determined, with HVB’s subsidiary, Bank Austria Creditanstalt, set to become the sub-holding company for CEE operations within the UniCredit group. |
| Euromoney April 2006 |
| Credit ratings: Emerging in the emerging markets |
| An intimate knowledge of the market, a good track record and a favourable cost basis – what more could a credit rating agency ask for? |
| Euromoney April 2006 |
| CEE Company ranking 2006: Home-grown state success stories | ||
| The rush of foreign investment into central and eastern Europe has undoubtedly improved standards of corporate governance. But the results of this year’s Euromoney survey of the best companies in the region reveal that some state-owned companies that might prove difficult to acquire also rate highly for their management standards. Lawrence White reports. Euromoney May 2006 |
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Turkey
| Turkey’s banks put M&A centre stage | ||
| The enormous growth potential of the Turkish banking sector is attracting a lot of attention but the mortgage business, one of the industry’s biggest attractions, is suffering from profit shortfalls because of a lack of well-matched funding opportunities. Covered bond issuance and the imminent reawakening of the Turkish lira corporate bond market could provide a much-needed boost. Peter Koh reports. Euromoney May 2006 |
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| Turkey: Turkey’s central bank back on course | ||
| Euromoney May 2006 | ||
Russia
| Russia wrestles with transparency requirements | ||
| Russian companies are not renowned for adherence to international standards in corporate governance but several from the Russian Federation are looking to list their stock domestically and abroad. How are these companies dealing with the standards demanded by international investors? Kathryn Wells reports. Euromoney May 2006 |
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| Red Star bets on tougher times ahead | ||
| The managers of a new equity fund say the big re-rating of Russia is over. It is time for a new type of fund that can prosper in a downturn, they argue. Julian Evans reports. Euromoney May 2006 |
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| Russia: It’s now, or 2008, for Svyazinvest | ||
| The long-awaited privatization of Svyazinvest, Russia’s national fixed-line telecoms operator, could finally get under way within the next two months. Euromoney May 2006 |
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| Q&A: Browder stands defiant | ||
| Q&A with Bill Browder, founder and CEO of Hermitage Capital Management, the biggest foreign investor in Russia. Euromoney May 2006 |
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| Russia: Rosneft muddies the Yukos bankruptcy waters |
| Investors were given a faint hope that Yukos might yet escape bankruptcy proceedings last month when Russian oil company Rosneft agreed to acquire $482 million of outstanding debt that Yukos owed to a consortium of international lenders. |
| Euromoney April 2006 |
Romania
| Romanian banking: What a difference three years make | ||
| Three years ago, the Romanian government had to admit defeat in its plans to privatize Banca Comerciala Romana, the country’s largest bank. By last autumn, though, when bidding was reopened, nine banks submitted bids and the bank was eventually sold at 5.8 times book value – a record at that time in central Europe. So what changed? Kathryn Wells finds out from the government’s advisers. Euromoney May 2006 |
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Croatia
| Croats seek funds close to home | ||
| With EU accession for Croatia still a few years away, the country’s financial authorities are focusing their attention on developing the local bond market. Oonagh Leighton reports. Euromoney May 2006 |
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Serbia
| Serbian banks battle for market share | ||
| Foreign and local banks are preparing for intense competition to win market share in one of Europe’s fastest-growing financial sectors. Those not already in the field are likely to find this an expensive business. Nick Saywell reports. Euromoney May 2006 |
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| Serbian banking thrives on return of confidence | ||
| Radoslav Jelasic, governor of the National Bank of Serbia, tells Nick Saywell about the challenges facing his country’s banking industry as levels of foreign ownership rise. The main issues now are transparency and supervision rather than solvency and liquidity. Euromoney May 2006 |
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Kazakhstan
| Kazakhstan sets its sights on regional role | ||
| The Kazakh authorities would like to establish Almaty as a regional financial centre but further reform and market development is necessary first. Patrick Gill reports. Euromoney May 2006 |
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| Project finance takes shape in Kazakhstan | ||
| The central Asian republic may still be developing suitable funding channels, but a pick-up in deals is expected, given an economy that continues to grow and an appropriate legal framework. Patrick Gill reports. Euromoney May 2006 |
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Central Asian
| Have fund, will travel: On the trail of investment opportunities in the Wild East |
| Only the most intrepid of hedge fund managers, and Euromoney’s emerging Europe correspondent, would go on the road in the Wild East of central Asia looking for investment opportunities. Forget about dictators, poverty and corruption – what about a punt on Kant Cement of Kyrgyzstan? Bids and offers in no-man’s-land "It becomes clear that, despite the border guards’ protestations, visas are obtainable at the crossing – for a price." |
| Euromoney May 2006 |