Turkey emerges stronger from global crisis

Fiscal rule puts budget deficit on autopilot

Turkish banking sets an example

Unrivalled investment house

New sources of investment

New regulations in the US have created a surge in demand for seven-day instruments, and sovereign risk problems in Europe have created a pool of issuers willing to issue them. But is this really the win-win situation that it appears to be? Louise Bowman reports.

Five hundred bankers gathered in London on July 8 to celebrate their achievements at Euromoney’s Awards for excellence dinner. Host Rory Bremner kept the guests entertained, while Brady Dougan of Credit Suisse, Anshu Jain of Deutsche Bank and Vikram Pandit of Citigroup were there to pick up the most important trophies on the night.

After Dubai, funds focus on consumer demand

After Dubai, funds focus on consumer demand By sector Airlines and Aviation 2010 Entity Score 1 Air Arabia 85 2 Emirates 40

Click here to view photographs from the Asia event (PDF will open in a new window)

Firms exposed to the Gulf’s more speculative property markets are no longer attractive. Top stock picks in the Middle East revolve around the large and youthful consumer populations of Egypt and Saudi Arabia. Good corporate governance is another key to foreign investment. Dominic O’Neill reports.

The fabric of OTC interest rate derivatives trading is being torn by a combination of regulatory and market forces. Who is benefiting from the changes, and who is struggling? Total Derivatives and Euromoney polled the banks to rank the best. Mark Ramsden reports.

Although the firm remains best known for its work in Europe, Rothschild’s advisory and deal-making business in emerging markets is making rapid progress. Sudip Roy reports.

The new president has been ruffling feathers at home while making friends and influencing people abroad – boosting his country’s international standing as a result. Guy Norton reports from Zagreb.

While the flow of capital turns east, European corporate bond issuers are looking west – to the US capital markets – to fill funding gaps opened by the European sovereign debt crisis. The yankee bond market’s depth, its proven resilience and a new appreciation that funding options shouldn’t be taken for granted have made it increasingly important. Hamish Risk reports.

The respected economist and governor of the Israeli central bank spoke to Dominic O’Neill about the global financial crisis and the unique challenges his country faces. They talked on the sidelines of 2010 Israel Investor in London on July 1.

The revival in the market in late 2009 seemed a sign of capital markets returning to normal after the financial market crisis and economic downturn; well-supported new listings pointed to recovery. But even as the list of prospective IPOs grows and Agricultural Bank of China completes its record deal, the market is shutting down again. Peter Lee reports.

With the hire of China dealmaker extraordinary Henry Cai from his old shop UBS, Deutsche Bank’s Asia-Pacific chief executive Robert Rankin took another step towards making the bank as successful in investment banking as it is in the markets business. Lawrence White talks to him about what needs to be done next.

While jumbo IPOs and merger deals have hogged the headlines, the global markets have accounted for substantially the larger part of Deutsche Bank’s revenues in the region over the past decade and even the firm’s fiercest rivals are forced to concede that Boon Chye has built a formidable business. Lawrence White spoke to this year’s winner of Euromoney’s outstanding contribution to financial markets in Asia award about how he built up the business, what challenges the industry now faces and what he would have liked to have done differently.

I am involved in a spat with the sisterhood.

Finance minister Korn Chatikavanij has steered the Thai economy successfully through huge political and social upheaval. But his long-term aim is to connect with Thailand’s people, and not just its financial and business elite, to bring prosperity to the majority. Eric Ellis shadowed Korn as he travelled beyond Bangkok, examining the extent of the grassroots challenges Korn faces to effect meaningful change in a country ill-served by previous incumbents.

As high-net-worth wealth creation accelerates in the region, the struggle for market share between international and local wealth managers intensifies. Jason Mitchell reports.

Financial and legal insiders in the UK overseas territory of Gibraltar argue that it complies fully with international regulatory standards. But recent events suggest this might be wishful thinking. Eric Ellis reports.

US legislation regulating rating agencies should bring healthy competition to the market – if newcomers can meet the costs involved.

Last month, European bank regulators tried to reassure the markets that in a severe recession and collapse in European government bond markets, only seven of the 91 leading European banks they tested would face a shortfall in core tier 1 capital ratios below 6%, amounting in aggregate to just €3.5 billion.

Europe’s financial institutions must realize that the price of issuance is unlikely to improve any time soon.

Private equity firms have large amounts they need to put to work, so market discipline might be sorely tested over the next few years.

An onerous tax on banks proposed by the Hungarian government can only further damage an already weakened economy.

Improved capitalization set to be credit positive; Related-party lending still a major risk

Loan growth demands new capital sources; Opportune moment for Brazilian banks

India’s corporate bond markets are set to flourish through newly structured funds attracting foreign investors worldwide. Investment opportunities once only accessible through banks or registration as a foreign institutional investor (FII) with the Indian regulator are now open to investors abroad wanting to buy Indian debt. Kotak’s recent launch of its fixed maturity plan has raised $140 million in three weeks from investors worldwide, indicating a genuine demand in India’s corporate bond markets.

While second-tier and third-tier European banks struggle to access the international bond markets, one of Turkey’s leading lenders has shown the way ahead with a landmark deal.

Currency debasement and inflation have ultimately been bad news for men of modest means. Lincoln Rathnam learns lessons from the history of Emperor Diocletian on why our present penchant for McMansions might point to an Appalachian future.

Tough times lie ahead for the financially challenged parts of the eurozone. But the rapid rebound in other eurozone countries will sustain Europe’s Economic and Monetary Union, as will Germany’s determination to export fiscal rectitude.