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September 2007

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LATEST ARTICLES

  • The 2007 guide to Portugal: download PDF
  • Are you fully up to date with developments on Europe's exchange traded fund market? With experts predicting rapid growth in the next few years and demand for the product from both institutional and retail investors intensifying, it is essential for industry professionals to keep ahead of the game.
  • Published in conjunction with: Global Investment House • SAMBA Financial Group
  • Latin America is on the move, undergoing an investment and financing boom unprecedented in its history. Latin American companies are acquiring globally, expanding regionally, and investing heavily in productive capacity, and R&D. Infrastructure projects are proliferating throughout the region. These developments reflect the region’s positive economic backdrop and corporate confidence in the economic policies and political stability that have come to characterize most of the region for the past few years.
  • Published in conjunction with: ABN AMRO Private Banking • Banco Urquijo • Bank Delen • Bank Gutmann • Citi Global Wealth Management International • Eurobank EFG Private Banking • Marfi n Popular Bank • Sal Oppenheim • SG Private Banking • Yapi Kredi Private Banking
  • Do you know your Apportionment from your Binary Options? Your Collateralized Obligations from your Gross Redemption Yields? If not, you needn’t look any further as this exclusive downloadable guide brought to you by Euromoney has over 30 pages of terminology from the financial industry explained.

    A degree of blurring and overlapping in the terminology of the banking, insurance and investment management industries has been inevitable. This guide aims to demystify many of those terms, bringing some of the more frequently used technical expressions in all three disciplines into a concise, single volume. We hope it will serve as a useful guide for market participants in all three areas of the financial services sector.
  • Bank of London and the Middle East (BMLE) has advanced its bid to provide a bridge between southeast Asian and Middle Eastern Islamic finance. The bank, which became London’s second independent wholesale Islamic bank when it opened at the beginning of July, announced at the beginning of August that it had appointed a head of structured finance, Derek Weist. Weist comes to BMLE from ABC International Bank, where he was European head of Islamic banking and head of Islamic asset management. BMLE’s CEO, Humphrey Percy, says he hopes to expand their team from 35 to around 65 people over the next two years.
  • The governor of Sama has led the Saudi economy through a turbulent but ultimately prosperous period during an unprecedented term of almost 25 years.
  • In the week of August 13 participants in the financial markets – credit traders, equity investors, heads of repo desks, hedge fund managers, risk controllers, originators and capital markets bankers, credit strategists, treasurers, chief financial officers – began to lose faith in the financial system itself. But why? What happened in this momentous week and how did it affect the financial global markets? Peter Lee was pounding the sidewalks of New York, sharing the bemusement of Wall Street.
  • Against the background of falling oil revenues and an ambitious five-year plan, Syria is taking its first steps towards a more liberal economy. Mohammed Al-Hussein, minister of finance, spoke to Euromoney about overhauling public expenditure, issuing treasury bills and bank ownership.
  • With successful IPOs completed and the domestic economy humming, China’s banks have never been in better shape to venture overseas, and there are compelling reasons to do so. Chris Leahy reports.
  • "Our aim is to provide long-term capital growth from an investment portfolio consisting of Iraqi and Iraqi-dependent securities." So reads the opening line of a monthly report for the Babylon Fund, a long-only mutual fund run by Godvig Capital Management, which is domiciled in the British Virgin Islands.
  • In a further sign of the burgeoning geographic ambitions of companies from Kazakhstan, oil and gas firm KazMunaiGas (KMG) has bought a 75% stake in Romania’s Rompetrol Group.
  • Repricing in the leveraged loan market means that some CLO managers have been having a field day.
  • Al Gore, the former vice-president of the US, is the most high-profile figure in the fight to force action to combat global warming. He explains why a new approach to investment is needed, adopts an unusual position in the carbon tax versus cap-and-trade debate, and says banks are generally ahead of the game – but still have a lot more to do.
  • Bankers with emerging markets backgrounds are taking most of the senior positions in their firms.
  • Germany’s banking system is in dire straits, and the answer could be a radical one.
  • A broken watch shows the correct time twice a day. I have been a high priestess of gloom for at least a year and finally I can straighten my spine and look you in the eye. There were others who felt uneasy. Many senior bankers told me that the risks being taken were unsustainable. However, it was the investment banker, Paul, who put it most pungently.
  • "Actually, now’s not a good time"
  • Have policymakers sent the wrong signal to financial markets?
  • 40,100,000,000 13 191
  • Korea’s new found openness to foreigners, as it strives to become a regional financial centre, is about to face its first test.
  • Baring Asset Management says the fallout from the sub-prime worries in the US is creating buying opportunities in emerging Europe, which investors would do well to take advantage of.
  • Fixed-income funds hit hard by CDOs/sub-prime troubles.
  • In any economic downturn, banks are nearly always the first businesses to suffer, which is why the recent spike in credit growth among Korea’s banks looks alarming.
  • With various trading platforms reporting record volumes, it would be easy to think that foreign exchange had emerged from the wider market turmoil in the rudest of health. But some market participants fear that serious fault lines have been discovered in derivatives.
  • Lehman Brothers is the latest bank to tap into the growing demand for FX indices (see the weeklyFiX, August 24: "Now is the time for investable FX indices"). Its FX indices (LBFX) track the performance of a long position in G10 currencies against the US dollar. Total returns are calculated daily and incorporate spot and carry return components.
  • Jerome Cohen has joined Standard Chartered after a 13-year stretch at ABN Amro. In his new role, Cohen will look after Standard Chartered’s complex FX risk team based in Singapore. He will report directly to Richard Leighton, the bank’s global head of FX.
  • Mortgage securitization by Brazilian banks has huge potential as the mortgage market is still worth only 2.2% of GDP.