Time for a reality check

Revision of Greece's public finance accounts has underlined the need for a big effort to reduce budget deficits.

Small is bountiful

In 2004 equity deals for smaller companies were much more lucrative for investment banks than large block trades, which were often disasters from a profit point of view.

Russian roulette

In a bold but reckless ploy, for much of last year Russia's president Vladimir Putin sought to curb the appreciation of the rouble against the dollar by intervening in the market.

Boosted by growth in central Europe

Austria's economy is in better shape than those of most of the states to its west and its companies already have a solid presence in the new EU states in central and eastern Europe.

REITs hit the streets

Recent IPOs show that that property investment vehicles known as REITs, popular in western markets, might be gaining a foothold in Asia.

A gateway to the Balkans

As a possible base for eurozone companies eager to expand in the Balkans, Croatia is a favoured candidate, despite its small domestic market.

Alternative fund managers converge

The advantages of sharing specialist industry sector information drawn from private companies, plus a desire to provide complementary asset allocation vehicles to end investors, are drawing private-equity firms and hedge funds into alliances.

Small stock markets top five-year returns

Halfway through the first decade of the new millennium, the five-year track records of world stock markets show the leading indices in Europe and America still way down on their highs before the tech bubble burst.