Unlocking southeastern Europe’s lost billions
Billions of euros’ worth of shares could be lying unclaimed in dormant accounts in Romania and the Balkans, according to the European Bank for Reconstruction and Development (EBRD). The shares are a legacy of mass privatizations undertaken by post-communist governments...
How the banking union fell into an Italian abyss
European bank CEOs at the Institute of International Finance’s (IIF) meetings in Brussels last week expressed lofty ideas about how financial integration can fill the power gap with US capitalism. It is wishful thinking. The near formation of a government...
Kazakhstan extremely risky despite oil-price recovery
Kashagan oilfield: a new dawn thanks to rising oil prices, but what’s on the horizon as the risk score falls? Kazakhstan’s economy stepped up a gear in 2017, growing by 4% in real terms after two years expanding by little...
Treasurers adapt ahead of European money market reforms
By January 21, existing and new European money market funds (MMF) will have to fall in line with reforms that will see constant net asset value (CNAV) restricted to government portfolios only. Investors seeking higher returns from funds investing in...
Polish banks to put millions of confidential records on blockchain
Billon’s chief executive Andrzej Horoszczak Trading futuristic-sounding crypto-assets or conventional securities across new blockchain networks promising instantaneous transfer of value all sounds very exciting. Storing and updating millions of banking records, loan documents and terms and conditions, associated with insurance...
Trade finance on blockchain moves to full commercial production
Last week, HSBC and ING Bank successfully executed a live trade-finance transaction for international food and agriculture conglomerate Cargill using R3’s Corda blockchain platform. This was a bulk shipment of soybeans from Argentina, through Cargill’s Geneva trading arm to Malaysia,...
Xiaomi vindicates HK dual class decision – but at a cost
Lei Jun, co-founder of Xiaomi May brought welcome news for Hong Kong. Xiaomi, one of the world’s most successful smartphone manufacturers and China’s closest answer to Apple, will conduct its IPO on the city’s exchange, potentially raising about $10 billion....
The game of chess at the heart of China-US M&A
The most important theme in global M&A has become a game of chess being played by two shadowy committees with vastly different priorities. On one side of the board: the Committee on Foreign Investment in the United States (CFIUS). Under...
Mahathir’s comeback puts 1MDB and its bankers back in play
Malaysia’s newly elected prime minister Mahathir Mohamad Regular readers will recall that Nazir Razak, a lifelong CIMB man who is also the younger brother of ousted Malaysian prime minister Najib Razak, sometimes posts Game of Thrones images on his Instagram...
Euromoney special report: Southern Africa’s new leaders still have much to prove
The £2 billion London listing of Shell retailer Vivo Energy, which raised £548 million in May, was the LSE’s biggest such deal so far this year. It is the largest IPO out of Africa to take place in London since...
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