Latest articles from World

Madrid puts Basel II back on track for 2006 implementation

November 3, 2003

Following the Basel Committee meeting last month, the US is on side again and the accord looks likely to keep within its timetable.

Legislation changes fuel euroscepticism in London

November 3, 2003

Paranoia is in vogue in UK financial circles. The EU’s recent move to ban internalisation could hit London exchanges hard and the europhobes are out in force.

Australia slashes credit card interchange fees

November 3, 2003

Interchange fees for credit card transactions in Australia are to be virtually halved following tough action by the Reserve Bank of Australia (central bank) and the failure of an appeal by Visa, MasterCard and BankCard in the federal court.

US loan persuades Turkey to send troops to Iraq

November 3, 2003

The Turkish government is gearing up to dispatch troops to Iraq to assist in US-led peacekeeping operations and in the rebuilding of its south-eastern neighbour, in return for an $8.5bn soft US loan, despite protests from the Iraqis themselves and from Kurds living in the northern part of the country, writes Metin Demirsar.

RSA gets balance right for empowerment charter

November 3, 2003

News that South Africa’s financial sector has agreed to an ambitious black empowerment charter has pushed financial stocks upwards. The government-endorsed charter sets down detailed empowerment targets for companies, paving the way for as much as 25% of the sector’s value to be in black ownership by 2010.

Sovereign rating boost spurs Russia’s retail giant to issue $1bn Eurobond

November 3, 2003

Russia’s state-owned retail giant Sberbank issued its first Eurobond last month. The bank is the first to cash in on ratings agency Moody’s surprise decision to award a two-notch upgrade to the sovereign rating – taking Russia into investment grade territory.

Property magnate and babe magnet

November 3, 2003

Hong Kong property tycoon Vincent Lo talks to Karina Robinson about his strategy for doing business with mainland China.

Peculiar powers for policing

November 3, 2003

Jan Wagner reports from Frankfurt on the unique powers of the German financial regulator but finds that its approach has not prevented banking troubles.

Maltese at crossroads over euro vision

November 3, 2003

Malta will be one of 10 states joining the EU next year. Michael Imeson reports on preparation in the financial sector, and the consequences that membership will bring.

Market booms

November 3, 2003

Foreign-owned bank expansion and strong economics are fuelling
the growth trend. Alice Brand reports.

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