Latest articles from Nick Kochan

Border control

November 4, 2004

Cross-border issues always add extra complexity to M&A deals. But in the Cemex acquisition of RMC, co-lead managed by Citigroup and Goldman Sachs, there was clearly no language barrier, writes Nick Kochan.
When you are doing a cross-border deal, it helps if your codename makes sense in your client’s language as well as your own. This was not quite the case in Cemex’s purchase of RMC in September. When the English-speaking bankers referred to the deal among themselves, they called it Bromium. When they talked to their Spanish-speaking clients, they called it Bromo.
And the bankers also had different interpretations of the name: one thought it was named Bromo after a volcano in Java, while another thought it was called Bromium after an ingredient in cement. Cross-border communication between bankers and client might have got horridly confused. In fact, relations were faultless.

Turnaround gathers pace

October 4, 2004

Turkey’s economic health is improving faster than many expected and the positive outlook is spreading to the ratings agencies. Nick Kochan reports from Istanbul on the factors that have stimulated this accelerated progress.

Domestic bonds look enticing

October 4, 2004

Investors are being tempted into the Turkish government bond market by transparency and accessible information about state borrowing, and by bond sellers confidence in the economy, says Nick Kochan.

Take-off is delayed

October 4, 2004

The government has suffered some severe setbacks in its privatisation programme but it has a steely determination to press ahead and has more sell-offs slated for the near future, says Nick Kochan in Ankara.

Brokers feel the squeeze

October 4, 2004

The good times may be rolling for Turkey’s economy but for some members of the country’s broking community, the situation is bleak.

Keeping cash clean

May 3, 2004

His Excellency Sultan bin Nasser al Suwaidi, governor of the central bank of the UAE, tells Nick Kochan that the fight against money laundering is not new.

Squaring up for business

May 3, 2004

Nick Kochan finds Dubai and Bahrain are competing hard for the region’s growing business opportunities.
The announcement in April of a new federal law governing Dubai’s embryonic financial centre heralds a battle royal between the Gulf states of Dubai and Bahrain. Dubai is the upstart in the imminent struggle, while Bahrain is more established but there can be no doubting Dubai’s enthusiasm, ambition and ‘can-do’ approach.

Is the PFI about to hit the buffers?

August 2, 2002

Forget worrying about corporate collapses. The growth of PFI financing is playing havoc with public money. Eventually an Enron-style disaster will be rerun on a sovereign balance sheet.

Enron fallout: why insurers fail banks

March 2, 2002

JP Morgan Chase thought it had its Enron risks insured. Now it is fighting a legal battle to reclaim the money. The case raises wider questions about the effectiveness of credit insurance and the much-heralded convergence between banking and insurance.

Turning bad credits into profits

August 2, 2001

If your image of sub-prime is of penal interest rates and unsavoury collection methods, think again. The sector is on its way to respectability and boosting banking profits. Nick Kochan reports

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