Latest articles from Comment

Deutsche adrift at sea as captain is caught in storm

May 3, 2004

Steering a mighty ship when the captain is partly absent can have its problems. This month we look at the challenges facing the giant Deutsche Bank and assess its progress while chief executive Josef Ackermann continues to be consumed by a distracting court case in Düsseldorf. Deutsche needs its captain.

German efficiency deserts banking sector

May 3, 2004

With an already fragmented banking sector and state-owned banks reluctant to change, Germany will remain behind its European peers.

Shoo-in for IMF top job sees unprecedented troubles ahead

May 3, 2004

The EU’s candidate for IMF managing director, Rodrigo Rato, believes that it will be impossible to do the job well.

Big four are playing with fire in auditing multinationals, says PwC

May 3, 2004

The big four accounting firms face the increasing threat of litigation over multinational audits and the main ratings agencies are in danger too.

Foundation of Latin American economic revival is shaken by US and China

May 3, 2004

The signs for optimism in Argentina, Brazil and Mexico are under threat from a cooling of the Chinese economy and a probable rise in US interest rates.

Making business work for the poor

May 3, 2004

Ernesto Zedillo discusses the private sector as a weapon against poverty and why it needs to operate within a proper legal framework.

Ural Siberian deal puts NIKoil at forefront of banking consolidation

May 3, 2004

Consolidation among Russia’s biggest banking institutions is starting to take place as bankers realise that organic expansion will not provide fast enough growth, particularly in the retail sector.

US economic recovery feeds through to banks’ Q1 results

May 3, 2004

US banks reported strong first quarter results on the back of a solidifying economic recovery, demand for banking products and improved asset quality. Here are the highlights of some of the top banks:

GE seeks to soften bad image with Europeans

May 3, 2004

GE, one of the largest companies in the world with a market capitalisation of circa $330bn, has made a 360 degree turn in its relations with the press and governments in the EU.

Albania sells off Savings Bank for $126m to Austria’s RZB

May 3, 2004

Austria’s Raiffeisen Zentralbank (RZB) has expanded its role in central and eastern Europe with the 100% acquisition of Albania’s largest bank, the Savings Bank of Albania. Following the failure of earlier attempts to privatise the bank, plans were announced by the government last September to sell it by tender and RZB paid $126m for all the bank, representing a 2.5 multiple ofbook value.

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