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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.

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.

CEOs with eyes on expansion

November 3, 2003

The heads of the top three banks in Singapore tell Karina Robinson about their strategies for growth – three different routes to overseas expansion.

All uphill for foreign banks

November 3, 2003

Despite the liberalisation of China’s banking system, in line with WTO guidelines, foreign banks still face major hurdles in operating profitably, says Louise do Rosario.

Crisis? What crisis?

November 3, 2003

Political upheaval can translate into easy money for the financial sector – despite what the bankers might say, argues Jonathan Wheatley.

Safe spot for investment

November 3, 2003

Monica Campbell reports from Mexico City on why investment bankers’ optimism has not been dented by the slumping economy and political frustration.

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