In January, underwriters and issuers were sure innovations in the US FIG hybrid market would prompt a flood of new issues in 2006. Five months on, that flood is a trickle after NAIC classification concerns significantly stalled the infant market, resulting in a stand-off. Kathryn Tully reports.
There are a lot of disgruntled bankers, issuers and investors in the US hybrid bond market right now.

Antonio Brufau, chairman and CEO of Repsol YPF, tells Karina Robinson of his softly-softly response to Latin American energy nationalism.
Antonio Brufau is CEO and chairman of Repsol YPF, one of the top 10 listed oil companies in the world. He is involved with leading Spanish gas distributor Gas Natural in its hostile bid for Endesa, the Spanish utility.

Three mid-sized Chilean banks have handed their entire back-office and IT operations to national telecoms carrier Entel.

Under pressure from rating agencies, Reykjavik’s top financial brass politely make their case – unlike Venezuela’s premier Hugo Chávez.

The Republic of Cyprus has an optimistic economic growth story in shipping, services and tourism but faces a tighter labour market and political stalemate. 

EU accession has led to foreign direct investment flowing into Cyprus more freely as companies take advantage of its favourable tax rates and strategic location to do business in both Europe and the Middle East. Michael Marray reports.

Minister of finance Michalis Sarris insists economic indicators prove Cyprus is on track for euro adoption.

Farhan Bokhari reports on the push for the expansion of shariah-compliant Arab Islamic money outside the Middle Eastern region.

After a rocky start, the Dubai International Financial Centre appears to have reached critical mass.

Boom time in the Middle East does not translate into an easy ride for fund managers, says Nick Kochan.