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Chemical sector's growing uncompetitiveness a problem when it comes to attracting investment in the capital markets
When staff complain, they deserve a fair hearing, not a wall of silence
Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
Little green men could be closer than they appear
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A bigger bank is not necessarily the same as a stronger bank, which is why the Bank of Italy’s draft proposal redefining which borrowers can issue covered bonds should be applauded.
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The Islamic Republic of Pakistan, rated B- / CAA1, will consider it a great result if it can re-establish a five- and 10-year international bond curve this week – following a seven year hiatus – by pricing close to higher-rated Zambia. But for a country with Islamic in its name, with a growing Islamic banking industry and with Islamic finance globally gathering momentum, it would be an oversight if it does not also re-establish a sukuk curve, and soon.
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The European resolution mechanism should be agreed next week. But the nature of resolution means that any agreement less than 100% sound is not fit for purpose. Fault-lines in resolution planning are like holes in a bucket — if they exist at all, the bucket won’t work.
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India's cash-strapped state-owned banks breathed a sigh of relief last month when the country's central bank pushed back its rollout of Basel III by a year. But the move fails to reward the better functioning private sector banks and takes India a step further away from a more efficient financial system.
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The UK government now owns a 24.9% stake in Lloyds and a 30% stake in Royal Mail. But although the National Audit Office has recommended that lessons are learnt from the Lloyds share sell-downs, the performance of the two stocks over the past few months means that wildly different approaches are needed.
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The European Commission’s report on a eurozone debt redemption fund and eurobills throws up as many difficulties as it does potential benefits. But as politicians have relied on the inventiveness of the European Central Bank, rather than their own efforts, to calm the storm of the eurozone sovereign debt crisis, it is about time they took the steps needed to permanently cure the currency bloc’s ills.