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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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The European Commission might be breathing a sigh of relief that its messy involvement with Germany's WestLB will soon come to an end. But it shouldn't think for a moment that it has achieved anything.
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Good news for emerging market lenders: M&A is back and borrowers are looking for loans. But is this really the fee-rich business that bankers have been waiting for? So far, it appears not, but a small fee is better than no fee.
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Criticising Cocos means criticising the consensus that these securities will solve the capital problems of the big international banks. Plenty of people, from DCM bankers to treasurers to politicians, have vested interests in backing the new system. Mervyn King should be applauded for resisting the urge.
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Standard & Poor’s unexpectedly withdrew its rating of Nine Dragons Paper Holdings last week, taking the unusual step of announcing the move during Hong Kong trading hours. Nine Dragons’ stock plummeted, before it was belatedly suspended. Some investors were fuming. But calls for the regulator to impose hard rules on when agencies can and can’t release their reports are misguided. Let the market decide.
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The latest initiatives designed to stave off a Greek default are unlikely to be successful, for the same reason that previous measures have failed — namely, that they don't tackle the fundamental issues. In any case, trying to keep the eurozone together is the wrong goal.
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Credit ratings suggest a high chance of Greece defaulting, a zero chance that the US will. Can that view be justified, when both depend on political choices?