GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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April 2004

Main

Top stories

Credit research poll 2004

Full Results

Fund management

Catching profits from the falling dollar

Western Europe

Commerzbank bites back

Equity markets

BNPP finds solution to equities woes

Crédit Agricole shuffles off its equities overlap

Ways to escape catch-22

Emerging Europe

Watch out for the reverse brain drain

An iron fist in the liberalization glove

Taking care of the golden goose

A banking reform breakthrough

Good-bye triple-digit growth

Ukraine emerges from Russia’s shadow

Anatoliy Shapovalov: Building up investors' trust

Behind schedule to catch the EU train

Croatia’s government makes a strong start

To spend or not to spend

Intesa bid lifts hopes for Turkish economy

Garanti's second chance

Corner shop capital markets

Private banking

Benefits of an open approach

How Coutts crossed the gap with a mighty leap

Nordic banks respond to demanding clients

Middle East

Egypt enjoys new optimism

Emerging market debt

No cause for panic in emerging markets

Debt markets

AFT reflects on a new asset class

Linkers seek new direction

Pfandbriefe cannot count on brand loyalty

Editorial

Patterns raise fears of a big correction

Front End

Tony Blair takes on Fleet Street

Gary plays a round with Citi

Toms bet their shirts on edgy trading attire

CEOs bankroll the Bush bandwagon

Chuck Prince's maple leaf rag

HK Sevens go for soft props

Breakingviews

Guaranteed pain at WestLB

KPN's charm offensive

Rhodia's acid test

Market Monitor

Germany's IPO market stalls as deals are aborted

Physicists look to suck up all the nickels

Asia's wealth managers lag behind rivals

Terror attack and politics fail to dent economic strength

Emerging markets

Refusing to play the restructuring game

An economy on the mend

Equity derivatives trading booms

Deal Insider

Thunderbird Three is go for BNP Paribas

Allianz's hybrid deal wins it C basket treatment

Against the tide

Against the tide: A wall of worry is building

People

Angel Ron

Donald B Marron

Financial Lawyer

Invensys pays dearly to break the trend