| International trade and payments |
Issue: 07 / 2004 |
| AIB Capital Markets present a glossary on terms used in international trade and payments. |
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| Ireland may benefit from new Directive |
Issue: 07 / 2004 |
| Directive calls for holding companies to be set up. |
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| Irish Nationwide’s debut sterling issue |
Issue: 07 / 2004 |
| Irish Nationwide Building Society launched its first sterling bond on May 27th. The ?250 million issue, which was rated A3 P2 by Moody’s, and which has a maturity of December 15th, 2008, was issued at a price of 99.969 per cent, and a coupon of 5.875 per cent. The issue will be used for general funding purposes. BNP Paribas was the arranger for the deal, and the dealers were BNP Paribas, Danske Bank, Davy, Dz Bank Ag, Rabobank International, SG Corporate +Investment Banking, The Royal Bank Of Scotland and Westlb Ag |
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| Majority of global new markets fail to deliver |
Issue: 07 / 2004 |
| More than half (22) of all global new markets (38) are merely existing without much of a purpose, some, including Portugal's Novo Mercado, failing to attract companies and funds altogether, Paul McCann writes. Others however, such as London’s Alternative Investment Market, continue to go from strength to strength, attracting companies such as Ireland’s CNG. |
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| New chairman for IVCA |
Issue: 07 / 2004 |
| Shay Garvey, a co-founder and partner of Delta Partners, has been elected chairman of the Irish Venture Capital Association (IVCA). |
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| New developments on VAT at EU level |
Issue: 07 / 2004 |
| The Advocate General of the European Court of Justice has published an opinion on a case of significance to funds, and also in a separate case involving cross border insurance, Terry O'Neill reports. |
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| NTMA to kick off pension move to hedge funds |
Issue: 07 / 2004 |
| Although the latest influx in capital into the $1 trillion global hedge fund industry has been largely driven by pension funds, Irish pension trustees have been reluctant to allocate to alternatives. However, as KBC prepares to launch one of the first hedge fund products aimed at Irish pension funds, and the €10 billion national pension fund moves into alternatives, it may be just a matter of time before Irish trustees catch up with their international counterparts. |
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| Oil prices will trigger global rate rises |
Issue: 07 / 2004 |
| Niall Dunne analyses the impact of recent trends in the oil markets, and warns of higher interest rates ahead. |
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| On the road - marketing DEPFA Bank's $1.5 billion extendible issue |
Issue: 07 / 2004 |
| Jackie Hughes describes her recent roadshow in the United States, which saw her visit New York, Charlotte, Boston, and New Hampshire, marketing a DEPFA Bank US$1.5 billion extendible issue, the first time DEPFA acted as a co-selling agent on a re-financing bond issue. |
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| One Ireland – Two Taxes |
Issue: 07 / 2004 |
| Irish people who move across the border to work or marry face potentially costly traps from poorly co-ordinated gift and inheritance tax systems. |
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| Over-confident CEOs can lead to disastrous M&A deals |
Issue: 07 / 2004 |
| There are major lessons to be learnt from behavioral finance, a rapidly growing area that applies psychology to financial decision making, says Hersh Shefrin. And financial executives are not immune. Psychological phenomena provide the major explanation for why the majority of merger and acquisition activity has destroyed value for shareholders. |
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| Pension fund awards $300 million in mandates |
Issue: 07 / 2004 |
| The Irish National Pension Reserve Fund has awarded two new mandates to Detusche Asset Management (DeAM) and UBS Investment Management. |
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| Personal investment: Equity investing for income with growth |
Issue: 07 / 2004 |
| High yield equity investing in blue-chip stocks will outperform other types of investment, and moreover will do so with very little input required from the investor writes Stephen Elliott. |
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| Property investment: Southern hemisphere’s ‘hot spot’ is not without risks |
Issue: 07 / 2004 |
| After the accession countries, South Africa has been identified as the next ‘hot spot’ for property investment. Resident Sheila Killian examines the risks and rewards associated with such a transaction. |
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| Regulating mergers - how has the Competition Authority been doing? |
Issue: 07 / 2004 |
| By far the most important and potent weapon in the Irish Competition Authority’s regulatory armoury is its merger control function. Since 1 January 2003, every large M&A transaction with a potential impact on Irish markets must, prior to closing, be notified to and approved by Authority officials. If the Authority takes the view that a deal may lessen competition, it can without the need to prove its case in Court prohibit that transaction outright. Without doubt, that makes the Competition Authority Ireland’s most powerful business regulator, writes Philip Andrews. |
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