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Friday, 6th December 2019
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Finance Magazine - July 2000 Issue

 
The future of corporate financial management software
PricewaterhouseCoopers' recent worldwide assessment of technology usage made the following predictions for ERP, CRM and ASP software.
Irish venture capital growth rockets ahead in Europe
Investment in European private equity increased by a quarter in 1999, according to the most recent figures published by the European Private Equity and Venture Capital Association (EVCA).
Duisenberg: no emotional comment
At the press conference following the meeting of the Governing Council of the European Central Bank on 6 July, Wim Duisenberg gave some sound advice about media relations.
Estate agents grow private client services
In conjunction with NCB Stockbrokers, Gunne Commercial has recently launched a tax-efficient geared property fund.
NTMA to recruit fund managers from September
Michael Somers says to Finance that the recruitment process will begin as the Oireachtas prepares to debate the Bills giving new powers to the agency.
ECB seeks report on banking M&A
Speaking after the meeting of the Governing Council of the European Central Bank on 6 July, ECB President Wim Duisenberg said the bank had decided that a report on ‘mergers and acquisitions involving the EU banking industry’ should be prepared for publication in the autumn.
$100bn US venture capital tidal wave builds
US no longer has ‘exclusive claim’ on VC culture, says Morgan Stanley guru.
Arthur Cox tops legal survey
For the second year running Arthur Cox has taken the position of top Irish law firm in an international survey of Irish in-house lawyers.
Friends First in phase II of European growth
Friends First is to be part of the newly-formed Eureko NV company which has announced its intention to seek a public listing on European stock markets within two years.
Fitch explains European Pfandbrief-type bonds
The international ratings agency, Fitch, has issued a report analysing the differences between mortgage bonds in European jurisdictions.
Gateway to deliver real time credit approval
Computer hardware company Gateway is partnering with financial services companies to create an internet web-hub.
‘Defined contribution’ dominate new pensions
The Pensions Board’s annual report for 1999 has confirming the overwhelming trend in pensions provision towards defined contribution schemes.
EBS raise E500million in first mortgage book securitisation
First lead role for Irish lawyers.
ECB ‘very preoccupied’ by regulatory issues, seminar told
The wider issues of financial regulation have been drowned out in the controversies over tax, compliance and the single regulatory authority, an Institute of European Affairs seminar heard.
EDITORIAL
It is remarkable how the areas of capital markets finance and wholesale financial services are increasingly disconnected from retail financial services and the issues and controversies surrounding them.
Scrap the Single Regulator and make way for European supervision
Ray Kinsella argues that it is still not too late to ditch the whole principle of a single regulatory authority for financial services and to support moves for the European Central Bank to have a real role in financial supervision.
Is the ISEQ relevant any more?
Des Doran examines the use of the ISEQ and other indices as benchmarks in the context of European and global investment opportunities
Third quarter on currencies and bonds
At the beginningof each quarter, Finance invites bond and currency market experts to give their outlook for the quarter and to predict the level of key indicators at the quarter end. Following on from last quarter’s predictions the analysts who gave predictions comment on their accuracy. The third quarter of this year began in July and will end on Friday 29th September. The following are the assessments for the current quarter.
Third quarter on currencies and bonds
At the beginningof each quarter, Finance invites bond and currency market experts to give their outlook for the quarter and to predict the level of key indicators at the quarter end. Following on from last quarter’s predictions the analysts who gave predictions comment on their accuracy. The third quarter of this year began in July and will end on Friday 29th September. The following are the assessments for the current quarter.
Cafeteria benefits - a recruitment and retention solution for the financial services industry
Since labour market power is now with employees rather than employers, a human resource management approach that adjusts to the trend is more likely to be successful, writes Ray McKenna.
Inflows distort pricing of risk
Speaking at an AIB investment managers seminar recently, Joe Rooney, managing director of Lehman Brothers Global Equity Strategy, emphasised that the current long-running equity cycle was reaching a turning point. Rooney described how the New Economy, as it applies to the global equity market, is looking distinctly tired. The following is an extract from his presentation.
1.4 p.c. return means tough year so far for managed pensions
Volatility and corrections in equity markets show up in the half-year returns for Irish managed pension funds tracked by Mercer actuarial consultants. The highest performing pension fund was Canada Life/Setanta Series D with an 8.3 per cent return in the first six months of the year, including a minus 0.4 p.c. for the second quarter - also the best achieved in that time. The average return for the first half was just 1.4 p.c., while the median was 1 p.c.
Key changeover decisions for the euro being delayed
‘From 1st of January 2002 all the basic operational functions have to be carried out in euro’, Yvonne Cullen reminds Irish business.
Pension mortgages now more attractive
Alison Coffey on how to buy a property, maximise tax relief and have your business pay for it.
Irish fund managers anticipate £300bn industry within five years
Speaking recently at the Dublin Funds Industry Association conference, Kevin Murphy, currently Chairman of the Irish Association of Investment Managers, outlined his view of how members of the IAIM would manage £300bn within 5 years.
Financial management in IT services
Paul O’Brien is Finance Director at IT Alliance, an IT service company established in 1997 and now employing 250 people. It covers outsourcing, testing and consulting, and has partnered with technology companies such as Compaq and Netscape. He previously worked for Compaq and Glen Dimplex.
Rigging the housing market
The latest stamp duty measures continue the trend of penalising landlords and tenants of residential property and favouring owner occupiers of residential property.
Sunset on tax havens?
The OECD have identified tax havens. It has served them with an ultimatum to end “harmful tax competition” by a deadline.
Anti speculative property tax
The new tax affects principally holiday homes acquired after July 14; property acquired by parents for use by children or vice versa; and rental properties not complying with certain conditions.
Internet to be taxed
The EU have published their proposals to ensure that internet based services sold into the EU will bear VAT. It marks a decisive end to the internet’s tax honeymoon.
Wild geese
As financial services become more pan-European, Paris seems like a good base
Who’s who in Finance: Dermot Byrne, Head of Unit, ERDF & Cohesion Fund Financial Control Unit, Department of Finance
 
Who’s who in Finance: Ann Horan, Managing Director, Bank of Ireland Commercial Finance Limited
Who’s who in Finance: Dr Eileen Fitzpatrick, Managing Director and Chief Investment Officer, AIB Investment Managers Ltd (AIBIM)
 
Who�s who in Finance: John Crowe, Relationship Manager, Merrill Lynch International Private Bank
 
Smurfit highlights potential gains for active investor relations in Irish companies
Mark Kenny says his company's success in increasing its shareholder base in the US is evidence of the tangible rewards of an integrated investor relations unit.
Outplacing financial staff challenges traditional mindset
With at most 35 per cent of staff in traditional functions likely to move to international services, many people in financial services will be making major career and lifestyle adjustments in the near future. There are plenty of opportunities apart from early retirement, writes Gerard O'Shea.
Audit review group can help align standards to international best practice
In addition to correcting misconceptions about the nature of the accounting profession, the work of the Review Group on Auditing can highlight the need to stay competitive in international financial services in Ireland, writes Peter Carroll.
Banks to open flood gates to m-commerce
Secure mobile banking will be a killer application for mobile commerce, writes Irene Dehaene.
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