Investment activity in Romania remains one of the lowest in the European union as only 68 percent of firms invested in the last financial year, compared to 87 percent EU-wide, according to a European Investment Bank (EIB) study. “Investment gaps are prevalent despite the strong – but mainly consumption driven – growth in recent years, Uncertainty about the future and business and labour market regulations are the most significant barriers to investment,” the study says. Innovative high-technology firms are more likely to face difficulties in obtaining external financing, according to EIB. “Understanding investment constraints is crucial for Romania to continue its path towards economic convergence,” the study indicates. The EIB survey reveals that the perceived investment gap – expressing the share of firms that did not invest enough in recent years – is above the EU level (20 percent vs 16 percent). “This confirms the low … [Read more...] about European Investment Bank: Investment activity in Romania remains one of the lowest in the EU
Leveraged finance investment banking
Deutsche Bank has reportedly started cutting some of its top London investment bankers as the German lender kicks off a dramatic downsizing of operations. A team of 10 emerging markets bankers have been let go, unnamed sources told Reuters. Led by 18-year Deutsche veteran Philipp von Danwitz, the team were told this week as the lender confirmed plans to slash more than 7,000 jobs globally. Deutsche intends to slash the number of full-time positions from just over 97,000 to "well below" 90,000 as part of wider work within the company to cut costs and return to profit. Read more: Deutsche Bank announces plans to cut over 7,000 jobs "We remain committed to our corporate and investment bank and our international presence – we are unwavering in that,” said the bank's new chief executive, Christian Sewing. “We are Europe’s alternative in the international financing and capital markets business. However, we must concentrate on what we truly do well.” Sewing was … [Read more...] about Deutsche Bank cuts top London investment banking team
Deutsche Bank AG will cut a quarter of equities jobs and reduce overall positions by at least 7,000 as Chief Executive Officer Christian Sewing seeks to slash costs and boost profitability at the investment bank.The reductions will take the number of jobs at the Frankfurt-based lender to well below 90,000 and lead to a restructuring charge of as much as 800 million euros ($935 million) this year, it said in a statement on Thursday. The bank also plans to reduce funds at risk and seek to further drive down expenses.Sewing is accelerating a push to refocus the lender on its European home market and reverse a two-decade effort to compete head-to-head with the large Wall Street firms that dominate volatile securities trading. The future of the investment bank and failure of predecessor John Cryan to cut costs and restructure fast enough had been key factors in last month’s management shakeup. Global equities has been one of the new CEO’s first targets.The cuts may end up being … [Read more...] about Deutsche Bank Says It Will Cut at Least 7,000 Jobs in Revamp
Turkey's banking sector has enjoyed the inflow of foreign investment for almost more than two decades. European and Gulf investors have been acquiring Turkish banks or bringing their brands to Turkey. The latest example of such an investment made headlines yesterday when Russia's largest bank, state-owned lender Sberbank, agreed to sell its entire 99.85 percent stake in Turkey's fifth-largest private bank Denizbank to Dubai's Emirates NBD, according to a joint statement. "In accordance with the signed agreement, the consideration for 99.85 percent equals TL 14.6 billion ($3.2 billion) under a locked box mechanism, based on consolidated equity capital of Denizbank as of Oct. 31, 2017," the statement read. The closing of the transaction is subject to regulatory approval in Turkey, Russia, the United Arab Emirates (UAE) and other relevant jurisdictions where Denizbank operates. The transaction is expected to close in 2018. It said Emirates NBD will pay interest on the consideration for … [Read more...] about Foreign investment in Turkish banking sector continues with Denizbank’s sale to UAE’s NBD for $3.2 billion
The year 2018 has been volatile for the markets. Stocks rapidly climbed to record territory early in the year before finally posting a long-awaited correction. And the energy market has seen a dramatic rise in oil prices that's helped to bolster prospects for oil and natural gas related companies. Yet for conservative investors, one popular investment that most see as being particularly safe has turned out to be a big loser, and that's forcing many people -- especially retirees -- to reconsider how they invest more broadly. Retirees and those approaching the end of their careers often are advised to reduce stock market exposure. Instead, many end up putting larger percentages of their savings into fixed-income investments like Treasury bonds. Although Treasuries are backed by the full faith and credit of the U.S. government, making them the safest dollar-denominated debt instruments on the planet, they are far from risk-free. As many retirees are learning the hard way in 2018, Treasury … [Read more...] about Should Retirees Dump This Losing Investment?