Almost a decade after Wall Street questioned the appeal of securities tied to economic growth that Argentina issued to extricate itself from a record $95 billion default, banks from Citigroup Inc. to Credit Suisse Group AG are doubting whether they can be valued at all.
Greek government bonds are worth buying at 61 cents on the dollar because European Union officials must agree a bailout package, said Eric Kraus, a strategist at Otkritie Financial Corp., a brokerage part-owned by Russia’s second-biggest bank.
In a Muslim cemetery on a hill above Almaty, Kazakhstan’s largest city, a bronze bust of Erzhan Tatishev faces away from the headquarters of the bank he once led. It’s a fitting final gesture for BTA Bank JSC’s first chief executive officer, who died of a gunshot wound while hunting wolves near the Kyrgyzstan border in 2004.
Baring Vostok Capital Partners is betting on online retailer Ozon.ru and classifieds website Avito.ru after Russia’s largest private-equity firm earned 500- fold returns on its investment in search engine Yandex NV.
The world’s eight largest potash miners, whose market control already exceeds that of oil cartel OPEC, are poised to tighten their grip on prices of the crop fertilizer as proposed mergers consolidate sales channels.