September 2005 Archives

By Maya Fisher-French -

For Deutsche Bank and the JSE, the launch of Itrix, their range of international exchange traded funds (ETFs), could not have come at a better time amid fierce public debate on fund management fees.

An ETF is a basket of shares that passively tracks an underlying index and is itself listed on a stock exchange. The major selling point is that the costs of investing in an ETF are substantially lower than actively managed funds.

Attracted by the jurisdiction's light tax and regulatory touch, the Cayman Islands authorities are registering almost 35 new funds per week, according to Gary Linford, head of the Investment and Securities Division of the Cayman Islands Monetary Authority.

Speaking at a fund industry seminar in Jamaica last month, Mr Linford noted that the Cayman Islands have become "the domicile of choice" for eight out of ten hedge funds around the globe.

By Margaret Orgill -

ABERDEEN (Reuters) - The country could have difficulty meeting gas demand this winter if it is exceptionally cold and industrial consumers could see their supplies cut, the energy minister said on Tuesday.

This is due to falling gas flows from ageing North Sea fields, Malcolm Wicks said.

"This winter could be tough. If there is very, very cold weather in the UK, there could be some difficulty...this would not affect domestic customers but could affect industry," Wicks told Reuters on the sidelines of the "Offshore Europe" conference in Scotland.

By John Waggoner -

The past five years in the U.S. stock market have been like an all-expense-paid trip to the South Pacific. By raft.

If you're thinking of sending your money to exotic locales -- Latin America, Eastern Europe or Asia -- it may be a profitable trip. The trick is coming home before you get set adrift.

MOSCOW. Sept 1 (Interfax) - Investing in stocks could be the best way for investors to make the most money on the Russian financial market in September, as it was in August, Interfax Center for Economic Analysis analysts said.

Analysts said the S&P/RUX composite index could grow 4%-5% to 234- 236 by the end of the month. The benchmark RTS stock market index could grow to 920-930 by the end of September. Unified Energy System (UES) stocks will likely be worth 35-36 cents, Lukoil could grow to $50-$51 and Gazprom could be at 110-111 rubles a share, the experts said.

China's biggest lender, Industrial and Commercial Bank of China (ICBC), is selling a 10% stake to Goldman Sachs, Allianz and American Express.

The deal, said to be worth more than $3bn (£1.7bn), is just the latest example of Western financial houses investing in Chinese banks.

Bank of America and Royal Bank of Scotland are two other firms who have recently bought into Chinese lenders.