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Non-US companies escape US Gaap

India's private sector is funding the country's infrastructure growth, but international investment would take it to the next level. By Amarchand Mangaldas

Intermediate Capital Group provided mezzanine capital and equity co-investment with 3i in Franklin Offshore, a Singapore based company.

Japanese M&A is healthier than you think

The new Finnish Audit Act (Act 459, April 13 2007) and related legislation entered into force on July 1 2007. The Act implements Directive 2006/43/EC, the Statutory Audit Directive, on statutory audits of annual accounts and consolidated accounts, ensuring transparency and quality assurance for statutory audits, and statutory auditors' independence within the EU. The Act also features some small amendments based on national needs and further introduces the international auditing standards adopted by the EU, aiming to achieve a maximum degree of harmonization in all statutory audits throughout the EU.

An Indian company may invest directly in a joint venture (JV) or wholly owned subsidiary (WOS) abroad engaged in a bona fide business activity, provided that the total financial commitment/overseas investment of the Indian company does not exceed 200% of its net worth, according to the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations 2004.

The China link

Emerging markets are old news. Everyone knows the silly statistics related to China's GDP projections, or the size of India's potential consumer market. In these countries the tension between regulatory reform and bureaucracy (or political will) is evident, and is often what determines a rate of growth. That tension also takes up many column inches in the financial press.

The language of leverage

Investors fight back on loan covenants