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The anticipated enlargement of the EU and the expansion of its internal market borders will broaden the impact of the principle of the free movement of goods and services to include the newly acceding countries (Romania and Bulgaria). A direct consequence of the implementation of this essential European Community principle will be parallel trading – a lawful form of trade within the internal market related to trading genuine goods in the country of import, without the authorization of a trademark owner.

As of March 8 2006, the Czech Republic implemented the EU Prospectus Directive (2003/71/EC) by way of amendments to the Czech Capital Markets Act and the Czech Act on Notes. Accordingly, for the purposes of a public offer or admission to a regulated market, the prospectus approved by the competent authority of the issuer's home EU state, or the EU state where the security was first publicly offered or admitted to the regulated market (which may be different from the issuer's home state), is generally also valid in the Czech Republic (and any other EU member state). Numerous foreign issuers (banks and real estate investors) have already made use of this option to easily expand the territory of their securities offers, mostly to the central European region.

In operating specific manufacturing business in Indonesia, there are times when the price of raw material can soar, especially in the period approaching Idul Fitri or Christmas. In such times, manufacturers do not have many options. The high price of raw material causes immediate increase in cash fund needs and results in an imbalance in cash flow. To maintain the flow of production, manufacturers usually seek loans from indirect shareholders, because obtaining a bank loan takes time. As with any other type of loan, the loan from the indirect shareholder applies interest, which is usually charged at the interest rate applied by the manufacturer's creditor bank.

As WaMu issues the first US covered bonds, Ben Maiden looks at the prospects for UK and US law firms

In its August newsletter the Malta Financial Services Authority (MFSA), while commenting on the recent report Managing, Servicing and Marketing Hedge Funds in Europe prepared by the Alternative Investment Expert Group, referred to the fact that the MFSA now approaches the licensing of its 80th hedge fund in 24 months.

Recently released figures on foreign direct investment (FDI) into Cyprus reveal some interesting features. After rising by 10% in 2004, estimated FDI increased by a further 7% in 2005, to C£541 million.

Inherent barriers to consolidation are set to limit fundamental change in the Middle East

Hedge funds and emerging market bonds are not far away

Microsoft's Greg McCurdy talks to Ben Maiden about plans to increase private antitrust lawsuits in Europe

Will Chile's plans to open its bond markets work?