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  • By Izuru Goto of Tanaka & Takahashi, Tokyo
  • Introduction by Banca d'Italia
  • By John G Myers of Smith Lyons, Toronto
  • New era in Turkish banking industry By Özlem Oral, LLM, Birsel Law Offices, Istanbul
  • By Allen & Overy, Paris
  • Varied fortunes for the South African bond market
  • Brazil commits to lifting exchange controls
  • UBS, the Swiss financial group and world's largest private bank, is buying PaineWebber, the fourth largest private client bank in the US, for $10.8 billion. The deal gives UBS access to PaineWebber's $475 billion worth of client assets.
  • Late June and early July saw a flurry of equity issues closing as bankers, lawyers and corporate chiefs alike tried to clear their desks before a well-earned summer reprieve. Among the offerings for those picking up investments before picking up the suntan lotion were two technology flotations - Zen Research and Orchestream – which took place in London under Chapter 25 of the listing rules of the UK Listing Authority. Allen & Overy, was involved in both through its relationship with UBS Warburg.
  • Lovells is enjoying a good year with client Granada. The UK television group has kept three teams at the firm busy so far and looks as if it may have more work on hand as it continues to play a role in the struggle for dominance in the UK's commercial television market.