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  • By Mira Davidovski and Brenda Horrigan of Salans Hertzfeld & Heilbronn, Paris and Moscow
  • 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.