投资银行

A Luxembourg judge has frozen some assets held by UBS for Luxalpha, one of the principle European investment funds that gave money to US money manager Bernie Madoff, said a lawyer in the Grand Duchy yesterday.

一名卢森堡律师昨日透露，该大公国内的一位法官已下令冻结了瑞士银行集团为Luxalpha管理的部分资产。Luxalpha是向美国资金管理人伯纳德·马多夫提供资金的主要欧洲投资基金之一。

Enrique Eskenazi, a grandee of the private sector and the controlling shareholder in Banco Santa Cruz, argues that politics and business are so closely linked in Argentina because the country lacks the institutions that ought to separate them. In 2007 his company, Grupo Petersen, bought a 14.9% stake in YPF from Spain's Repsol, which wanted a well-connected local partner for its troubled investment.

民营企业大亨和Santa Cruz银行的最大股东Enrique Eskenazi认为，政商关系在阿根廷向来是紧密挂勾，因为国家乏缺一个将他们完全分离的体制。2007年，他的公司Grupo Petersen从西班牙Repsol石油购买YPF石油14.9%的股份，因为Repsol石油想要为自己的盲目投资找一个关系良好的本地合伙人接手。

Plan. In its half-yearly Financial Stability Report, it noted that for the first few months of 2006, higher interest rates did not make risky investments less popular, as they normally should.

7月12日英格兰银行提示了如果事情不按计划发展的话会有什么后果，在其半年度金融稳定报告中，它发现在2006年前几个月里，更高的利率并未像通常那样使风险投资不再风靡。

At present, Macquarie Bank, Hines, the Netherlands, ING Group and other overseas funds is the development of China's real estate market for investment, and Western investors will focus on Beijing and Shanghai, the two cities.

目前，麦格理银行，海因斯，荷兰ING集团和其他海外基金是发展中国房地产市场的投资，以及西方国家的投资者将集中于北京和上海，这两个城市。

This was partly because losses were far larger than expected for what was thought to be a low-risk investment strategy, and partly because the fund had made some ill-timed bets on banks, including Lehman Brothers.

大部分原因是该低投资策略的损失超出了预计很多，也有部分原因是该基金曾错误的对银行怀有信心如雷曼兄弟。

In response, China last night safely in its announcement made it clear that regardless of whether the three in the Quarterly Bulletin of the Fortis shares provision for impairment of investment capital and solvency is still very adequate, still robust financial, insurance, banking, Trust, securities and other main business is healthy growth, good customer rights and interests will be adequately protected.

对此，中国昨晚在其安全公告明确表示，无论这三个在富通股票的投资资本和偿付能力减值拨备季报仍然十分充足，仍然强劲的金融，保险，银行，信托，证券和其他主要业务是健康成长，良好的客户的权利和利益将得到充分的保障。

First of all, in recent years, an abundant supply of high-grade property is already a lot of projects to tend to a reasonable profit; Secondly, the credit enhance the threshold, the state's strict control of land makes the supply of high-end properties relative reduction, supply reduction and demand constant, high-end property prices will be the phenomenon; Third, the investment property is currently mainly concentrated in the commercial, high-end luxury apartments and other property, will make bank loans to enterprises in strict review of the project, thereby affecting the project normal operation, reflected in the market, a considerable number of projects the market will be delayed because of funding problems.

首先，最近几年，供应充裕，高档物业已经是一个很大的项目，往往一个合理的利润；第二，加强信贷的门槛，国家严格控制土地供应，使高端性能相对减少，减少供应和需求不断，高档物业价格将这一现象；第三，投资物业目前主要集中在商业，高端的豪华住宅和其他财产，将银行贷款给企业，严格审查的项目，从而影响了项目的正常运作，反映在市场上，相当多的项目的市场将被推迟，由于资金问题。

For the incompliant lending patterns mentioned above, on commercial banks part, improving the management and business technique will reduce, or even eliminate the incompliant behaviors in the pre-investigation process. From the Central bank and China Banking Regulatory Commission side, setting the inner network in the same industry, controlling the ratio of real estate loan, and enhancing the penalty to suppress the development of incompliant lending of real estate are effective ways to control risk. Fundamentally, the government should conduct the developer of real estate to search for the new financing mode to improve the stability and development, this might include some measures as follows: improving the liability financing structure of large real estate companies, develop the Reits and support its securitization to form the multi-financing.

对上述违规模式，从银行内部提高管理及业务水平方面，本文提出了针对性的风险防范措施，可有效地将违规的苗头扼杀在贷前调查过程中；从央行及银监会角度，可以通过建立同业信息沟通网络、严格控制房产信贷比重、加大违规惩戒力度等手段抑制房地产违规信贷的发展；而最根本的，政府应当引导房地产开发企业寻找新的融资渠道来促进房地产行业稳定和健康的发展，包括改善大型地产企业的债务融资结构、发展房地产投资信托基金及推动房产抵押证券化等方式形成房地产多元化融资的格局，这样，房地产违规信贷模式也就不攻自破了。

That is why its economy is growing, while Alistair Darling is still pleading ineffectually for UK banks to increase their lending and while UK investment in housing and transport is plunging by 30% and more.

这就是中国经济站在增长的原因，而此时英国财政大臣达林仍在徒劳地恳求英国银行增加借贷，同时英国房产和运输投资急速下滑了30%甚至更多。

In contrast to gold, other investments generate a return, such as an interest rate on a bank fixed deposit or a bond.

与黄金相反，其他投资可以带来回报，比如银行定期存款或债券会产生利息。

For a big chunk of credit-card losses; the number of filings (and thus charge-off rates) would be rising again, whether

年美国个人破产法的一个改动使得破产登记急速下降，而后引起了信用卡大规模的亏损。

Eph. 4:23 And that you be renewed in the spirit of your mind

弗四23 而在你们心思的灵里得以更新