News Releases - Ernst & Young - Croatia

News Releases

Recent news releases issued by Ernst & Young.

July 2009

• Misaligned and fragmented risk functions jeopardizing organizations’ performance – Ernst & Young study
  Zagreb, 17 August 2009
  Ninety-six percent of organizations believe they have an opportunity to improve their risk management functions. Furthermore, nearly half say committing additional resources to risk management could create a competitive advantage, according to Ernst & Young’s Future of Risk survey, which examined organizations’ attitudes toward risk management.
• Up to €20 billion tied up in working capital among leading European telcos
  Zagreb, 13 July 2009
  Up to €20 billion of liquidity could still be unnecessarily tied up in working capital among the 15 leading telecoms operators in Europe, despite significant progress being made in recent years, according to a new report by Ernst & Young.

• IPO activity shows uplift but outlook remains uncertain 

  Zagreb, 7 July 2009

  Global IPO activity increased in Q2 with 76 IPOs worldwide compared with 52 the prior quarter, according to Ernst & Young’s second quarter Global IPO update. Deal value increased seven-fold to US$9.9 billion from just US$1.4 billion. However activity remains sharply down on 2008 levels when the second quarter saw 269 IPOs raise US$38.2 billion in capital.

June 2009

• European Inward investment stalls as recession looms

  Zagreb, 4 June 2009

  Inward investment into Europe was flat in 2008, according to Ernst & Young’s annual Country Attractiveness Survey published today, demonstrating the global recession’s toll on investment projects into the region. 

May 2009

• Network assets back in favor as power tilts towards pipe owners 
  Zagreb, 11 May 2009
  Despite the economic downturn, these are good days for asset-heavy incumbent telecoms operators with established networks, according to a new study of the telecoms sector by global professional services organization Ernst & Young.

April 2009

• IPO activity continues to slow with just 50 IPOs worldwide in Q1 2009
  Zagreb, 7 April 2009
  Global IPO activity continues to stall, according to Ernst & Young’s first quarter Global IPO update. A total of 50 IPOs worldwide raised just US$1.4 billion in capital between 1 January and 31 March 2009. Only two deals raised over US$100 million. This compares with 78 IPOs worth US$2.6 billion the prior quarter.

March 2009

• Back to basics approach needed for real estate companies to emerge stronger from the economic crisis 
  Zagreb, 24 March 2009
  It is no surprise that the continuing economic uncertainty throughout world markets and the lingering impact of a global credit crunch are seen as the greatest risks faced by real estate companies.

January 2009 

• Strategic opportunities for oil and gas transactions in 2009
  London, 26 January 2009
  The volatility in oil prices and overall financial markets created a year of two halves for the global oil and gas industry.
  Buoyed by a high oil price environment, in the first half of 2008 oil and gas deal activity was strong. However, the slowdown in the global economy resulted in fewer mergers and acquisitions (M&A) in the second half of 2008 resulting in 1,094 deals for 2008, down 29% from the record level set in 2007. The total value of oil and gas transactions for 2008 was US$179bn.
• Ernst & Young welcomes prospect of a global accounting language but warns that 2009 will be a critical year for IFRS
  London, 12 January 2009
  Ernst & Young welcomes the fact that, despite a difficult year for companies and global economies, the major capital markets of the world are moving ever closer to adopting International Financial Reporting Standards (IFRS) as the globally recognized accounting language. But 2009 will be a critical year in this process, and the challenges now faced must not be allowed to derail the significant progress made to date.