最大的前景在于企业和投资银行方面，而非贷款价格由储蓄银行设定的零售贷款。
The greatest promise lies in corporate and investment banking rather than in retail lending, where prices are set by Sberbank.
于是基金经理们可以宣称投资收益是来自于他们的智慧，而非源自整个大盘的上升，他们的客户也没法区分这两者的区别。
Fund managers could thus claim that a positive return was down to their own brilliance, rather than a general rise of the market, and clients could not tell the difference.
一些投资者表示，马多夫在担任受托资产保管人的情况下并没有任命外部管理人，因为他所经营的是一家经纪商，而非一只正式的对冲基金。
Mr Madoff acted as custodian of assets that were placed with him and had no external administrator because he ran a brokerage, rather than a formal hedge fund, several investors say.
而这些唯利是图的对冲基金留意的是他们自身投资者的利益，而非其交易股票 的投资者的利益。
These for-profit hedge funds look out for their own investors' interests and not that of investors in the stocks they trade.
对于我们这些想创立一间新公司而非找一个新工作的人来说，对风险投资和风险投资家的理解是很重要的。
For those of us who start a new company rather than look for a new job, it's important to understand venture capital and venture capitalists.
“这是股票，而非信贷风险”其中一位银行家说，“今天如果股票投资者把钱投给JLR，那他们就希望有40%- 50%的回报。”
"This is equity risk, not credit risk," says one: if equity investors were to put money into JLR today, they would want a 40-50% return.
但有分析师认为，相对而言，极少有投资者会仅仅因为美国的评级是AA +而非aaa，而被迫抛售债券。
But analysts say relatively few investors would be forced to sell simply because the U.S. rating now is AA + rather than AAA.
日用品涨价应被引起投资者的关注而非庆祝。
Higher commodity prices should be a cause for investor concern rather than celebration.
他说：“为安全、余度以及修复设定适当的投资额是一项管理事宜，而非技术事项。”
"Setting the proper investment level for security, redundancy, and recovery is a management issue, not a techie one," he says.
投资银行不是赌场，而应成为忠实的中介，金融中介是建立在客户关系，而非投机买卖或者短线交易上的。
Investment banking should not be about gambling but about honest Vermittlung, financial intermediation built on client relationships, not speculative trading or fleeting transactions.
一个银行的偿债能力取决于监管者和投资者的各自的判断，而非审计人员签字的一纸报告所能解决。
A bank's solvency is a matter of judgment for its regulators and for investors, not whatever a piece of paper signed by its auditors says it is.
由于要平衡公司股东、投资者与监管者（尤其对银行）各方间的利益，搭建的会计规则更像艺术而非科学。
The crafting of accounting rules is more art than science, thanks to the need to balance the interests of companies, their investors and—especially in banking—their regulators.
他们必须谨慎地面对其投资者，毕竟投资者是希望基金的服务对象是自己而非股东。
They will have to be careful not to upset investors in their funds, who want to see private-equity firms working for them rather than for shareholders.
股指期货的推出，使中国投资者首次可基于对整体市场将会下滑而非仅仅上涨的预期，而进行交易。
Futures will for the first time give investors in China the ability to make trades based on their expectations the overall market will fall, not just rise.
这个数学问题其实暗示着投资者目前要求的资本率为14%而非2006年中的10%的水平。
This arithmetic would imply that investors now require 14% capital rather than the 10% of mid-2006.
一些风险投资者指出，2011年与1995年类似，而非1999年：如果说泡沫正在形成，那它还需要很长时间才能破裂。
This has led some venture capitalists to argue that 2011 May be more like 1995 than 1999: if a bubble is inflating, it is a long way from popping.
日本商人大部分会把外来投资者看作贪婪的投机商，而非合作伙伴。
Japanese businessmen generally regard outside investors as greedy speculators rather than partners.
难怪有些投资者把高盛更多地看做威胁而非同盟。
No wonder some investors have come to see Goldman as more of a threat than an ally.
投资银行的坏处是让你迷信电子表格至高无上；公司是为华尔街而非客户而建。
Investment banking is bad because it leads you to believe that everything can be reduced to cells on a spreadsheet and that companies should be built for Wall Street, not customers.
今天这个笑话在新兴企业的投资者听来只会让他们感到挫败而非会心一笑。
Today that joke makes financiers of start-up companies wince rather than smile.
但今年年初，一家只负责铀贮存的公司NufcorUranium也在AIM上市，它允许投资人对其价格而非特定矿采工程进行下注。
But earlier this year, Nufcor uranium, a firm that simply stockpiles uranium, also listed on AIM, allowing investors to bet on the price, rather than on specific mining projects.
俄罗斯已经为国外投资者们在Angarsk兴建了一个铀浓缩工厂，可以用来分享利润和产品而非技术。
Russia has opened an enrichment plant at Angarsk to outside investors, who can share in profits and product but not technology.
投资者可以支付环境改造的前期费用，这笔费用将在20 - 30年内由住宅(而非现居住者)绑定的抵押保费付还。
Investors could pay the upfront costs of an eco-renovation, to be paid back over two or three decades by a mortgage premium that stays with the home rather than the current resident.
从性质上讲，股份公司是所有权的一种实现形式，所以我国现在公司的最重要的问题是投资者保护问题，而非利益相关者问题；
Stock company is one realization form of ownership and therefore currently the most important question faced by Chinese companies is how to protect investors rather than stakeholders.
从性质上讲，股份公司是所有权的一种实现形式，所以我国现在公司的最重要的问题是投资者保护问题，而非利益相关者问题；
Stock company is one realization form of ownership and therefore currently the most important question faced by Chinese companies is how to protect investors rather than stakeholders.
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