Restricts options for other distressed investment firms; Creditors approve Aref and Ayaan restructurings

Swiss finish boosts speculation; Credit Suisse, Barclays in frame

All Nigerian banks to benefit; Banks contribute to sinking fund

New FIG chief William Fall is building on bank’s DCM and structuring strengths; Bank sees business opportunity arising from its own traumas

The Federal Reserve’s first huge injection of liquidity surely helped avoid a horrible depression. The outcome of this second phase is more doubtful. If unemployment is structural, the Fed’s effort might be wasted. Worse, it might be inflating asset bubbles once again. Peter Lee reports.

December is a month for reflection: reflection on what has passed and what might happen.

As the G20 seeks to install a permanent resolution mechanism to enable burden sharing between the private and public sectors in any future financial crisis, investors and banks are in a state of flux. Pricing bank debt securities that convert into equity in times of stress is problematic, if they are investable at all. Hamish Risk reports.

When one bank pitched a fee of one one-millionth of a percent to be a bookrunner on the landmark Coal India IPO, every other lead manager had to accept the same level. Even officials at the issuer weren’t happy with the economics of the deal. But such is the way of Indian equity capital markets, as Chris Wright reports.

Despite attractive yields and improved turnover in a few prime markets, the European commercial real estate recovery remains tentative as supply and finance constraints continue to restrict activity. However, bright spots are emerging for funds that have been able to put the worst of the debt crisis behind them. Joti Mangat reports.

Nigeria’s impending dollar sovereign bond comes at a time when demand for African sovereign paper exceeds supply. African states are cautious about entering the capital markets despite the many good reasons for issuance. Nick Kochan reports.

There are welcome signs of a recovery of the US IPO market. But an underlying trend is the continuing decline in the number of market debuts by small-cap and technology companies. Is the entrepreneurial motor of the US seizing up? Helen Avery reports.

The pressure of money weighing on the high-yield and leveraged loan market has given rise to the kind of market excess that optimists thought would not be seen again for a very long time. Can the cycle really be set to repeat itself so soon? Louise Bowman reports.

All the global banks claim that their emerging markets businesses are among the most important drivers of revenue growth. Yet how committed are they? One way of assessing the seriousness of their claims is through the lens of their personnel. Sudip Roy investigates just how many emerging market investment bankers are reaching the top of the industry.

It is a business about volume and innovation, making Asia a prime target. Multinationals are investing to tap busy markets, while some of Asia’s leading corporates want to go global. Laurence Neville reports.

Bank postpones R$500 million issue; Other banks and corporates persist

Investor points to Uruguay, Dominican Republic; Bullish on Argentine sovereign debt

One year on from the revelation of Dubai World’s debt problems the emirate is looking to the foundations of its prosperity – its position as a trade, transport and services hub – for recovery. Can Dubai trade its way out of trouble? Dominic Dudley reports.

During the financial crisis big became synonymous with bad. But in pensions management super-sizing can seriously increase your wealth.

BR Partners breaks into top-five Brazilian advisers; Firm seeking investment banking licence

Clive Horwood, Euromoney’s editor, remembers one of the finest individuals – let alone bankers – he has had the pleasure to know.

Arminio Fraga and his partners have just sold asset management firm Gávea to JPMorgan’s Highbridge Capital Management. The deal for the Brazilian company is staggered over five years, and crucial to it is that Fraga will continue to lend his expertise for at least that long. Fraga talks to Rob Dwyer about the firm’s strategies, the deal with JPMorgan and Brazil’s economic prospects.

Development bank does not want to grow credit book; Bonds expected to take bigger role in project finance

Bank Leumi might soon have a new owner. But as the government sells its controlling stake in Israel’s biggest bank, Leumi might instead be left without any controlling shareholder. Dominic O’Neill questions the finance minister and central bank over the role of Israel’s banking tycoons.