The country’s model of financing relentless consumption from dwindling oil revenues is under attack from all sides. Covid-related credit relief has hit the banks’ bottom lines and they are joining the call for diversification.

The implosion of Archegos has ripped away the veneer of conservatism and safety that the family office has long enjoyed. It has also emphasized the lack of clarity about what the industry is and its lack of oversight.

Kentaro Okuda had been delivering. Nomura was reporting strong and sustainable profits, with a streamlined international business driven by trading in the Americas. Then came Archegos.

The UAE was already a fintech pioneer but Covid turned it into a leader. Banks and government agencies are furiously rolling out blockchain-backed services that do everything from seamless KYC checks to detecting fraud in supply chain financing.

The storms buffeting Credit Suisse represent big trouble for the Swiss bank. Its new chairman may install a new CEO and set a new strategic course, but with big European banks gearing up for consolidation, Credit Suisse just put itself on the block.

With Deutsche Bank apparently turning its fortunes around globally, expectations are high for Asia to deliver growth at the fastest rate of all its operations. Asia CEO Alex von zur Mühlen tells Euromoney he wants to use the bank’s footprint and diversity of revenues to get the job done.

As US Spac deals start to slow after an extraordinary first quarter, any new growth must come from outside the US