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President of Panama’s Bolsa de Valores expects new exchange to be created next year.

Colombia’s financial institutions continue to be in good shape. They expect record profits for 2008, despite the global turmoil. For the first seven months of 2008, the Colombian banking system reported a net profit of $1.43 billion, a 30.9% increase on the same period in 2007. "Last year was a record year for Citi Colombia in terms of profit and growth, but we expect to close this year with even better profit growth rates," says Francisco Aristeguieta, country head of Citi Colombia and head of the Andean region for Citi.

One deal apologists for Lehman Brothers might not cite was its raising almost $300 million for an island nation of just 80,000 people. Indeed, the Seychelles looks a likely candidate for the title of Africa’s first sovereign Eurobond defaulter of the new millennium.

For so long seen as a banking backwater, cash management’s time has come. Revenues are high-margin, stable and growing. Products such as liquidity management will only grow in importance. And, with the huge client bases involved for the biggest players, it’s a gateway into a lot of other business. Laurence Neville reports.

Cash management: Cash captains see their ship come in

The Lehman Brothers website, may have provided a little insight as to why the bank collapsed last month. According to the Life at Lehman, People section of the website, one employee called Margot at the bank was surprised she made the grade:

When a bank is huge in a particular market, the cost can sometimes be a lack of agility. Success can breed complacency, and a market-leading position might lead to a certain absence of ingenuity and a danger of getting set in one’s ways. Citi, this year’s – and last year’s – overall Euromoney Cash management poll winner, runs no risk of hubris despite its vast scale and huge commercial success.

As the financial turmoil claims its latest victims, holders of covered bonds see the strength of their investments.