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The impact of global warming on agriculture is complicated. Although an increase in global temperatures of up to 2.5 degrees Celsius could help increase total agricultural production by improving growing conditions in some parts of the world, many of what are today the world’s poorest countries would experience a worsening of growing conditions and food security.

Commercial farmers have benefited from higher food prices but subsistence farmers in developing countries have missed out on the boom because they need to consume all their production themselves and do not have enough surplus to sell at market prices. Helping farmers in developing countries is crucial to increasing global food production and combating food inflation where it hurts the most. However, poor access to banking facilities is a barrier.

The greenback revival, driven by ECB recognition that the eurozone is faltering, will be sustained by the narrowing of the US current account deficit, the fall in the oil price and the US pursuit of a soft monetary policy.

Gulf firms raised a record $15.76 billion in rights issues from July 2007 to June 2008, a 242% increase on the previous 12 months. In the first six months of 2008, rights issues in the Gulf Cooperation Council states raised $11.9 billion from shareholders, according to research from UK law firm Trowers & Hamlins.

Questions abound over the future of the securitization business and the entire originate-to-distribute model.

Barely a day goes by without a new craze for so-called frontier markets in Africa being mentioned somewhere. But are the returns worth the fuss?

Georgia’s ill-fated attempt to prevent the secession of South Ossetia and Abkhazia is set to cost the country billions of dollars, but financial backing from western Europe and the US should help to ensure that the country’s economy remains one of the most open and business-friendly of the states that were formerly part of the Soviet Union.

Australian hedge fund Basis Capital is to pay $23 million to investors in two of its funds. The investors put their money into the funds in June 2007, the month investments were frozen because of liquidity problems. Because the money had technically not been invested until September, the investors were able to claim a full refund. Other investors in the struggling funds now being advised by Blackstone will suffer losses.

US long/short fund Andor Capital, spun out of Pequot Capital in 2001, is closing its doors and returning money to investors. The fund manages more than $2 billion in assets. Co-founder David Benton said in a letter to investors that he wanted to devote more time to his family and other interests.

Nigerian banks in London might be compared to the city’s famous red buses: you can wait an age for one to come along and then three or four appear at once. For 25 years there have been just two Nigerian banks in London, FBN and Union Bank of Nigeria. FBN was a branch of First Bank until it was turned into a full bank in 2002. It has a good steady business. “Not all bankers trust Nigerian risk,” says Peter Hinson, managing director of FBN Bank. “We act as a clearing house, for they take comfort from a UK payment.”

Brazilian banks: Santander/Real merger creates new battleground

The reintroduction of mandatory market-making in Pfandbriefe has not gone smoothly.