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Outstanding contribution to finance: Dr Sri Mulyani Indrawati, Indonesia

David Puth, the former head of FX and commodities at JPMorgan, has resurfaced after nearly two years out of the market. He has been appointed to the new position of head of investment research, securities finance and trading activities for State Street. He will report to Jay Hooley, president and chief operating officer of the Boston-based bank and will sit on the company’s operating group. Puth spent many years at what was originally Chemical Bank, going through several mergers and takeovers to end up at JPMorgan. After he left the bank in November 2006, he founded risk management and advisory group Eriska; he also joined Icap’s board as a non-executive director in November 2007.

Weak infrastructure is probably the single biggest obstacle to emerging nations fulfilling their potential. Infrastructure shortcomings in Latin America and Asia are well documented but even in the Middle East, a region flush with petrodollars, more investment is required, especially from the private sector.

It is a sign of the times that, as investment banks in the UK and US downsize, those in the Arab world are doing the opposite.

East Timor’s finance minister Emília Pires knows that wise investment of its $3 billion fund is crucial to the country’s poverty-stricken population.

The spectacular growth of Middle Eastern markets is attracting new ventures of all sizes. But smaller, more specialized firms are increasingly popular. Jethro Wookey reports.

Banks in central and eastern Europe are still posting results that laugh in the face of the credit crisis. But bad – or at least worse – times might be just around the corner for some. Charles Piggott reports.

Yes, Palestine has a stock exchange. And the remarkable thing is that it has stayed open consistently since its launch in February 1997. It’s not the biggest bourse in the world – 38 stocks and a market capitalization of $3.1 billion – but it lodged a claim to fame by being the world’s best-performing stock market in 2005, returning 306%. Up 30.8% in the first six months of 2008, it’s one of the world’s best performers.

China’s finance minister has had a difficult first 12 months in charge, but has succeeded in maintaining the country’s economic momentum.

New governor Boediono has to put the central bank back on track as a corruption trial looms over a previous incumbent.

Many banks will become less-levered, more conservative, far duller institutions promising much lower and more utility-like returns to investors

Continuing problems are forcing firms to reconsider market timing, the balance between public and private funding and the importance of neglected sources such as retail and corporate deposits. Six specialists debate the issues.