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Boaz Manor, co-founder of Canadian $800 million hedge fund Portus Alternative Asset Management, says he doesn’t know what has happened to the $8.8 million-worth of jewels he bought with investors’ money, according to a lawyer investigating the fund’s failure. Manor is currently in Israel after fleeing there after his company’s meltdown. In total about $700 million has been secured after being found in 130 Portus bank and investment accounts in Canada, the Turks and Caicos Islands and the Cayman Islands, says the local press. Where the jewels are remains to be seen. Creditors meet in June.

Equity derivatives dealers have set up an industry group to improve trading efficiency and iron out operational issues in their market.

China-focused forestry company falls behind in land acquisition.

CEE Company ranking 2006: Home-grown state success stories

More than a few doubts have been raised about the rumoured plans of state lender China Construction Bank to buy a major stake in US investment bank Bear Stearns. However, sources in the firm’s Asian head office believe the plans are serious. “I haven’t seen a lot of guys with white socks walking around the office yet,” says a senior employee, “but there’s definitely truth to the rumour. It’s typical Bear strategy: late to the party, perhaps, but a smart call.”

No, you didn’t misread the headline. This year’s re-rating of the Philippines’ economy recently pushed short-term yields to four-year lows and even inside their US counterparts’ temporarily, according to ING. Could the unthinkable be happening? Might Asia’s perennial underachiever be about to turn the corner?

Looks to have got bargain with its $775 million purchase of spot broker.

In his last interview as director of public credit for Colombia, Felipe Sardi talks to Lawrence White about the strategies his successor will inherit, his efforts to increase the liquidity of Colombian securities and his plans for the federation of coffee growers.

Recent figures from Reuters’ Loan Pricing Corporation show that borrowers have it better in the US now than ever before. Strong growth in the M&A market meant that syndicated loan issuance in the US reached the highest volume on record in the first quarter of the year.

The ECB sets great store by the transparency of its decision-making process and the clarity of its communication with the outside world. ECB president Jean-Claude Trichet was reminding us of this again last month.

10,000,000,000 the minimum amount in dollars that Russian IPOs, excluding Rosneft, are expected to raise this year, according to bankers. The Russian government hopes to raise as much as $15 billion from a London IPO of Rosneft this year.

Is there enough room for both sorts of hybrid in the European acquisition finance market?