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European borrowers make peso bonds hot new instrument

Studying the birth chart of the US shows planetary patterns coinciding with upheavals and depressions in the country's history – and in his new book, Robert Gover predicts a decade of depression ahead. Helen Avery looks at this alternative approach.

THE PARIS CLUB has gone through fundamental change over the past year. First it agreed to an enormous debt reduction for Iraq, then it started to allow debtor nations to buy back their debts. Most recently, it came to a long-awaited and ground-breaking agreement with Nigeria that involved elements of both debt reduction and buyback.

Iraq's finance minister, Ali Allawi, argues that debt relief with its official and commercial creditors is crucial to restoring stability to the country

Tanzania's largest bank is sold to Dutch-led consortium

Research points to declining returns and greater risk as hedge funds grow older

As Lebanese banks flush with liquidity devise regional expansion strategies, four of them have won licences to open affiliates in Syria's nascent privately owned banking sector.

A new family of volatility indices that will track the Dax, Stoxx, and SMI equity indices will launch this September.

The price of oil might be heading towards $100 per barrel but that doesn't seem to be blunting some bankers' appetites for fuel-guzzling vehicles. Nor is their ability to make money necessarily linked to good taste when spending it, as evidenced by the recent purchase of a stretch Hummer by London-based Citigroup managing director Valentin Ehmer.

CMBS Debate: Getting real estate financing right

Russia's domestic wealth management industry has a long way to go

Differential guidelines by Japanese regulators might provide room for accounting arbitrage. Japanese accounting rules have required banks and non-life-insurance companies to mark to market their portfolios since April 2002. However, the prefecture/locally run pension funds (such as those of Hokkaido and Saitama), and life-insurance companies (such as Nippon and Dai-ichi, or the Policeman Retirement Fund, and the Fisheries Association Fund) are not yet subject to the mark-to-market requirement. Market sources indicate that had it not been for such accounting arbitrage, it would have remained inexplicable why the local municipality pension fund of Hokkaido held a sizable amount of defaulted Argentine yen paper.