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The Philippines has a robust consumer economy, fuelled by burgeoning remittances from overseas, so domestic banks have long offered one of the safest plays on the economy. Recent changes to banking regulations have further strengthened the case for the sector on fundamental grounds. Now fuelled increasingly by renewed takeover speculation as consolidation attempts gain traction, the sector looks set to outperform.

David Knott, the current chief executive of the Dubai Financial Services Authority, argues that Ian Hay Davison's account does not represent the status of the regulator, which is well placed to play an important future role in finance in the Middle East. Here he sets out the DFSA'S position

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

SocGen's move on big local player signals confidence in the run-up to Egypt's first open presidential election

Croatian oil company INA will undertake a 15% initial public offering by the end of the year. Existing 25% shareholder and Hungarian peer MOL is keen to raise its stake to enhance its strategic position in the region.

The Unico network of cooperative banks is nearly 30 years old. As it approaches middle age, can it persuade European debt issuers that the concept of a Unico deal that reaches both big and small investors across the continent is more than a neat branding ploy?

Eksportfinans hopes funding costs will plummet if online execution of structured products grows popular

Mexico has long been known for its big public companies: Televisa is the world's biggest broadcaster of Spanish-language programming, and wireless telephone group America Móvil has a reach that criss-crosses Latin America. But, with an illiquid stock market, Mexico falls short in providing financing for start-up firms that could be the region's Amazon.com or Apple, undermining the country's economic potential and shunning venture capitalists that are some of the most important providers of funding for small companies. "Mexico's problem is not a lack of capital or a lack of ideas, but a lack of local investors willing to take the necessary risks," says Howard Wallack, the recently appointed director of the Latin American Venture Capital Association (Lavca). "Mexico needs good business plans with the right people to execute them."

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.

Slow-paced reform and privatization look set to provide opportunities for foreign investment in the Libyan banking sector, but with a lot of provisos.

In 2002 the Dubai authorities announced the appointment of a distinguished chairman to its financial regulator that would give credibility to the country's attempts to establish itself as the leading Arab financial centre. Just two years later he was fired. Now, for the first time, Ian Hay Davison gives a first-hand account of the events that led to his dismissal. In the following linked article, the current chief executive of the DFSA gives his response

In just two years, Nigeria's finance minister has helped to transform foreign perceptions of her country. Her crowning achievement was the Paris Club deal, but her reforms have much greater implications for Nigeria's economic future.