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Attention now turns to more complex Al Marai transaction

Achieving macroeconomic stability was the first objective of Nigeria's economic team, and in the past 18 months they have achieved significant progress across a number of areas – and that has not escaped the attention of the international community.

Mizuho has announced plans to establish a private banking company in Japan. The 70-person unit, Mizuho Private Wealth Management Company, will provide consulting services and various personalised financial products for clients with 500 million yen or more in assets. It will be a tough market to crack, however. A private banking market in Japan has never fully taken off despite attempts by both foreign and domestic players. Wealthy Japanese have tended to keep their money on deposit, while the banks have not focused on customer service. Even at a retail banking level, only now is there evidence of a service-oriented banking culture, led by Shinsei and Tokyo Star.

The International Swaps and Derivatives Association held a gala dinner in London in May to celebrate its 20th anniversary.

Republic of Colombia

It is not just American businessmen and tourists filling the seats of Thai Airways' new non-stop route between Bangkok and New York.

United Utilities

Some banks are already seeing an uptake from new buy-side clients

Republic of the Philippines

Stock markets are unimpressed by president's pro-business reforms

Investors snapped up the bonds on rarity value, as Germany went for an early deal

According to the International Monetary Fund (IMF), domestic bond markets help to foster financial stability, reduce inflationary funding, improve financial intermediation and assist governments in managing the effects of volatility in the international economic and financial system. Khaled Fouad, senior vice-president, merchant banking at TNI, says: "In the absence of a debt market, any crisis in the banking industry will have a spillover effect and would likely require the government to step in and assume the burden in order to prevent the financial system from collapsing."