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  • Significant new oil finds and the completion of several large liquefied natural gas projects will shortly give Egypt's hard-currency earnings a much needed boost. However, continued fiscal and regulatory reform is needed if Cairo is to succeed in creating sustainable and broadly based economic growth.
  • Country risk index: East Asia continues to lead the growth pack, but offers significant risk; Turkey is - once again - at a turning point; and Africa continues to be unsettled, but with less risk of inter-country contagion.
  • The murder of prime minister Zoran Djindjic and the ousting of central bank governor Mladjan Dinkic hurt Serbia's free-market reforms. Now the government's hopes lie in privatization.
  • In the wake of September 11, the US authorities targeted informal financial networks serving people in the Islamic world for particularly severe treatment. One of these was called Barakkat, a cash-transmission network that linked expatriate Somalis living in the US with their impoverished home country. Barakkat was closed down less than a month after the outrage, causing enormous stress to the large expatriate Somali community in the US and their families in Somalia.
  • A bull run in the Indian stock market is usually cut short by a scam, and then a collapse. Yet, this time the market regulator seemed determined to check market abuse even as the Bombay Stock Exchange Sensex index climbed close to the 4000 mark.
  • Raghuram Rajan, the new IMF chief economist, talks to Euromoney's Julian Evans about controlling special interests, IMF reform, and the difficulties of instituting market democracy in Iraq.
  • The pan-European asset management industry spends more than $9 billion every year managing and distributing product information, according to research by independent consulting firm SPB Marketing. Software company Activiti has created a product that it believes can help large fund managers to cut costs by up to $5 million by increasing the efficiency of the flow of information between firms and consultants and within the asset management firm itself.
  • Investors in the US need to decide which numbers to believe. Typically, statistics such as unemployment or capacity utilization are on average revised up or down by 30% within 12 months.
  • Promontory Financial; Scalene Capital Management; USPowergen; Recovery Partners; Schechter & Co; Van Oss