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  • In the July issue of Euromoney, an editing error led us to state incorrectly that Alfa Bank is a subsidiary of Austrian firm RZB. It is not. We would like to make it clear that Alfa Bank is Russian-owned and not a subsidiary of any foreign firm.
  • Politicians in the US and Japan are blaming the low value of the Chinese renminbi for all manner of economic ills in their countries and pressing for its revaluation upwards. Yet many of their own manufacturers are benefiting greatly from the low manufacturing costs in China. Speculators will win if the renminbi rises.
  • The start of the political season in Russia has capped the wild upswing in the country's equity market but not brought share prices crashing to the ground. Predictions of quiet growth based on a growing equity culture still seem apt.
  • The Central Bank Governor of the Year and the Finance Minister of the Year awards will go live on September 19. Visit the site then to find out who won.
  • Emerging markets are back. That's the conclusion of the latest quarterly debt survey by Emta, formerly the Emerging Markets Traders Association. In the second quarter of 2003, total emerging-market debt trading passed $1 trillion for the first time in five years.
  • Promontory Financial; Scalene Capital Management; USPowergen; Recovery Partners; Schechter & Co; Van Oss
  • As Duma and presidential elections loom, the two main Kremlin political factions are vying for control of Russia's development.
  • 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.
  • 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.