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Following a survey undertaken in 2003 by GTNews, the online global resource provider, only 26% of senior finance professionals expressed a firm belief in their ability to accurately forecast their up-coming cash flow positions.

The Argentines had fun at the IMF/World Bank meetings in Dubai. First off they secured a $12.55 billion three-year standby credit from the IMF - enough to keep the country current on debt service to, well, the IMF. This was controversial enough, mainly for the near total absence of conditions to which the agreement holds Argentina's government, beyond that of running a 3% of GDP primary surplus in 2004. "It's not a dollars and cents programme," said a rather defensive Anoop Singh, director of the IMF's western hemisphere department.

IPO fever is yet to sweep the equity capital markets, but there has been a marked upturn in other types of issuance, putting pressure on banks' depeleted ECM division. Some are rehiring, but can the revival be sustained?

The arrival of a new clearing house in Spain challenges the balance of power in Europe. Can it succeed against competitors such as LCH.Clearnet that are pushing for a horizontal solution?

As the rugby World Cup gears up for its big kick-off, one former star is settling into his new job in the far more aggressive world of inter-dealer brokerage.

Some of JPMorgan's foreign exchange staff in London were bound to be unnerved when they heard that the big cheese from New York was moving across the Atlantic.

Source: www.breakingviews.com is Europe's leading financial commentary service.

The race to take market share in the fast-growing area of credit default swap indices is gathering pace.

Source: www.breakingviews.com is Europe's leading financial commentary service.

FOR THE PAST 10 years investors have looked on with incredulity at the inaction of those charged with directing the Japanese economy, particularly the banking sector. For while it is plain that it needs comprehensive restructuring, nothing seems to get done. And as long as fighting between political factions of the ruling Liberal Democratic Party persists, and decisions and plans in the banking system are driven by self-interest, nothing will change.

How to pay for research is one of the toughest riddles on Wall Street. The challenge, says Smith Barney's director of global research, Bill Kennedy "on a global scale as well as in the US, is to take the talent we have and find a way to package it that is both investor-friendly and commercial".

The explosion in demand for telecoms services in sub-Saharan Africa is having a knock-on effect on the region's capital markets. Uganda Telecom, for example, recently set up a USh54 billion ($27.35 million) secured medium-term note programme. It is one of the first local-currency MTN programmes to be listed on the Ugandan Stock Exchange, and the first secured bond issued by a Ugandan company.