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I am convinced that the outcome of the human tragedy of September 11 will be a gutsy renewal of solidarity and confidence, recently lacking in the US, on the part of Americans and foreigners.

Salomon Smith Barney moves back to lower Manhattan. Will other investment banking firms follow?

The new era of a diminishing treasury debt has been shattered with the events of September 11. Now, the US government appears to be preparing for a vast expansion of public spending, heavily affecting dollar-denominated debt markets.

In the August edition of Euromoney the Emerging Markets table of banks ranked by shareholders equity gave incorrect figures for total assets and asset growth for the Shanghai Pudong Development bank. The correct figures are $15,569 million and 28.67% respectively.

Two weeks after September 11, the sell-off in the Asian equity markets was unabated. Hong Kong’s Hang Seng was down 10.9%, Korea had dropped 10.8%, and Singapore had plunged 18.1%. And Japan’s Nikkei fell through the psychological 10,000 barrier. Chris Cockerill reports on what comes next

In the Netherlands, bankers anticipate that the final stage of the introduction of the euro will pass into history without a hitch.

Russia has been trying to climb out of economic isolation for the last two years. Now that economic isolation will act as a shield from recession caused by America's war in Russia's own backyard.

Belarus's small banking system has remained a sideshow during the tumult of recent years, while some of the most advanced of Europe's transitional economies suffer.

The markets were already jittery before September 11 but the terrorist attacks sent volatility soaring. The central banks poured money in to provide liquidity and cut interest rates, politicians made rallying calls to investors to help keep markets up and some hedge funds promised not to short stocks, while some lenders refused to make them available for shorting. Yet market forces prevailed: indices plummeted and then started to bounce all over the place. But some investors feel the worst is over and buying opportunities will abound.

As the dollar continued to weaken in the days after the attacks on the World Trade Centre, the euro inched up to 91 US cents, with some analysts predicting 98 cents or even parity. It has been a painful crawl back for a currency that required concerted central bank support a year ago.

While it has become clear that the combination of an investment bank and a commercial bank works, it may be a long and hard journey for Citigroup to achieve across-the-board success.

Lehman Brothers escaped across the river, its emergency relocation plan kicking in within minutes of the tragedy. Merrill did not fare quite as well.