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Mexico's bourse looks more like a battleground these days than a financial market.

Six months ago, Peru might have been in bad shape, but at least the future looked bright.

Still convinced that their ailing currencies are sick because of the attentions of speculators, Asean finance ministers have agreed a fund for mutual defence through forex market intervention. Most bankers reckon the $1 billion put in the pot is a derisory amount to cope with what is anyway a misdiagnosed condition. Beyond that there’s disagreement on whether Asean currencies have bottomed out or have further to fall.

Turkey has been suspended on the brink since February 22 when the government floated the lira and ended the 14-month stabilization programme supported by the IMF. The new programme has not been finalized and until it is Turkey will drift in semi-darkness.

The hospitality and tourism industry is one of the biggest in the world, with fierce competition between hotels and airlines to persuade the much-prized business traveller to stay or fly with them. What differentiates the hotels and airlines that these much-sought-after business customers regard as the most desirable? Euromoney polled executives at 115 institutions from all over the world on their favourite hotels – city by city – and their favourite airlines.

The European market for collateralized debt obligations is set to grow significantly this year. This promises to be an area of intense interest for US and UK structured finance lawyers.

Despite having left their previous jobs under controversial circumstances and with no performance track record to call their own, Nicola Horlick, Keith Percy and John Richards have turned SocGen Asset Management into a force in UK fund management in just three years. The results to date are impressive, with nearly all targets reached and 71 mandates under management totalling nearly £7 billion of assets. However, despite their protestations to the contrary, marketing the business through the personalities of the individuals, particularly Horlick, has left many with the impression that it is a top-heavy star firm. Horlick and co are striving to shake off this image as they push towards their next target of £20 billion.

The rapidly evolving credit default swap market advanced a few steps this month when the International Swaps&Derivatives Association (Isda) reached a breakthrough agreement on restructuring. Its amendment states that when a default swap is triggered by a restructuring event the maximum maturity of the obligations the buyer of protection can deliver to the seller is 30 months.

After the initial shock following the announcement in March that both Carol Galley and Stephen Zimmerman were to retire this year, it turns out that very little has changed.

Ever since the first sod was turned on the site, the $1.25 billion Chandra Asri petrochemicals plant has been trouble. For 10 years an icon of Indonesia's problems with corruption and cronies, the project was set up jointly by Bambang Trihatmodjo, second son of former President Suharto, and his close friend Prajogo Pangestu, an ethnic Chinese timber tycoon.