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If a market is mature when its founders move on, the Czech Republic has Finally come of age. Richard Wood was one of the First expatriates to arrive in Prague after the fall of the Berlin Wall and built from scratch the internationally respected stockbroking Firm Wood&Co. But ever alert to the prospects for exciting times and doing business, Wood has recently moved to Istanbul.

The increasing pace of developments in both the syndicated loan and the debt capital markets

We are not quite at the end of the current equity market correction. The next few months may be volatile or downright violent. But I'd start buying into any downturn in US and European stocks right now - particularly in traditional economy sectors where smart management can apply cyber-magic to the benefit of shareholders.

Traditional institutional fund management no longer holds much appeal for Prudential. Earlier this year the UK insurer sold off its pension fund equity business - some £11.5 billion ($18.5 billion) of assets under management - because it was not turning enough profit.

After the fanfare of the meeting between chairman Kim Jong-Il and president Kim Dae-Jung in Pyongyang in mid-year, moves toward a closer relationship have been slow. North Korea’s Tokyo-based unofficial spokesman, Kim Myong-Chol, has predicted peaceful reunification of Korea within five years. It might happen. But the road to unity will be longer and harder than was the path to German unification, finds Kevin Rafferty

At some point the government plans to privatize the Hong Kong Airports Authority, and is expected to give it more attention once it has sold off the Mass Transit Railway Corporation (MTRC).

Securitizing whole companies may be seen as the future of securitization in Europe, but so far only a few examples of this technique have taken place – and most of them have been in the UK pub industry. What is it about UK drinking dens that makes them so suitable for securitization?

The ebb and Flow of the Asian debt and equity markets in the past three years has inevitably brought upheavals in investment banking in the region, and it looks as if there are more to come. Avinder Bindra, Citibank's outgoing head of global loan products of Asia, Japan and Australia, foresees continued consolidation among banks, with the number of loan arrangers already diminishing because of mergers involving Chase and Chemical, Deutsche Bank and Citibank. Twenty years ago there were 20 loan arrangers on the scene, now there are eight or 10 globally. There are tentative signs of the Japanese banks coming back into the Asian market and rebuilding assets. "Competition is there for banking lending that would not have been the case a year ago," says David Russell, executive director for debt capital markets at Nomura International in Hong Kong.

Financial talent is hard to come by these days, as any headhunter will confirm. And it can be even more difficult to keep. Case in point: Ricardo Hausmann, until recently the Inter-American Development Bank’s chief economist. Hausmann joins the Harvard faculty this month. But don’t expect him to be saying many good-byes. The international financial community seems bound to hear quite a bit more from this dynamic player. Hausmann shared some of his characteristic all-or-nothing views with Euromoney’s James Smalhout as he was packing his bags for Cambridge

Membership of the World Trade Organization has taken China 14 years of campaigning. It's almost there.

The collapse of the Sogo department store, the largest bankruptcy of a non-financial corporation yet seen in Japan, is significant in two important ways. It shows the fragility of economic recovery. Persistently slow growth may leave many more Japanese companies at risk and the country’s banks may suffer more bad debts. Second, it shows the old conservative consensus breaking down. Shinsei Bank, the old LTCB under new American ownership, refused to play along with a bank-led bail-out. And when politicians attempted a public rescue, an angry populace shouted it down. Painful corporate restructuring is at hand, reports Kevin Rafferty

Equity capital market bankers are in a state of shock. It’s not simply that their market has seen record volumes of issuance this year. It is rather that the international equities market has gone through an entire lifecycle of change in less than 12 months. Michael Peterson reports