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Other central bank governors may lead a sedate life, contemplating the economy through half open eyes and jumping into action once or twice a year to notch the prime rate up or down by 25 basis points before they go back to watching the fiscal grass grow. Not Turkey’s Gazi Ercel. Metin Munir reports.

The last of Poland's large commercial banks to be privatized could prove to be the most troublesome.

When hurricane Mitch washed away the bridges, houses and crops of Honduras two years ago, many of its banks remained open and the staff at the finance ministry came into work. The authorities wanted to give a message: business as usual. The economy survived the devastation and recovery is now under way. But Honduras had to seek help from the multilaterals and the Paris Club. And that comes at a price, reports Nick Kochan

Asia’s equity markets have seen their fair share of triumphs and disasters in the past 12 months, with technology stocks still baffling market watchers in some markets and seducing them in others.

A run on Romania’s biggest bank was stopped in its tracks. The episode highlights nervousness in the system as banks are being readied for sale. Some on the inside say the situation’s not so bad as it looks and that the supervisors are getting tougher. But foreigners are still asking a host of questions, as Erik D’Amato reports.

For a major Czech bank, Investicni a Postovni Banka was deeply untransparent. Bank analysts, auditors and central bankers tried in vain to map the labyrinth controlled by vice-chairman Libor Prochazka. They didn’t much like the bank or its emphatically non-strategic partner Nomura. So, when catastrophe hit IPB in June, the government stepped in heavily and maybe did the wrong thing, for the right reason – or vice versa. Was this the best way for an EU candidate to reform its financial sector? David Shirreff reports

To date, most Arab countries have been insulated from outside pressure due to highly protected markets and huge oil reserves. But foreign competition is set to increase, especially for markets joining the World Trade Organization. The biggest banks in small countries will have to look outside their domestic markets for growth, either through acquisitions or alliances. Darren Stubing reports

Taiwan avoided the excesses of Asian equity market euphoria last year and has escaped the worst of the stock market corrections in 2000. Some imaginative plays have helped it to the top of the Asian primary equity market this year. But even now concerns about a slowing economy, political uncertainty and a fragile banking system have many analysts believing the market has peaked for Taiwan issuers. Gill Baker reports

Driving through the imposing gates of Film City on the outskirts of Hyderabad is like stepping into another world.

Remember how the internet was going to put securities firms out of business? It isn’t happening yet. Never before have investment banks made so much money from international capital markets. Volumes are rising across all categories. Underwriting fees are holding steady. And lucrative areas such as capital instruments, leveraged finance and securitization are bursting into life. Meanwhile, the equity markets have been a thrill-a-minute roller-coaster ride. But times aren’t as good for issuers and investors. As prices slide, bond and equity buyers alike have lost money. And issuers have had to jump through hoops to complete deals in crowded and volatile markets. Michael Peterson reports

Chief executive, BondClick

At the Golden Tiger (U Zlateho Tigra) in the back streets of old Prague on a Sunday in midsummer there are no tourists. The schoolroom benches along the back wall resound to the din of Czech voices, leaving no space for the casual visitor to squeeze in.