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Showing the new face of Asia

The recent fall in oil prices might once have spelt disaster for the Saudi Arabia's banking sector - slashing government revenues and weakening banks' asset quality. But this time the authorities seem well prepared for the current wave of economic turbulence and the banks are optimistic of riding out the storm. Michael Peterson reports.

It must be perpetual but it doesn't have to be for ever. It has to feel like equity but look - to tax authorities - like debt. Defining banks' core capital is one of the thorniest issues facing bank regulators. Antony Currie reports on the squabbles over what fits in the tier-one category.

Our annual ranking of the biggest banks in Asia outside Japan shows little change among the top 10. But further down the list, banks in countries such as Korea and Thailand have suffered sharp falls. Fitch IBCA supplied the data for the Asian 100 and the Japan 50.

Japan 50: Japan's unsteady giants

Japan 50: Methodology

Which are Asia's best regarded companies? Our annual poll of analysts reveals a few surprises. Some Indonesian firms do well, but Hong Kong's banks and trading houses remain in a league of their own. Research by Alejandra Ruvalcaba.

Continental European equity markets have rallied hugely since the US Federal Reserve began to cut interest rates. It's an opportunity to sell.

They are educated in the west. They are fluent in the language of reform, privatization and transparency. They are charming and open. The crisis in Asia has thrust forward a new generation of bureaucrats, regulators and ambassadors for the region. Is this a new approach to government in Asia or is the region simply becoming better at presenting itself?

Solid performers that buck the trend

Ecuador's bankers are scratching their heads wondering how to design products to accommodate a radical new 1% tax on capital transactions, which from January will replace traditional income tax. The tax will be withheld from bank customers whenever a deposit is made into an account or for a fixed-term investment, or when a cheque is cashed. Customers will not be charged, however, when money is withdrawn from an ATM. It is feared that the tax will lead to further distortions - the financial system already has a huge quantity of transactions that don't always provide added value but which are operationally necessary - and to tax avoidance by conducting transactions outside the system, says analysts.