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The problem with anything Japanese is that it all depends on your point of view. Three Japanese groups fail with more than $10.4 billion worth of debts. Tokai bank has just announced that it will forgive more than $3 billion worth of debts. Shareholders - other banks - in LTCB will get nothing from last year's forced nationalization. And Nomura - once the flagship of Japan's financial services industry - has recently announced losses of $4.6 billion, has been downgraded to junk status and has said goodbye to Max Chapman, the chairman and chief executive of Nomura Securities International.

Turkey: Sustaining the unsustainable

Turkey: Sustaining the unsustainable

Turkey: Sustaining the unsustainable

Chase: Back in the bulge-bracket

To paraphrase American satirist PJ O'Rourke, if you buy yourself something with your own money, odds are that you'll spend time making sure you get exactly what you want. If you spend your own money on something for someone else, you won't be quite as careful. But if you're given money by one person and told to buy something for someone else, you're likely not to be careful at all.

EBRD: Losing other people's money

Euromoney has once again ranked the world's best hotels, airlines and airports according to the preferences of senior executives across the globe. Which are the world's favourite hotels for business travellers? And which airlines should you fly with and which should you avoid? Research and report by Carolyn Dowd.

Pfandbriefe: Germany's secret gamblers

Despite persistently high inflation and international financial turmoil, the Turkish economy continues to defy gravity. The country's banks lend to the treasury in lira at high interest rates. As a result, they can offer attractive interest rates on foreign currency deposits too. Armed with a fictitious $50,000, Metin Munir finds out just how good these rates can be and explores the role played by the banks in propping up Turkey's "unsustainable" economy. By Metin Munir.

Operas at the Arena, day-trips on beautiful Lake Garda and romantic walks under Juliet's balcony. These could be the new pastimes for IMF staff and officers in a few years, if the mayor of Verona succeeds in getting the organization's HQ moved there from Washington.

The Philippines began to woo a new set of investors in February with the launch of a euro-denominated bond. The issue is not without its critics and it was made amid mixed reviews from bankers of the country's efforts to pull itself out of the Asian crisis. Gill Baker reports.