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Chase: Back in the bulge-bracket

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.

What happens when you get Australian bankers on a beach for a barbecue? Euromoney invited five of Australia's top debt market professionals to Nielsen Park beach to find out. Steven Irvine put some prawns on the barbie.

When a Wall Street law firm was asked to advise on investing in Hungary in 1989, it fell to Douglas Rediker, then a 30-year-old attorney, to do the research. "When we asked the opinion of a Hungarian lawyer," Rediker remembers, "we'd get back a hand written note saying: 'Dear Mr Rediker, It is okay to do what you ask.' It didn't give us a whole lot of comfort. On the other hand it was quite intriguing."

Last August's banking crisis in Russia had a differential effect. Big players heavily committed to the government bond market were hardest hit, smaller banks with less exposure not only survived but have picked up new clients. Ben Aris reports

Macquarie Bank is a rare type of investment bank. It has made returns on equity of over 20% for 10 years by constantly moving into new business areas such as property securitization. Steven Irvine meets its managing director Allen Moss - a man who eschews ostentation and wears pens in his pocket - and head of infrastructure and asset group Nicholas Moore.

If you were trying to scupper the career of an over-zealous colleague, this is the sort of financing mandate you might want to throw in their direction: first, make it a commodity deal (preferably not oil which is suddenly showing signs of revival); second, set the deal in a developing country, at a time when emerging markets are out of vogue, and local currency financing is scarce. Finally, throw in a little political difficulty, such as the arrest of a former president, which leads to fighting on the streets and the threat of trade sanctions.

Turkey: Sustaining the unsustainable

Bond Trading Poll: Emu shuffles the rankings

After so many years of gloom is there at last a glimmer of light in Nigeria? Following February's presidential election, the country's prospects for inward investment and economic stability have seldom looked brighter. Recent activity in the capital market may hint at economic improvement ahead. But fearsome problems remain and fast-track growth is still some way off. Philip Moore reports

Credit Research poll results: Moving down the credit curve

There aren't many real ex-rocket scientists for hire, but another area investment banks might look at is nuclear engineering - a skill that's becoming less sought after these days. Merrill Lynch's affable new hire Dante Roscini spent five years designing nuclear power plant before dwindling enthusiasm for the nuclear industry prompted a rethink. After business school he ended up at Goldman Sachs in 1988.