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Japan's stock market has problems enough but the country's convertible bond market faces challenges of historic proportions. Once a premier source of funds for capital-hungry Japanese companies, the market has shrunk to a mere capital-markets sideshow, with the market index staggering ever downwards. Now the sector is returning to unwelcome prominence. The market faces colossal redemptions in fiscal 1998, amounting to ¥4 trillion ($30 billion). Efforts by some lowly rated issuers to scrape together the necessary funds to repay maturing convertibles - a burden they never expected - may become quite desperate, since these companies are already feeling the effects of a Japanese credit crunch.

Greeks have a high tolerance of political risk, which should give them an edge when competing for business with their volatile neighbours. Hoping to enter monetary union in the second wave, Greece is set become a powerhouse in "its natural backyard". Rebecca Bream reports.

Euromoney polled heads of Eurobond and government bond trading, asking them to nominate the top three houses for trading bonds in specific markets. We received 55 replies in total.

FX Poll 1998: The Results

FX Poll 1998: The Results

FX Poll 1998: The Results

Difficulties at one Middle East bank have focused attention on a fast-growing sector of the finance market. Islamic banks used to be simply places for those with strong religious convictions to deposit their money. Now, as Nigel Dudley reports, these institutions want to grow internationally, get into new business areas and compete for non-Moslem customers. International firms such as Citibank think the sector is attractive enough to set up their own specialist operations.

FX Poll 1998: The Results

Decision time for Brazil's top bankers

FX Poll 1998: The Results