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While all eyes are on the birth of the euro, a region not so long ago written off is quietly rebuilding. In Thailand, interest rates are falling 25 basis points a week. The Republic of Korea looks likely to be upgraded as its current account swings from a 1997 deficit of $8.2 billion to a projected surplus of $40 billion in 1998 - a change equivalent to 16% of GDP. Even in Malaysia - where the situation is complicated by the regulatory environment - the stock market is booming. What they said could not happen is happening. Asia is exporting its way out of trouble.

Poll of Polls: Warburg's excellently average performance

Poll of Polls: Warburg's excellently average performance

Poll of Polls: Warburg's excellently average performance

Telecommunications: Ways to survive a sea of troubles

Poll of Polls: Warburg's excellently average performance

Chicago Exchanges: Working against the grain

The end of Jardine Fleming

Asset Management: Allianz wants other people's money

European Equities: The great equity rebalancing act

Asset Management: Allianz wants other people's money

To open a bank at any time is brave, especially in Russia. To have started trading in 1993 aged 23 while still at university, takes something special. Andrey Melnichenko studied physics at Moscow State University before starting up his own bank with four friends.