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  • The accounting standards still used by most Russian banks are a hangover from the old Soviet system, revealing little about their health and bandaging up their infirmities. International investors want international standards. Banks and regulators are responding but full reform will take years. Antony Currie reports
  • UK merchant bank Robert Fleming is in dire need of a good performance in 1996. It's unlikely to get one. With thousands of new employees hired in a bid to extend the global network, revenues have not grown fast enough to cover costs. Shareholders are restless. Charles Olivier reports
  • Within the past year two of the most respected investment banking boutiques have been sold ­ Gleacher to NatWest and Wolfensohn to Bankers Trust. Do those deals mark the beginning of a trend and, if so, which targets are left? Stephen Neish talks to the main players
  • Executive director and head of European bond credit research, UBS
  • From lactation rooms to the high seas, with a lot of music in between.
  • Self-taught M&A expert Rakesh Saxena teed off a glittering career on Bangkok's exclusive Navatanee golf course. But he eventually helped drive Bangkok Bank of Commerce into the rough with a bunch of allegedly dubious deals. Five of Saxena's Thai associates are due to be tried for embezzlement and the Bank of Thailand is now trying to rescue BBC. Saxena made it away to Vancouver, where he awaits extradition proceedings. Meanwhile, he protests his innocence and hones his golf skills. Gill Maitland reports
  • Mexico, Brazil and Argentina have adhered to their structural reform programmes despite the side-effects ­ on growth and employment ­ in order to maintain investor confidence. But, David Pilling argues, high financing requirements could still lead them into difficulties. A sudden outflow of capital might result in default
  • The top 100 Arab banks
  • The top 100 Arab banks
  • The top 100 Arab banks
  • Antonio Fazio, governor of the Banca d'Italia since May 1993, has steered the Italian economy towards low inflation and further enhanced the central bank's reputation for independence.
  • Foreign investors are piling into Korea's stock market. But why? The country seems to have lost its competitive edge, the stock index has plummeted, and the country's corrupt practices have been exposed with the guilty verdicts on two former presidents. Overseas investors, however, are undeterred. They believe profits are there for those who can stomach the roller-coaster ride