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  • After a number of false starts, Egypt ­ among the best performers in the emerging markets ­ is undertaking major economic reform. But despite a diverse economy and sound macroeconomic indicators, foreign aid still outstrips foreign investment in the country. Nigel Ash reports
  • The great shake-out in European banking has barely begun. But driven by poor returns, overcapacity and fierce competition, a major consolidation in the banking sector is inevitable. First it will happen within country borders and then more slowly across them. Peter Lee reports on the coming turmoil
  • Former head of Asia capital markets, Jardine Fleming ­ Hong Kong
  • Last month the second biggest bank in the world, Crédit Agricole, bought 53% of Banque Indosuez for Ffr6.3 billion. In theory this is its first down-payment for a passport to global investment banking. But don't hold your breath. Crédit Agricole is a slow mover and Indosuez is not so much an investment bank, more a nest of vipers. David Shirreff reports
  • Since independence in 1980, Vanuatu has established a reputation as one of the most stable Pacific island countries. Its government is now promoting the islands as a tourist destination and offshore financial centre. Ben Davies reports from Port-Vila
  • Jewish organizations have long urged a full search for orphan funds deposited in Switzerland by victims of Nazi persecution. Right after World War II many accounts were located. But Swiss bankers, with their obsession for secrecy, have failed to convince the world that they have tried hard enough since. Now they've signed an agreement that may clear more of the fog. Stephanie Cooke reports
  • They are the sons and daughters of aristocrats and capitalists who fled the Bolsheviks in 1917. They all know each other because they're from the same small town in America. But they've returned to Russia to work in its capital markets. For some it's a homecoming; for others it's simply an opportunity to exploit a language skill. Steven Irvine reports
  • Small lenders count too
  • A handful of the world's top financial institutions have not one regulator but many, spread over diverse products and markets. These regulators, scared by Barings, Daiwa Bank and other disasters, are trying to plug holes in the supervisory net. But it's a tough job to coordinate oversight and to ensure that at least one supervisor has the full picture. David Shirreff reports
  • STEVEN IRVINE
  • Europe faces fundamental change. This survey looks at some of the uncertainties. Will the single currency collapse? How will Europe's central bank work? And can bureaucrats bridge the gap between rich and poor countries? Introduction by Nigel Dudley