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  • Senior executives tremble when McKinsey and Co comes in to examine a bank - its consultants' fixation with the bottom line is legendary. But is there as much myth as substance to the reputation? Michelle Celarier examines the performance of those high-flyers who've left the consultancy to occupy top positions in banking and the McKinsey philosophy they bring with them.
  • Edited by Brian Caplen
  • While rising oil prices are easing Saudi Arabia's immediate economic problems - a deep budget deficit and depleted foreign reserves - the country needs to make structural changes, cut spending and create new jobs to reduce its dependence on volatile oil. Norman Peagam looks at the task confronting a new team of western-educated technocrats
  • The Italian market is springing to life. Recent successful high-profile issues and a well-managed privatization programme have whetted investors' appetites. Small and medium-sized companies which have gone to the market have seen spectacular gains. But while Italy's stock market is ready to boom, problems remain with Italy's banking structure and corporate governance. Peter Lee reports
  • Securities regulator the CSRC was set up in 1992 to bring order to China's new and frenetic securities markets. But its attempts to impose discipline have met with mixed success. Turf battles with other authorities, political agendas that take precedence over market-based listing criteria and high-profile departures have made the regulator as raucous as the markets it was supposed to tame. Sophie Röell reports
  • German repo-traders are besieging the Bundesbank with complaints that its minimum-reserve requirement is killing their business. But, asks Laura Covill, will things get any better if the Bundesbank relents?
  • This year, Euromoney's Awards for Excellence are broader in scope than ever before. A number of new categories have been introduced to reflect changes in the structure of international markets.
  • Twenty-five year veteran of the capital markets Hans-Joerg Rudloff and his 18-month-old investment bank MC Securities have given up their independence. Rumour had it that it was a consequence of disaster for the bank in Russian markets. Looking deeper, though, it seems more like a victory. Steven Irvine reports
  • Chief executive, Credit Suisse Financial Products
  • A special report prepared by Deutsche Morgan Grenfell
  • Mandarin Oriental Hotel, Hong Kong
  • At the heart of the current dispute over ex-Yugoslav debt is an old legal chestnut: joint and several liability. The litigation is as confusing as the civil war, but at least it is being fought in the courts. By Christopher Stoakes