Project finance has been hampered by misperceptions of its riskiness — among bankers and regulators alike. Although its risk-return profile is better than vanilla corporate lending, the Basle II risk proposals could weaken the market further. Paul Ashley of Oliver, Wyman looks at the threat and possible solutions.

Italy’s finance minister, Giulio Tremonti, is engineering major changes in the management of the country’s assets and liabilities. His goal: tax and spending cuts. Can he pull off this double feat? Probably not, but positive things may still emerge from his efforts.

Russia

Energy derivatives

Bank restructuring

Australia's largest brothel, the Daily Planet in Melbourne, is aiming to pick up investors by offering the public the chance to buy shares as well as sex.

Shareholders of Norwegian insurer Storebrand are disenchanted with DnB after it dumped the company at the altar. Did management lose its nerve as the merger loomed or is there more to it?