An escape route for Turkey's Yapi Kredi

Now enjoying the third year of a recovery that is clearing away the debris of the 2001 crisis, Turkey's bankers are hoping soon to complete the final important clean-up operation: resolving the on-again, off-again fate of the fourth-largest private bank, Yapi Kredi.

Romania's banks fight for the middle ground

With lending to small and medium-size enterprises and the provision of retail products the fastest-growing and most lucrative parts of Romania's financial services sector, banks are slogging it out for market share.

Saudis buy into an equity culture

Growing liquidity derived from high oil prices, less restrictive regulation, a drive to privatization and a reduction in investment abroad have driven the Saudi Arabian stock market to new heights

Spain's companies face accounting test

Until the advent of the European IAS39 accounting standard at the beginning of the year Spanish reporting requirements for derivatives were relatively relaxed.

Foreign banks target Serbia

Foreign banks are racing to enter the Serbian banking market, one of the few in eastern Europe that still has large assets up for sale and strong potential for growth.

Premiere's must-see IPO

Having recorded a loss of €1.5 billion in 2001 and been bought out by Permira in 2003, pay-TV operator Premiere has now completed the most successful IPO of a Germany company since 2000

CIMB looks to regional expansion

Virtually unknown outside its native Malaysia, investment bank Commerce International Merchant Bankers has rapidly consolidated its domestic dominance.

Telecoms fuel a new M&A boom

Analysts were convinced of the inevitability of US telecoms consolidation but the recent flurry of M&A activity was a surprise.

US bid boosts Europe

A record start to the year in European equity capital markets has been helped by strong fund inflows from the US.

Yet another gold rush

A handful of high-yield bond deals from Chinese issuers in the past six months seems to presage vast hitherto untapped issuance.

Wake-up time for Portugal

Portugal's banks have got to grips with the pressures of EU membership much more effectively than the economy as a whole, which has depended on ad hoc measures rather than fundamental structural change to keep on course.