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Mizuho Corporate Bank and its German subsidiary have together bought a Russian bank, Michinoku Bank (Moscow), completing the purchase of 100% of all 10 million outstanding shares on January 21.

Net inflows into hedge funds in 2007 were higher than 2006 levels in spite of turbulent markets.

The funding of the purchase of Ps37.1 billion in toll road concessions demonstrates the growing maturity of the local-currency market in Mexico.

After a stop-start year of asset-backed securities issuance in 2007, Fitch Ratings expects European emerging market securitizations to perform comparatively well in 2008. However, it says that a prolonged credit squeeze could hit demand for structured bonds. "Borrowers with hard-currency refinancing needs have so far weathered the liquidity crunch remarkably well but their funding needs will become more acute if the international capital markets remain closed for another two or three quarters, and local markets are not deep enough to provide alternative funding," says Jaime Sanz, head of European emerging market securitization at Fitch in London.

Al Rajhi Bank

Which CEOs have created (or destroyed) the most shareholder value? Euromoney's latest ranking shows that, despite the reverses of 2007, most remain in credit with investors.

For the first time since 2002 debt is a buyer’s market, and investors are getting what they have long wanted: wider spreads. But at what cost?

Perhaps it’s a feeling of guilt, or an urge to give something back. After all, according to new figures from the IMF, nature has gifted Qatar with oil and gas that have helped it achieve a GDP per capita approaching $70,000.

Put off by past experience, but the consensus is that its time has come.

Analysts suggest where bank investors should look to invest next, and why.

The list of credit bosses to resign from their positions has grown longer. Grant Kvalheim has resigned as co-president of Barclays Capital, leaving Jerry del Missier as president of the UK bank under the chief executive, Bob Diamond. Kvalheim lost the credit trading book in the autumn to del Missier, leaving him with a somewhat reduced role. John Winter and Peter Goettler, who were part of the team that followed Kvalheim out of Deutsche Bank in 2001, continue in their respective roles as heads of European and US investment banking.

Unprecedented co-operation between European banks has, at last, created a single euro payments area. It will transform the cash management business and possibly the whole banking industry. Laurence Neville reports.