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  • Bathed in purple light at the official launch of the Financial Services Authority, Britain's new super-watchdog, its chairman, Howard Davies, proved to be a master of bureaucratic levity.
  • Pulling away from the pack
  • The newly formed Financial Services Authority will be the guardian of prudence and good conduct in the UK market, while the Bank of England will take care of liquidity and anything it sees as threatening the stability of the financial system.
  • Making new flexible friends
  • Financing China's mega-dam
  • Blue chips are ripe for conversion
  • Dawn raiders turn into gentlemen
  • Issuing a Eurobond in an east European currency and swapping the proceeds into dollars can produce rock-bottom financing costs with minimal currency risk. The only problem? Most governments don't allow it yet. But as Theodore Kim reports, deregulation could open promising new currency sectors to issuers and investor demand is already growing.
  • They couldn't have picked a better week to open. What else would a City trader want but a safe haven from the ravages of the stock market?
  • With the reliable income of a bond and the growth potential of an equity, convertibles appeal to a large set of investors. The only thing holding back the growth of Euroconvertibles has been the dearth of quality issuers. But now, as Nigel Dudley reports, new structures are bringing some major borrowers into the sector for the first time.
  • One thing stopping banks from trading loans in the secondary market is the lack of standardized documentation. But as Christopher Stoakes reports, this may be about to change.
  • Two civil servants, the treasury secretary and the central bank governor, are spearheading Turkey's first credible attack on inflation in a decade. Both are graduates of Ankara's historic School of Political Science, the Mulkiye, as are many of the government's top decision-makers. A fellow graduate, Metin Munir, reports.