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The confusion over UniCredit’s Cashes notes is not a one-off. Uncertainty over regulatory capital eligibility affects the biggest banks in Europe, and it is unlikely to go away soon.

Equity and bond investors hoping for the Turkish central bank to step in and cool its overheating economy will be dismayed by President Erdogan’s pledge to influence its decisions. But they should not be surprised.

Chinese technology company ZTE Corp appears to have been saved from the brink, after US President Donald Trump’s surprising intervention on Twitter. But although that may look like good news to ZTE’s investors, it should not be applauded by anyone else. The only thing predictable about the trade war between China and the US is quite how unpredictable it will be.

India’s latest infrastructure investment trust listing, or InvIT, was a success by most accounts, raising Rp32bn ($484m) for IndInfravit Trust. But the lack of liquidity in the secondary market has exposed it as a hollow victory. More needs to be done if the asset class is to become a viable fundraising tool.

CME Group on Monday launched two new indices to calculate the price of ether, the second most popular cryptocurrency after bitcoin by market capitalisation.

GlobalCapital is pleased to announce the winners for this year’s Americas Derivatives Awards. The results were announced at a gala dinner at the Metropolitan Club in New York on Thursday. The awards honour the firms and innovations that have pushed the derivatives market forward over the last 12 months.

The Chinese central bank outlines achievements in RMB internationalisation in 2018 so far, onshore subsidiary of Foxconn prepares A-share market debut, and international banks’ business in Shanghai grew in the first quarter.

Two international financial institutions apply for majority stakes in onshore joint ventures, Vanguard sells new ETF to track Chinese stocks globally, and Taiwan Futures Exchange (TAIFEX) joins hands with S&P Dow Jones to set up the first RMB futures indices in Taiwan.

Japan receives a renminbi qualified foreign institutional investor (RQFII) investment quota, People’s Bank of China chief backs greater liberalisation of domestic financial sector and RMB exchange rate, and the central bank outlines key objectives for RMB internationalisation in 2018.

GlobalCapital is pleased to announce the winners for this year’s Americas Derivatives Awards. The results were announced at a gala dinner at the Metropolitan Club in New York on Thursday. The awards honour the firms and innovations that have pushed the derivatives market forward over the last 12 months.

For innovation in structuring, its leading role in helping financial institutions comply with regulations and its support for the derivatives industry through its work in drafting standardized documentation, Mayer Brown is GlobalCapital’s Americas Law Firm of the Year.

Investors in emerging market assets have been caught short in the past fortnight, with many wrongly positioned for the rising dollar. The sharp fall in EM asset prices has caught many by surprise, but if two weeks of pain has taught them anything, it is that passive investing is not a good idea.