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Ongoing uncertainty over currency movements means that taking short, vanilla FX positions is the likely feature of currency trading in Asia over the coming year. Pamela Tang reports.

The head of Merrill Lynch’s Asia investment banking is setting up his own private equity fund, although he will continue to be an adviser to Bank of America. Naomi Rovnick reports.

A well-received sovereign bond from the Republic of the Philippines opened Asia ex-Japan’s G3 currency debt markets for the year, and raises hopes that more deals will follow. Pamela Tang reports.

The Swiss bank enjoyed unexpectedly strong deal flow from China to take top spot in the respective equity capital markets and M&A league tables for Asia ex-Japan. And ICBC leapfrogged HSBC and Citic Group to head the debt table. Pamela Tang reports.

In a little over two weeks’ time the euro celebrates its tenth anniversary — just as a new political will to engage with membership is coming to the fore in central and eastern Europe. The single currency is winning over hearts and minds among the credit-crunch economies of the region.

BlueBay Asset Management has been forced to close down its long-short emerging markets fund after shedding 53% of its value, highlighting how deleveraging and volatile credit spreads are savaging fixed income investments in risk markets.

Latin American sovereigns are likely to re-open the new issue market early next year, followed by blue-chip Russian borrowers, disheartened emerging market debt bankers said this week as the global equity slump brought an end to the EM bond rally.

Emerging market assets boosted as international lenders provide emergency loans

Government announces large capital injection in four systemically important banks to ward off the persistent threat of a banking system collapse

Bank of China deputy governor Yi Gang yesterday shrugged off the possibility of China’s economy suffering a sharp slowdown as other economies falter in the wake of the financial crisis.

Financiers welcome European rescue plan but say US must now follow suit

If there is an emergent new world order, it will have to balance east and west, north and south, public and private