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Australia's debt capital market is the most sophisticated in the region, and the potential is there for it to grow – but where is the supply going to come from? By Chris Wright

China is the latest country to want to launch a second board to supplement its main stock exchanges. It has a lot of advantages in doing so – particularly the huge potential size of its market. But success will depend on prudent regulation and education of investors. By Joy Lee

Mergers and acquisitions in e-business differ a little from their old economy counterparts. The youthful dot.coms are unlikely to experience the pain of company pride being roughly cast aside in the interests of the newly formed entity. There are also likely to be fewer employees to painstakingly placate and reprogramme. Then again, redundancies will always sour proceedings. Sohu.com, one of China's top three internet portals, is one such example. It merged with ChinaRen.com in October last year in a bid to broaden its capabilities – ChinaRen having built a strong reputation based on the popularity of its chatrooms. However, come December, Sohu announced its intention to cut its staff by 126 to 515. And analysts suggest further redundancies may be required if the company is to ensure its well being.

The formation of local asset management companies and a resolution trust company are two ideas put forward by Taiwan's bureau of monetary affairs to help deal with the country's mounting bad loans. Dominic Jones talks to two key executives in the bureau, Shiau Chang-Ruey, deputy director of community financing, and Philip Ong, director of foreign banks and international affairs, about what more needs to be done.

Anand Panyarachun earned his reputation as one of Thailand's most incorruptible prime ministers. Now he is using his formidable political and business clout to push for a more democratic and equitable society. By Ben Davies.

Technology may be the great enabler for the centralization of cash management operations, but the rapid pace of change in the e-environment means that few banks are willing or able to jump in feet first. And a joining of forces still seems out of the question. Joy Lee reports.

Asiamoney always likes to see the development of new asset classes but this one had us stumped: an Australian securitization backed by loans that fund eucalyptus trees. Mark B Johnson reports on this latest, rather eye-catching expansion of the market.

Technology may be the great enabler for the centralization of cash management operations, but the rapid pace of change in the e-environment means that few banks are willing or able to jump in feet first. And a joining of forces still seems out of the question. Joy Lee reports.

Ian Macfarlane is not given to alarmist statements, and despite concerns about the US economy he continues to forecast healthy growth. The governor of the Reserve Bank of Australia explains policy to Chris Wright.

Japan's new minister for financial services has made an unusual call to the world's media to hold off from pushing the country's financial system to the brink. His belief is that the situation is so finely balanced that undue panic could do just that. But with Mori poised for a quick exit, time is against him. Does the one-time reformer still have what it takes to put Japan Inc's affairs in order before the dominoes fall? By Fiona Haddock.

It was the largest IPO in the Kuala Lumpur Stock Exchange (KLSE)'s history; the biggest slap in the face for Renong chairman Halim Saad; the most embarrassing episode for Commerce International Merchant Bankers (CIMB). The superlatives abound in the case of the IPO of TimedotCom, Time Engineering's telecoms arm, which in February issued 175 million shares at RM3.30 (US$0.86) each, and offered for sale 397 million shares owned by the parent. Designed to raise RM1.89 billion (US$497.4 million), the IPO was only 25% subscribed. Renong-controlled CIMB was the advisor, managing underwriter and joint lead underwriter. Not a happy moment for CEO Nazir Razak? Well, though CIMB's shares did fall, the paper is thought widely dispersed among the other underwriters, including all major local names. "The outcome was widely expected," says a local analyst. "The talk is that most of this paper has already been taken up by government-linked institutions. All this will emerge over the next few weeks."

Australia's economic outlook is heavily dependent on the state of the US economy. That's a tough problem for a country that has already faced a year of distortions to its economic data. By Chris Wright.