The convertible bond market has enjoyed a remarkable transformation of its fortunes, and emerging market issuers are now looking to use hybrids to raise much-needed capital.

The good times seem to be here again, with many investment banks reporting record profits. But it is far from business as usual, with the competitive landscape rapidly changing, and the emerging market fee pot shrinking, reports Julian Evans.

African states and banks have provided Zimbabwe with more than US$1bn in trade credit lines. Support from regional bodies has provided a much-needed injection of cash, but in the absence of long-term financing or western loan packages, the country is still far from recovery, writes Shannon Manders.

With international banks and private equity firms absorbed with problems in their home markets, the field is free for local investment houses in what could be the best private equity environment in the last 20 years. Nick Lord reports.

The Madoff pyramid scheme may have begun in New York and Florida, but in its final phase, it spread out to emerging markets, and investors from the Middle East and Russia have lost billions.

In March, Georgia’s Prime Minister Lado Gurgenidze told emeafinance that the issue of the separatist provinces of South Ossetia and Abkhazia would be resolved “in the next few months”....

HSBC’s new head of international banking, Tony Mahoney, tells emeafinance’s editor Julian Evans the bank is ready for a “substantial move” into Central & Eastern Europe (CEE).

Having been caught in a blizzard of media and regulatory attention in the first half of 2008, sovereign wealth funds are taking steps to try and improve their public image, including agreeing to a voluntary code of conduct in September, reports Julian Evans.

The real estate projects in Dubai get ever bigger and more extravagant. But an investigation into corruption and concerns over liquidity are threatening the market’s image. Will Rankin and Julian Evans report.

Depository receipts have proven to be a reliable business even in these volatile times. Indeed, trading on GDRs is actually up 87% this year, even though new issuance is dramatically down on 2007.

In August, the first war for a decade took place in Europe, as Russia invaded Georgian territory. Since then, Russia has faced its worst financial crisis since the 1998 debt default. emeafinance editor Julian Evans looks at the economic costs for Russia of its military adventure in Georgia.

Investors appear willing to back Egypt’s long-term growth, after the IMF delivered a US$12bn endorsement