The Bush administration has appointed James Wolfensohn to oversee crucial economic and social aspects of Israel’s planned evacuation of Jewish settlers from the Gaza Strip and four West Bank settlements in the summer, in a bid to shore up the fragile peace process between Israel and the Palestinians.

Banca Intesa, Italy’s largest bank, has signed a share purchase agreement to acquire a 75% stake in Russia’s Small Business Credit Bank (KMB), a leading provider of lending and leasing to small and medium-sized enterprises (SMEs).

The ageing populations of the world’s wealthier nations will cause a global slowdown in savings but banks can benefit, says Diana Farrell.

Islamic financing has not only expanded in Muslim countries, but non-Islamic banks are now issuing Sukuk and mortgages.

Questions are still being asked about the workability of the capital adequacy framework, especially the IRB.

Something will have to give as the EU accession countries press ahead with reforms and the old guard drags its heels.