As mergers between giant US banks spawn behemoths, it’s a case of eat or be eaten. But the appetite, for now, is for homegrown fare.

Assumptions that Western-style democracy is superior to all other systems fail to realise that its cost and complexity may not suit countries where action, not words, are paramount.

Projections on growth for China that envisage a doomsday scenario for the rest of the world are both overblown and flawed.

At a time when growth does not necessarily mean more jobs, governments must take a proactive stance to keep people in work.

Andrew Smithers argues that the US current account deficit is too small and its financial markets need to fall.

Top US banks, led by Citigroup, again produced strong profits growth in the fourth quarter and for all of 2003, reflecting imp-roved credit quality and strength in retail financial services.

Net capital flows to emerging market economies jumped sharply in 2003, gaining more than 50% to reach $187bn, and are expected to rise further in 2004, according to the latest report from the Washington-based Institute of International Finance (IIF).

Two weeks before the Chinese New Year, the Chinese government provided two of the country’s biggest state-owned banks a much-needed gift: new capital of $45bn.

Two private banks have opened in Syria, the first since the nationalisation of the banking system in 1961, and more are expected to open soon.