There is an air of excitement about progress in Indonesia’s banking sector and its prospects in the coming year. Neil Sen explains why.

Formed in 1992, Parex has seen off various crises to become Latvia’s second largest bank by selling itself as a channel into western Europe for Russian investors. Robert Anderson reports.

Jan Cienski reports from Warsaw on the complex, drawn-out merger of Pekao SA and BPH – an alliance that has created the largest bank in Poland.

The volume of public listing in Russia shows no signs of abating and commercial banks are likely to join the state banks in keeping the momentum going in 2008. Ben Aris reports.

Ruth Emery assesses the likelihood of a merger between the Hong Kong, Shenzhen and Shanghai stock exchanges.

Equity derivatives’ performance last year was overshadowed by losses in other areas, and activity was not as strong as it could have been, but of all investment banking business areas it was the equity derivatives sector that delivered the best goods. Natasha de Terán investigates whether the sector can rise to the challenge of 2008.

The flotation of DP World last year may prove to be a landmark deal for the emerging markets. Edward Russell-Walling reports on how Deutsche Bank handled the largest ever Middle Eastern IPO.

Edward Russell-Walling reports on how SEB managed to sell €500m of hybrid capital securities in the midst of a market low-point.

Investment banks have been sitting up and taking notice of the pensions industry in recent years – an industry with global benefit liabilities of nearly $20,000bn. Edward Russell-Walling reports on how the banking industry’s big hitters are managing longevity risk.

While the European and US markets are suffering, emerging markets continue on their upward trajectories, indicating that the drivers of world growth have changed. Edward Russell-Walling reports.