Takeover struggles for two Italian banks have laid bare the Bank of Italy’s powerful tinkering in the banking system as the country’s watchdog and the EU pull their mightier legal rank.

UBS and Credit Suisse will always be compared because of their Swiss origins. But the lessons to be learned from this month’s cover story have nothing to do with nationality and everything to do with international corporate strategies: one that worked and one that failed.

Tito Mboweni details the South African Development Community’s little-known macroeconomic and monetary convergence programme.

Deutsche Bank and Saudi Arabia’s Al Azizia Commercial Investment Company (ACIC) signed a joint proposal, in mid-April, for the establishment of an investment banking joint venture.

Colin Jones, editor of The Banker (1979-1987), died on April 10, aged 75, after over 50 years in financial journalism which also included careers in broadcasting and politics.

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.