Rising oil prices and restructured debt deals have lifted the mood about the economic outlook for the United Arab Emirates. 

Hit hard by the credit and property bubbles that were at the epicentre of the global financial crisis, the United Arab Emirates' banks have since managed to shore up their stability and start to devise strategies for future growth. 

Barclays Capital is most of the way through its audacious bid to transform its fixed-income prowess into an integrated investment banking offering. There are signs that the investment and effort are beginning to pay off in the equities business.

Conflict, corruption and too many failed businesses left it with a sclerotic banking sector with little appetite for risk, but South Sudan hopes its status as a newly created nation state will encourage investors to rethink their approach to an economy that hopes to underpin its regeneration with its rich reserves of oil. 

The recently approved merger of Banorte and Ixe might not spur a consolidation trend within Mexico's locally owned banks but it is a positive sign of change as the market seeks out growth opportunities and increased liquidity.

Colombia's finance minister, Juan Carlos Echeverry, has every reason to be enthusiastic about his country's future but he is careful not to be complacent, knowing only too well that an economic boom can lead to bust.