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  • By Luis Alvarez de la Vega of Squire, Sanders & Dempsey, Madrid
  • By Mira Davidovski and Brenda Horrigan of Salans Hertzfeld & Heilbronn, Paris and Moscow
  • By Izuru Goto of Tanaka & Takahashi, Tokyo
  • Introduction by Banca d'Italia
  • By John G Myers of Smith Lyons, Toronto
  • New era in Turkish banking industry By Özlem Oral, LLM, Birsel Law Offices, Istanbul
  • By Allen & Overy, Paris
  • Varied fortunes for the South African bond market
  • Brazil commits to lifting exchange controls
  • UBS, the Swiss financial group and world's largest private bank, is buying PaineWebber, the fourth largest private client bank in the US, for $10.8 billion. The deal gives UBS access to PaineWebber's $475 billion worth of client assets.