Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
A strong reputation and a leading position in the industry prompted investors to flock to Samsung SDS’s IPO of up to W1.16tn (US$1.1bn), setting a positive tone for another upcoming Samsung-related deal – the US$1.4bn listing of Cheil Industries.
Largest Australian private health insurer Medibank Private is pushing ahead with its jumbo IPO of up to A$5.5bn (US$4.83bn), despite the recent volatility in global markets.
Singapore Exchange last week launched its first renminbi futures products in a move to enhance the city state’s status as an offshore hub for the currency outside Greater China.
Indonesia is shaping up to be one of the highlights of the Asian loan market in 2014 as lenders wager that the country’s new government will push through necessary economic reform.
Credit markets welcomed the inauguration of new Indonesian pro-business President Joko Widodo, popularly known as “Jokowi”, as sovereign bonds had rallied since he came to office last Monday.
The Hong Kong-Shanghai cross-border stock initiative is likely to present a huge test for regulators in the SAR and China to work together to prevent, identify and punish financial wrongdoing, market participants say.
Indian bond offerings from IDBI Bank and Tata Motorsthrived last week, despite choppy credit markets, pointing to investors’ continued demand for top-quality Indian assets.
Suncorp-Metway breathed new life into an out-of-favour asset class Thursday, when it sold only the second Australian dollar covered bond of the year from a local issuer.
The China Insurance Regulatory Commission gave its approval on October 17 for insurance companies to invest in preference shares.
Citic Securities has become the first Chinese brokerage to issue an offshore bond using an onshore parent guarantee under the new State Administration of Foreign Exchange rules.
Jin Liqun has resigned as chairman and member of board of directors of China International Capital Corporation.
Korean Air last week became the first corporation to issue a senior unsecured bond with a guarantee from the Export-Import Bank of Korea. The move paves the way for more cash-strapped Korean companies to access public overseas funding through the support of the highly rated bank.
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Keith Mullin senses a positive shift in the industry’s fixed income trading numbers.
Trading Asian credit need not necessarily be a fool’s errand, says Jonathan Rogers.
Editor-at-large Keith Mullin asks: What about the over-capitalised banks?
(Reuters) - The Bank of England told British banks on Friday they will be required to hold more capital to guard against the risks of bad loans, but the new measures were less stringent than many had expected.
Industry-driven initiatives to streamline balance sheets by clearing out superfluous swaps trades are set to come under pressure as clearing and execution rules being rolled out across Europe threaten to slap higher costs on an activity that is intended to reduce risk.
(Reuters) - From bundles of cash inside scraps of newspaper to setting up shell companies, the trial in Florida of a former UBS executive is a reminder of the extreme methods some Swiss bankers used to hide clients’ cash.
Alberto Gallo of RBS on the tricks the ECB might employ.
Peters: If a week is a long time in politics, then two days are an aeon in markets.
(Reuters) - BNP Paribas, France’s No. 1 bank, said third-quarter net income rose 11 percent from a year ago as gains in fixed income trading and in international retail offset a lacklustre economic environment in its core European markets.
(Reuters) - Royal Bank of Scotland said it had set aside 400 million pounds ($639 million) to cover potential fines for manipulating currency markets and another 100 million to compensate customers mis-sold loan insurance.