Asia Pacific
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Chinese state-owned Bohai Steel Group made its debut in the debt market with a dim sum bond on October 9, and managed to put in a good showing in the secondary market the following day, even though talks of a eurozone recession prompted a fire sale across markets. -
Barclays has been forced to pull what would have been the first offshore renminbi bond from a Thai borrower, with investors staying away because of a lack of visibility on the company’s business operations.
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In this round-up, RMB clearing in Hong Kong reaches a new record, RMB deposits in Seoul keep surging, two more tests for the Shanghai-Hong Kong Stock Connect are coming up ahead of its launch and Shenzhen is considering its own mutual trading initiative.
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Woori Bank (WB) was selling the first locally issued and listed renminbi-denominated bond in Seoul on October 10. The bank’s Rmb200m ($32.6m) two year deal was priced at 3.87%, according to two sources based in Seoul.
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When Nawaz Sharif was elected premier of Pakistan in June 2013, the country’s economy was in a perilous state. Foreign exchange reserves had slipped to dangerously low levels over the previous 18 months and would continue to fall for months to come. Inflation was running at close to 10% while growth was on track to hit 3.7% in the 12 months to end-June 2013, down from 4.4% the previous year.
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Teetering on the edge of financial Armageddon just 15 months ago, Pakistan has come far in the past year. But it is only at the start of a very long and perilous journey
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President Putin may not like it but Russia needs to trade with the West. China may offer a potentially large alternative source of business but it will be a far more testing partner and both countries hold a healthy level of mistrust in each other. Meanwhile, a charm offensive in Latin America, the Middle East and elsewhere has produced only a piecemeal development strategy
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Women's participation in the labour force still lags men's by 12% even in developed economies. In the MENA region it can be up to 50%. That is a wasted resource - and best practice examples show countries and companies that tackle the problem outperform
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Although fast-growing economies such as China secured a deal four years ago to earn greater voting rights on the IMF, they are still waiting for approval by US Congress. They could finally be about to get their way
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As the global financial community is braced to withstand the impact of the looming US interest rates, Indian central bank chief Raghuram Rajan tells Emerging Markets that the federal Reserve must pay attention to emerging market concerns
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A key economic advisor to the central government has warned that China faces a series of formidable challenges including slowing economic growth and a rapidly deflating credit and real estate bubble
