Asia Pacific

The head of Thailand’s central bank, Prasarn Trairatvorakul, tells Emerging Markets why the country’s internal politics are a greater risk to the economy than US monetary policy or China’s growth outlook

Power Construction Corp of China (PowerChina) is meeting investors on October 10 over the possibilities of a US dollar perpetual bond in what could be its second offshore issuance this year.

The UK government on Thursday launched its much-heralded debut RMB denominated bond, the first ever from a sovereign that is not China. The deal is expected to mark a big increase in profile for the Chinese currency among international issuers and investors.

ABC HK tapping market with $300m bond — Greenland returns with 2017s — Bohai Steel offers three year dim sum — Energy Earth digs up Thailand’s first dim sum

A domestic South Korean name is now expected to be the first credit to bring a locally issued and listed RMB bond in Seoul, several sources have told GlobalRMB. Two of the sources suggested that KB Kookmin Bank was the most likely candidate and that a deal could come within the next week.

Kazakhstan returned to the international bond markets after a 14 year absence this week, becoming the first sovereign to adopt new collective action clauses in its documentation. The deal was well received but whether the new CAC clauses helped is unclear

Abenomics is looking distinctly weary, as the boost from monetary expansion has petered out, fiscal stimulus has had little effect and reforms will take years to work. Should the Bank of Japan crank up QE to new heights? The Bank is likely to keep that option in reserve for an even rainier day

The Philippines has loosened the rules governing foreign bank ownership, making a big step to bring in more foreign direct investment, as well preparing for further integration with other countries in the Association of Southeast Asian Nations. But there are serious questions about how much impact the new law will have on the country’s banking system

A downgrade to growth forecasts for China by the World Bank has added to concerns in the markets that the world’s second largest economy could be heading for a sharp slowdown

Starting a $100bn multilateral bank is no easy task, especially with Brazil, Russia, India, China and South Africa as its founding shareholders. Experts are warning that disagreements between the five sponsors could make life impossible for the New Development Bank

Yet critics say the forecast is overly optimistic, given the eurozone’s precarious recovery and slowing growth in many of the country’s key regional export markets

Economists are warning that among the major fast-growing economies, Turkey has the most to lose from the US jacking up interest rates over the coming 12 months