Asia Pacific

ADB president Takehiko Nakao has devised an innovative plan to treble the bank’s resources to meet infrastructure needs without risking its AAA credit rating

Pakistan, Bangladesh, Nigeria and Kazakhstan attracting increasing attention as others are left struggling to keep up

The failure of WH Group to mount a successful flotation despite hiring 29 underwriters has fuelled worries that Hong Kong’s IPO market is broken

Islamic finance has gained ground in Asia in recent years, but there is still huge potential for further growth. EM looks at the progress and outlook for sukuk across the region, as well as challenges to wider acceptance

Initiatives aimed supporting Asia’s local currency bond market can deliver big gains but face serious hurdles, delegates to the ADB meetings warned

Rizhao Port (Hong Kong), a wholly-owned subsidiary of Rizhao Port Group, is eyeing its debut offshore renminbi-denominated bond next week. The proposed bond will be enhanced by a standby letter of credit (SBLC) to be issued by Agricultural Bank of China (ABC), Shandong Branch, and a keepwell deed to be provided by the company.

A drive towards consumption-driven trade and Asia-to-Asia capital investment would signal Asia’s coming of age, according to S&P’s chief Asian economist.

China has the supremely delicate task of managing its economy from a high growth model to a more moderate level, while also reining in aggressive credit expansion of recent years. Getting it wrong is not an option for the Chinese government — or the global economy

Emerging market sovereign wealth funds see long term opportunities in the west.

China Chengtong Development Group this week priced the first ever dim sum bond to use an RMB-denominated standby letter of credit (SBLC). The three year deal priced on Wednesday night at 4% with a size of Rmb600m ($96m). Agricultural Bank of China (ABC) provided the SBLC via its Beijing branch.

Credit sentiment is positive, and it seems unlikely that the European Central Bank would take anything other than an accommodative stance at next week’s policy meeting, but bankers are getting cautious that valuations are becoming overstretched, particularly in those markets which have until now been considered safe havens.

Frankfurt struck a blow this week in its battle to become Europe’s primary hub for renminbi business when German state development bank KfW became the first issuer to list renminbi bonds on the city’s stock exchange. The city is likely to become a popular spot for European issuers — particularly German corporations — listing similar debt.