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Emerging market specialist moves to Middle East
CSFB and Barclays banker was one of market’s most eminent figures
Senior loans banker leaves Deutsche after 14 years
Bank says it is investing in Middle East and plans more hires
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In this round-up, US treasury secretary Steven Mnuchin called the talk with Chinese central bank governor Yi Gang ‘candid’ on Twitter, the Mainland warned domestic tourists and students against planning trips to the US, and both the World Bank and International Monetary Fund (IMF) lowered predictions for Chinese GDP growth thanks to trade tensions.
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The list of companies that have declared their support for the Task Force on Climate-Related Financial Disclosures has grown to 671, with a combined market capitalisation of $9.3tr. This is up from 457 worth $7.9tr in September. The TCFD Secretariat issued its second status report on adoption of the recommendations this week.
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Emerging markets and developing economies (EMDEs) are at risk of a financial crisis as mounting debt levels are making them vulnerable to an economic shock, the World Bank warned this week.
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The much anticipated Shanghai tech board held its first listing committee meeting on Wednesday. Three companies are en route to be registered with China Securities Regulatory Commission (CSRC) and become the first batch of listees on the board.
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JP Morgan has hired former UBS banker David Xu to lead onshore equities as it readies the launch of its Mainland securities joint venture.
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Chinese securities houses and banks have suffered a rough two weeks that have hit their funding conditions. A lawsuit from China Merchants Bank (CMB) against Everbright Capital has brought even more worry to a market still recovering from the panic caused by Baoshang Bank’s takeover.