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The country’s once-in-a-decade change of leadership will cause a set of supposed reformists to take control in March. These new officials should heed the shortcomings of the past decade and offer bold financial reforms. Anita Davis reports.

2012 was a record year for bond issuance in Asia ex Japan with more than US$230 billion raised in G3 debt alone. Credit analysts share their thoughts on the outlook for this year.

In this round up of recent regulatory news, China’s CBRC publishes the final rules for meeting capital adequacy ratios, Hong Kong questions banks over their selling of high yield debt, India plan single route for foreign institutional investment, Taiwan get renminbi clearing bank and Thailand promotes unrated debt.

Asiamoney PLUS highlights the latest job changes from across the fixed income and financial markets.

—Tracey McDermott, director of enforcement and financial crime at the U.K. Financial Services Authority in London, on the actions of certain ex-UBS traders who attempted to manipulate the London interbank offered rate and other interest rate benchmarks.

The imminent end of the world — at least according to the Mayan civilisation — is credit-negative for Europe’s financial institutions, said rating agency Spoody’s in a report on Friday. The expected meteorite impact alone is likely to kill most of the continent’s population, while the ensuing flood brought on by a 100ft wall of water will drown the remainder. But the deluge could also hurt sentiment on peripheral Europe’s nascent recovery, the rating agency said.

The bullish outlook for emerging markets for 2013 is supported by a “return from the abyss” for the eurozone and the US housing recovery

—Timothy Hailes, chairman of the Joint Associations Committee, in response to a recent consultation paper issued by the Financial Services Authority on the Financial Conduct Authority’s use of temporary product intervention rules.

Legislation aimed at facilitating the establishment of South Korea’s central clearing counterparty was expected to be passed by the country’s parliament in early 2012, meaning the country would be on track to deliver its CCP by the G20 end of 2012 deadline.

China’s HSBC flash manufacturing PMI jumped in December but new export orders fell, indicating the recovery relies on domestic consumption

Each year ASIAMONEY awards the standout companies and executive in each major regional country for strong management. In Thailand, L.P.N. Development builds success, BTS Group Holdings stays on track, CP All keeps the consumer happy and Prasert Prasattong-Osoth has the antidote.

Each year ASIAMONEY awards the standout companies and executive in each major regional country for strong management. In Taiwan, Tripod stays connected, Giant stands above all others, TSMC is made of the right stuff and Morris Chang stays ahead of the competition.