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Bank of Japan raises interest rates from zero, Richard Li sells his 23% stake in PCCW to investment banker Francis Leung, Singapore's PSA mulls an IPO and CNPC receives just US$500 million worth of shares in oil giant Rosneft's listing.

The Livedoor scandal causes the Nikkei 225 Index to tumble 7% in January, while in February Japan Airlines axes a number of routes as it attempts to stem loses. The country's unemployment rate continues to fall with the economy showing robust growth. In June, the high profile corporate raider, Yoshiaki Murakami, is indicted for insider trading.

Thailand primer Thaksin Shinawatra bobs in and out of power following the US$1.88 billion sale of his Shin Corp to Temasek, while Thai Rayong Refinery raises US$700 million from a June IPO.

In an industry that caters to the risk-averse on one hand and the risk-hungry on the other it means opportunities abound. Chris Wright reports.

Mexican’s abroad sent home $11.4 billion in remittances during the first six months of this year, up 23.1% on a year ago according to the country’s central bank. There were 37.8 million transactions over the period, with an average value of $351. Mexicans working in the US are responsible for the vast majority of the remittances.

Deutsche Bank is preparing a follow-on collateralized debt obligation to an unmanaged residential mortgage-backed securities CDO. The first STAtic ResidenTial CDO (START) 2006-B, is set to close month-end and was doubled to USD1 billion ahead of pricing July 24, structurers said. It is a cash-flow structure referencing 100% pay-as-you-go credit-default swaps on recent vintage RMBS.

Today's deadline for Deutsche Bank to appeal last month's decision in favor of monoline Ambac has been reached without any indication of the bank's intentions. Chip Goodrich, Deutsche Bank's in-house counsel, Ted Aden, its outside counsel at Epstein Becker & Green, and Michele Allison, Deutsche Bank spokeswoman, did not return phone calls for comment on the appeal, and market participants are unsure what is going on. "It's been complete radio silence since the decision," said one derivatives lawyer.

Investors upbeat on return of PM Yanukovich

Wu Xiaoling, deputy governor of China’s central bank, said that an appreciation of the yuan cannot be taken for granted. Wu said that that Chinese businesses should learn to better manage their foreign currency risks as the currency could fluctuate either way, given the uncertainties facing the economy. In July last year the Chinese government scrapped the yuan’s peg to the dollar, linking it instead to a basket of currencies and allowing it to float within a managed band. The currency has appreciated 3.5% since then.

Link Real Estate Investment Trust has scaled down its plans for a syndicated loan and is understood to have cancelled a potential US dollar bond issue after a mystery investor persuaded the issuer to change its plans.

Chan to leave Barclays