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Barclays Capital in New York has doubled the size of its CDO team, hiring seven staffers from Credit Suisse First Boston.

Emerging debt and equities moved up over the week

PBOC releases new data

First tranche sees strong investor appetite

Multilateral raises hope for embattled country

Strong reception urges new placement

Business warns of knock-on effect

Bank says government must speed up reform process

People's Bank of China's (PBOC) Assistant Governor Yi Gang acknowledged that China continues to face challenges of economic overheating. However, Gang said that it is highly unlikely that interest rate would be increased in the near-term, as this could led to increased inflow of hot money into the country. Gang was quoted by the official China Securities Journal as saying that the government still faces challenges such as high fixed asset investment growth and pressures to float the domestic currency. Gang added that central bank was keeping the domestic currencyÕs exchange rate at a reasonable level, mainly to keep currency speculators at bay. Gang added that the government had achieved success in curbing excessive growth in the overheated property sector, which has led to a decline in inflow of hot money.

Three senior Asian investment bankers have set up a venture capital firm, Primus Pacific Partners, which will invest in financial services companies in the region.

Focus Media, a Chinese company that offers advertising on television screens in places like offices buildings, has completed the largest flotation of a Chinese company on Nasdaq, raising $171.7m.

PCCW, the telecom and internet company that is one of Hong Kong's few regular corporate issuers, made a lightning raid on the bond market on Wednesday afternoon Asian time, to issue its first dollar bond since July 2003.