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Bank of East Asia opens branch in Chongqing

Bank of East Asia opens branch in Chongqing CHONGQING, Dec. 19 (Xinhuanet) -- The Bank of East Asia (BEA) opened its 11th branch in China's mainland on Monday in Chongqing Municipality. It is also the first Hong Kong-funded bank in the largest city in west China. The new BEA outlet is expected to offer a full range of foreign currency services to local and foreign-invested enterprises, Chinese citizens and foreign nationals. It will also offer loans including syndication loans and trade finance. "Chongqing is playing a vital role in the development of China's

As UK RMBS Mkt Grows, Issuers Head East

As UK RMBS Mkt Grows, Issuers Head East SINGAPORE (Dow Jones)--U.K. issuers of residential mortgage-backed securities are increasingly heading east to tap a new pool of investors. As the volume and diversity of deals grow, issuers are casting their thoughts to the future and laying the groundwork to grow their investor base - thus far largely European and U.S. - in Asia. "We have not set a specific level, but we're looking to increase the business volume from the Asian market," said David Johnson, director of securitization at U.K. mortgage lender Northern Rock PLC (NRK.LN). In 17 RMBS issues since

Goldman leads 1Q Asia ex-Japan M&A deal volume - survey

Goldman leads 1Q Asia ex-Japan M&A deal volume - survey Goldman Sachs Group Inc. (GS) is the investment bank that has advised on the biggest volume of merger and acquisition deals in the Asia-Pacific region, excluding Japan, so far this year, according to league tables compiled by European data provider mergermarket. The U.S. investment bank advised on seven deals worth a total of US$25 billion in the first quarter, mergermarket said. It was involved in Australian company Alinta Ltd.'s (ALN.AU) US$7.40 billion bid for 80% of the much larger energy company Australian Gas Light Co. (AGL.AU) and advised Singapore's Temasek Holdings

Good gains in Latin America, Asia

Good gains in Latin America, Asia Latin American bonds and Asian equities will give the highest returns in 2006, while US treasury yields are likely to decline, according to Deutsche Bank. ''Treasury bills will still be a good investment choice, but investment in [other] assets will enhance returns on one's portfolio,'' said Marshall Gittler, chief Asian strategist at Deutsche Bank. Interest-rate hikes by the Federal Reserve have reduced liquidity in the US financial market, resulting in an overpriced corporate bond market. Meanwhile, the credit standings of Argentina, Brazil and Venezuela have been improving, particularly with regards to the balance of payment

Pan Asia fund fails to excite investors

Pan Asia fund fails to excite investors The Pan Asia Bond Index Fund, the first exchange-traded bond fund in Asia, has generated scant interest from investors in the past year, despite its heavyweight backers, namely the Asian Development Bank and the regions central banks. According to the funds manager, State Street Global Advisers, the size of PAIF has only grown from the initial $1bn — contributed to by the 11 members of the Executives Meeting of East Asia-Pacific Central Banks (EMEAP) — to around $1.2bn since it was launched in July last year. We are a bit disappointed that the fund has not