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Investment banks on course for first-half Asia record

Investment banks on course for first-half Asia record Investment banks are poised to celebrate their best first half on record in Asia with buoyant capital markets and strong takeover activity driving up revenues. Financial firms have earned an estimated $1.7bn in revenues from deals in Asia and, with seven weeks to the end of the period, are within striking distance of the record high set in the first half of 2005, according to figures by Dealogic, the research firm. Most investment banking fees are confidential but executives say the Dealogic figures under-estimate their firms earnings, highlighting the fact that rapid growth in revenues

Japanese banks among best bets in Asia

Japanese banks among best bets in Asia Japan is the best bet for equity investors looking to make money in Asia this year, with the country's rebounding banks among the region's top picks, an Alliance Trust strategist said on Thursday. Anthony Muh, head of the Asia Pacific region for the London-listed trust, said while he expects China's economy to grow faster, investors can better capitalize on Japan's economic revival. "Japan is the clear favourite within the greater Asia-Pacific region. Thereafter, there are no countries that stand out, so it's very much down to individual stocks," he told Reuters after a media briefing in

China puts most investment in Asia

China puts most investment in Asia China put 66 percent of its overseas direct investment to other parts of Asia, the Ministry of Commerce said on Monday. In addition, 42 percent of China's overseas contracted projects and 54 percent of labor export service are in Asia, according to figures from the ministry. During the January-November period of this year, China's investment in North America, Oceania, Africa and Asia grew more than 80 percent, and the volume of China's contracted projects and labor export service in Africa and Latin America grew more than 60 percent. During the eleven months, China's non-financial direct

Dollar Flat Against Yen in Asia

Dollar Flat Against Yen in Asia The dollar was flat against the yen in Asia Tuesday after overnight data showed that U.S. sales of existing homes fell for a fifth consecutive month in August, further indications of a slowdown. The U.S. dollar was trading at 116.50 yen on the Tokyo foreign exchange market at 3 p.m. (0600 GMT) Tuesday, edging up from 116.48 yen from late Monday in New York. The euro fell to US$1.2750 from US$1.2757. U.S. investment banks and overseas hedge funds sold the dollar to as low as 116.26 yen in early trading, but aggressive buying interest from Japanese

Barclays Capital counts on strong Asia growth

Barclays Capital counts on strong Asia growth Barclays Capital, the investment banking arm of Barclays , is counting on Asian revenue growth of at least 25 percent a year, Chief Executive Bob Diamond said on Sunday, as the banks overseas businesses now make up about half of its total profits. Barclays Capital (BarCap) is counting on equity and credit derivatives and commodities businesses to drive a large part of the regions growth, Diamond said at a media briefing. Twenty-five percent would be the starting point of where wed see the growth in Barclays Capital here to be, he said, noting that level was