Asia > Banking / Investment

Banking / Investment in Asia

  • Kyrgyzstan proposes to create SCO Bank

    KYRGYZSTAN, 2015/07/09 Kyrgyzstan is ready to share its vast experience in the banking sector to help create the mechanisms to establish a lending institution for the Shanghai Cooperation Organization (SCO), says Kyrgyz President Almazbek Atambayev. Atambayev plans to propose the creation of the SCO Bank at the SCO Summit, scheduled to be held in Ufa on July 8-10, 2015. "We propose the Bank to be headquartered in Bishkek, because we by presently have great experience in the banking sector," Atambayev noted. For this purpose, Kyrgyzstan is ready to hold a conference of finance ministers and the heads of national state-owned banks of the SCO five member states.

  • Chinese groups Anbang and Fosun closer to acquiring Novo Banco

    CHINA, 2015/07/07 Chinese groups Anbang Insurance and Fosun International have made the highest bids to buy Portugal’s Novo Banco, in what could be the major foreign investment ever in Portugal, according to the Portuguese press. Next the presentation of the final proposals, to be followed before the end of July by a negotiation phase with the Bank of Portugal, the Anbang group is the favourite, with a proposition totalling 4.2 billion euros. Portuguese TV station SIC said that the proposition of an extra Chinese competitor, Fosun International, which by presently has an significant position in the Portuguese insurance sector (Fidelidade) and health (Luz Saúde), is 3.9 billion euros, higher than the proposition from US group Apollo World Management, which owns the Tranquilidade insurance company.

  • China To Facilitate Foreign Investment Laws

    CHINA, 2015/07/01 China’s cabinet said that it authorized local governments for the approval of investing in some natural gas projects and that it would work on facilitating foreign investment laws in some industries. The council said in a statement next its weekly conference that the central government is as well planning to increase the medium investments in public housing.

  • BNU and Bank of China join forces for business in Portuguese-speaking countries

    CHINA, 2015/06/28 Banco Nacional Ultramarino (BNU) and the Bank of China, the two issuing banks in Macau, Thursday signed a cooperation protocol to promote business between China and the Portuguese-speaking nations. Pedro Cardoso, managing director of BNU, said at the time that the agreement was a way of the two banks to help Macau became a authentic platform for cooperation between China and Portuguese-speaking nations, in the economic area.

  • Chinese Investment in Israeli Tech on the Rise

    CHINA, 2015/06/07 Chinese investment in Israeli technology companies is on the rise, with IVC Research Center predicting Tuesday the price of investment rounds involving one or additional Chinese investors growing by as much as 54% this year, reported Haaretz. Tel Aviv-based IVC, which studies investment trends, noted the price of investment rounds in which Chinese investors have participated has nearly tripled in three years, with $302 million last year. In the initial four months of 2015, the figure is by presently at $117 million, IVC said at an investor’s conference called “Chinese Investors – Israeli Technologies”. Based on these early trends, investment rounds with Chinese participation should reach $467 million this year.

  • EBRD, Kazakhstan cooperating in public services modernization

    KAZAKHSTAN, 2015/06/06 The European Bank for Reconstruction and Development and the Kazakh government fruitfully continue cooperation on a wide-scale program to modernize public services in the country. The EBRD and the Akbulak Company, engaged in Aktobe city's municipal water and wastewater issues, signed a loan agreement in Astana on June 3 during the visit of EBRD President, Suma Chakrabarti to Kazakhstan, the EBRD said on June 3. According to the agreement, the bank will lend up to 2 billion tenge (€10 million equivalent) to Akbulak Company for modernizing the water and wastewater services in Aktobe.

  • Baku discusses CIS, Baltic bond markets

    KAZAKHSTAN, 2015/05/26 The issues of domestic bond market development in Russia, Kazakhstan, Belarus and other CIS nations inclunding EM Eurobonds were mulled at the 12th CIS and Baltic Bond Congress in Baku. Each year the Congress gives its delegates an opportunity to assess the current national and development prospects of the CIS financial markets.

  • Thai banks’ loan growth set to outpace economy

    THAILAND, 2015/05/21 A gradual increase in economic activity and request for credit should support both loans and earnings in the Thai banking sector, although a shift away from consumer lending is likely to continue and low interest rates may prompt banks to tap into other revenue streams. Bank lending is expected to increase by 7-8% this year, according to a statement issued by TMB Analytics in April, outperforming the 5% increase recorded in 2014, though still slower than in each of the four previous years. While lending is set to increase, TMB said this would not be the major increase driver for the sector, as recent rates cuts meant the industry was operating in a low-interest-rate environment. Momentum for earnings is likely approaching from fee-based activity, which accounts for 17% of revenues.

  • China’s investment in Brazil may exceed US$100 billion

    CHINA, 2015/05/20 Chinese private and public investments in Brazil could exceed US$100 billion, or double the figure announced by the Brazilian authorities for infrastructure, said the president of the Brazil-China Chamber of Commerce, Charles Tang. Chinese Prime Minister Li Keqiang, arrived Monday in Brasilia for an official three-day visit, during which he is expected to sign 30 official acts and meet with President Dilma Rousseff and other officials in the capital and in Rio de Janeiro.

  • Investments in Uzbek oil and gas market to hit $18.65 million

    UZBEKISTAN, 2015/05/16 Uzbekistan's national oil and gas company, Uzbekneftegaz plans to invest an estimated $18.65 billion in the development of the country's oil and gas industry. "The investment will be placed under the national program on modernization, technical and technological renovation of the oil and gas industry," Shokir Faizullaev, chairman of Uzbekneftegas, said at the 19th Uzbekistan Oil and Gas three-day international conference, which started in Tashkent on May 12. President Islam Karimov approved the national program covering the period until 2020, he noted. The program envisages the realization of 54 investment projects in the oil and gas industry in the next five years. In particular, 39 projects will be implemented through a funding scheme worth $7.1 billion.
Trending Articles