Asiamoney - India Coverage

India

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August enjoys busiest M&A volumes on record

02 Sep 2010 M&A, League table
Announced M&A activity for Asia ex-Japan during the month was larger than any previous corresponding month on record. Total M&A deal flow for the first eight months of the year is also the most seen so far. Morgan Stanley is the lead adviser for M&A.
G3 worries could blow cold on Asian bond market rally

01 Sep 2010 Bonds, Foreign exchange
Rising fears of economic stagnation in the US and to a lesser extent Europe could cause international investors to withdraw money from Asia and put it into ultra-safe assets such as US Treasuries, believes Deutsche Bank.
Asian G3 bond market set to soar, says Morgan Stanley

31 Aug 2010 Bonds
The US bank believes that issuance will greatly expand on the back of rising capital needs and a need to term out balance sheet leverage, and that this will be supported by rising demand for regional debt among international asset managers.
HSBC hires six in renewed enthusiasm for equities

25 Aug 2010 Broking, Market move
The UK bank has hired six people into different Asian markets to bolster its cash equities coverage. It is part of HSBC's latest drive to build its regional equities capabilities, following several failed attempts before.
World set to see new commodities boom: StanChart

25 Aug 2010 Interviews, Commodities
The UK bank's head of equity research for resources Jeremy Gray believes that the lack of investment into mines across the world will lead to a major boom for copper, iron ore and coking coal prices in the coming years.
Asian corporates buy more developed market rivals

24 Aug 2010 M&A
Companies in the region are increasingly acquiring developed market rivals as they flex their financial muscles. However developed market acquisitions into emerging economies remain three times as numerous, says KPMG.
Asia markets report muted week for fundraising

23 Aug 2010 M&A, Stock & exchange, Bonds, League table
Primary activity in Asia Pacific ex-Japan’s equity and debt capital markets plunged last week, with few deals of note. Mercifully the M&A market enjoyed a doubling in deal volumes. Asiamoney.com reviews last week’s regional market activity.
Plug into renewable energy opportunities: Sarasin

12 Aug 2010 Commodities, Energy, Private banking
The Swiss private bank is anticipating a boom in government spending on renewable energy over the next few years, especially in Asia. It is urging investors to capitalise on opportunities to buy into companies in line to benefit.
Hedge funds return to positive territory

11 Aug 2010 Hedge funds
Rallies across sectors and asset classes saw hedge funds return to the black in July after two months of high volatility and losses, notes Eurekahedge. Distressed debt attracted the most capital, while India was the best-performing region.
India must attract more FDI and raise rates: HSBC

06 Aug 2010 Nations & economies
The bank’s co-head of Asian economics, Fred Neumann, says that New Delhi’s preference to keep rates low risks accelerating its inflation rate. Instead the government should cut red tape and encourage foreign direct investment, while the central bank raises interest rates to keep inflation in check.
Japan and India offer top property prospects

06 Aug 2010 Real estate
Asia-Pacific real estate markets have rebounded sharply since the financial crisis. The best opportunities lie in slower growth markets such as Japan and India, according to RREEF, Deutsche Bank’s real estate asset management arm.
Greater China offers most M&A risks and rewards

05 Aug 2010 M&A
The region is the most popular target market for future Asian cross-border M&A, although it is also viewed as one of the riskiest, according to a mergermarket survey.
India’s city suburbs set to benefit from vibrant growth

02 Aug 2010 Real estate, Interviews
The country’s real estate market has remained largely stable except for prime areas in Mumbai and New Delhi, where prices have spiked in recent months. As a result suburbs in these two cities may offer the next best investment opportunities, says CB Richard Ellis.
A week in Asia’s business news

29 Jul 2010 M&A, Stock & exchange, Market wrap
China’s bank regulator warns that 23% of last year’s loans to local government vehicles could go sour, Citic Group looks to IPO in Hong Kong, Panasonic aims to buy out minority shareholders of two entities and New Delhi approves a sale of 20% of its largest electricity grid provider.
Dollar bond issuance hits record high in July

28 Jul 2010 Bonds
Pent-up demand amid the second quarter has led to sky-high levels of US dollar bond issuance this month. Debt experts believe more deals will occur into early August, before a brief two-week lull.
Opinion: JFE's Indian investment is an astute move

27 Jul 2010 M&A, Nations & economies, Editorial
JFE Holdings announced today (July 27) it was buying a stake in India’s JSW Steel for US$1 billion. The move could prove to be a shrewd and astute investment by Japan’s second-largest steelmaker.
Healthcare buy-outs dominate deal activity

26 Jul 2010 Private equity
Private equity buyouts of healthcare companies in Australia and New Zealand, plus a minority stake in Japan dominated last week’s activity. The pipeline looks vibrant too, although general partners may take a short break in early August, writes mergermarket.
A week in Asia's business news

23 Jul 2010 M&A, Stock & exchange, Real estate, Nations & economies, Market wrap
Agricultural Bank of China's IPO debut is disappointing, San Miguel aims to sell a large minority stake in its Pure Foods business, while Fortis Healthcare fights Malaysia's Khazanah for healthcare group Parkway of Singapore.
Foreign bond investors could help India with deficits

20 Jul 2010 Bonds, Foreign exchange
The country’s current account deficit looks set to rise to uncomfortable record levels this year. It needs to open up its domestic bond market to foreign investment in order to finance it, and help pay for its increasing fiscal deficit too.
Private equity fund aspirations in Asia face obstacles

19 Jul 2010 Private equity
The global financial crisis prompted private equity firms to target Asia’s growing economies for investment. But cultural challenges mean that opportunities are slim, while talented professionals are few and far between. Private equity funds must demonstrate exactly what value they provide to succeed.
Opinion: Indian bank merger speculation is misplaced

17 Jul 2010 M&A, Editorial
Indian lenders have enjoyed a surge in share valuations following speculation that the banking sector may start consolidating. But key obstacles are likely to prevent such investor hopes from becoming reality.
Clean tech investments set to soar in second half

17 Jul 2010 Private equity, Commodities
Private equity interest in clean technologies is rising fast. A vicious spate of consolidation in China's solar- and wind-energy industries and rising demand to expand from Indian businesses should propel many more investment opportunities, reports mergermarket.
India and China dominate GDR volumes

13 Jul 2010 Stock & exchange
The two countries are dominating global depositary receipt offerings, having accounted for 34 of the 44 equity issues of this type executed in the first half of 2010, according to a new report from BNY Mellon.
Hong Kong population Asia’s most affluent, says HSBC

13 Jul 2010 Stock & exchange, Bonds, Private banking
A survey commissioned by the UK-headquartered bank says that the city’s affluent people are on average the wealthiest in Asia, but that Taiwan’s well-to-do are the most vigorous investors in equities.
ABC IPO dominates regional ECM volume

12 Jul 2010 M&A, Stock & exchange, Bonds, League table
Regional equity issuance surges to US$20.4 billion last week, mostly because of the eagerly anticipated IPO of Agricultural Bank of China. Asiamoney.com rounds up last week’s capital markets activity.
Opinion: China should join rate hike rage

12 Jul 2010 Nations & economies, Editorial
Countries across Asia are beginning to put up their interest rates as overheating and especially inflation become concerns. China is the only major exception, but signs of rising prices are becoming evident on the mainland. It should follow its neighbours.
Olympus Capital aims at Indonesia with Tata investment

05 Jul 2010 Private equity, Interviews
Asia-focused private equity firm Olympus Capital recently announced it was investing US$300 million in Tata Power. Olympus founder Daniel Mintz tells asiamoney.com the move is a bid to tap Indonesia’s growing coal industry.
ABC stake sales fuel rocketing M&A volumes

05 Jul 2010 M&A, Stock & exchange, Bonds, League table
Regional M&A volume nearly doubled last week as Chinese lender ABC sells strategic stakes and India’s GTL Infrastructure acquires towers. Asiamoney.com rounds up last week’s capital markets activity.
India central bank forecast to raise rates

02 Jul 2010 Nations & economies
Despite a slowdown in manufacturing growth, consumption and services are strong and overheating risk remains. The healthy demand outlook and tight capacity should worry the Reserve Bank of India enough to raise rates, notes HSBC.
Bond volumes rise but values fall in first half

28 Jun 2010 Bonds, League table
The number of debt transactions in Asia Pacific rose by 18% from a year ago, although values fell by 2%, says Dealogic.
Deutsche PWM hires Strasser from Credit Suisse

28 Jun 2010 Market move, Private banking
The German bank’s private banking arm has appointed Michael Strasser from Credit Suisse as global south Asia director based in Zurich. The south Asian diaspora remains a key focus Deutsche Private Wealth Management as it looks to expand its coverage.
Foreign firms set to emulate StanChart’s IDR issue

22 Jun 2010 Stock & exchange
International businesses are likely to follow Standard Chartered’s trailblazing issuance of Indian depositary receipts last month as a means to access the country’s economic growth and capital markets, says BNY Mellon.
Invest in Asia's rising domestic consumption, says UBS

22 Jun 2010 Stock & exchange, Bonds, Private banking
Sustained levels of domestic consumption in Asia are expected to create interesting investment opportunities in equity and credit markets in the second half of this year. says UBS Wealth Management.
Buy-out activity blossoms in India, South Korea

19 Jun 2010 M&A, Private equity
A spate of private equity buy-outs centred on India and South Korea this week, two economies that have posted bullish first-quarter results. Given the prospect of further growth, the outlook is very positive, writes mergermarket.
Limited partners aim to increase exposure to Asia-Pacific

17 Jun 2010 Private equity
Asia-Pacific’s strong growth prospects and regulatory certainty is attracting investors in private equity funds to the region.
Asia financial services M&A set to soar, says PwC

17 Jun 2010 M&A
A new report from PricewaterhouseCoopers predicts that mergers and acquisitions activity in Asia’s financial services industry will rise as international companies are lured by the region’s growth and regional players seek to expand.
A week in Asia’s business news

17 Jun 2010 Market wrap
Australia’s three largest miners unify to condemn new mining tax, while Hong Kong’s most expensive property sale falls through. Agricultural Bank of China’s IPO gains sovereign wealth backing, and the Chinese bank also ties up an alliance with Standard Chartered.
Inflation set to curtail Indian stock market returns

15 Jun 2010 Stock & exchange, Nations & economies
Analysts are turning bearish on Indian stocks after the latest government statistics revealed that inflation hit double figures in May, making further interest rate hikes more likely.
A week in Asia's business news

11 Jun 2010 M&A, Stock & exchange, Investment banking, Nations & economies, Market wrap
Japan gets yet another prime minister, Agricultural Bank of China’s huge IPO looks likely to be smaller than expected, AT&T begins talks with Reliance Communications about buying a stake in the Indian company and New Zealand raises interest rates for the first time in three years.
Risk appetite rebounding among India’s wealthy

11 Jun 2010 Asset management, Private banking
High-net-worth individuals have regained their risk appetite more noticeably in India than the rest of Asia, possibly because of increased sophistication, a survey finds. But confidence there was also hit harder by the crisis in the first place.
Inflation a growing problem for Asia, says Moody's

09 Jun 2010 Nations & economies
Sovereign debt problems and geo-political worries make for a cloudier outlook in the region but governments should take care not to ignore rising inflation, warns the debt rating agency.
A week in Asia's business news

03 Jun 2010 M&A, Stock & exchange, Energy, Broking, Market wrap
Japan’s prime minister resigns as his popularity plummets, UK insurer Prudential walks away from bid for AIA, Standard Chartered completes offering of Indian Depositary Receipts in Mumbai, and Etisalat looks to buy a major stake in Reliance Telecommunications.
Asia’s wealthy confident of global recovery, says survey

02 Jun 2010 Stock & exchange, Bonds, Asset management, Private banking
Optimism about the global economic recovery is more pervasive among wealthy Asians than peers in the west, a new survey has found. Investors in the region also view the responses of their respective governments to the crisis more positively.
Best domestic bank awards: India

31 May 2010 Stock & exchange, Bonds, Polls & awards
ASIAMONEY is pleased to announce the winners of our annual best domestic bank awards. In India, HDFC Bank narrowly fended off Axis Bank to become the best local bank, but the latter’s powerful debt origination business won it the best debt house award. Plus Kotak Investment Banking seized a best equity house gong with a strong display.
A week in Asia's business news

27 May 2010 Market wrap
China’s president tells the US he favours gradual renminbi currency reform, Prudential’s bid for AIA falls under criticism, Indian billionaire brothers Mukesh and Anil Ambani sign a peace deal, and Singapore sovereign wealth fund Temasek appoints Hsieh Fu Hua as its new president.
Indian companies step up their acquisition ambitions

27 May 2010 M&A
Corporates from the country are once again aiming to acquire overseas rivals, resuming a trend curtailed by the global financial crisis. But critics say that these new acquirers are overpaying to secure offshore deals. Aaron Pan investigates.
Emerging Asia stocks to drop 15%: Credit Suisse

24 May 2010 Stock & exchange
Analysts at the Swiss bank believe stocks in emerging Asia still have to drop a further 15% before investors resume buying again. May is also lining up to become the region’s second biggest month for net foreign selling on record.
India telco licence sales dominate M&A activity

24 May 2010 M&A, Stock & exchange, Bonds, League table
The sale of a set of 3G telecom licences in India led the region’s M&A activity to rise fourfold over the previous week, while two large debt deals by PetroChina kept debt market buoyant. In contrast, equity markets were tepid. Asiamoney.com rounds up the region’s capital markets.
Crédit Agricole attempts bond origination push

17 May 2010 Interviews, Bonds
The French bank is hiring in bond origination and is focusing on G3 and local currency markets. In the latter, it is targeting India first. But the bank has a lot of catching up to do on rivals with similar aspirations.
Chinese property firms chase bonds as risks rise

17 May 2010 League table
High yield property companies from the mainland flooded to market in April, leading to the largest monthly volume of high yield bond issuance in Asia in over two years. The region’s equity markets were also busy, despite volatile markets. Pamela Tang and Aaron Pan report.
UBS dominates Private Banking Poll 2010

17 May 2010 Polls & awards, Private banking
The Swiss bank takes top honours for all three main categories of Asiamoney’s largest Private Banking Poll. Deutsche, BNP Paribas, Maybank and Citi also did well.
Sungard eyes Asia M&A opportunities

13 May 2010 M&A, Cash management, Interviews
The software firm is targeting emerging markets in Asia for growth as it strives to build its presence in the region. Asiamoney.com interviews David Runacres, its head of sales, international distribution, on the firm’s listing plans and coming trends.
FTSE and Renaissance launch Asian IPO indices

13 May 2010 Stock & exchange, Asset management
The index company has teamed up with Renaissance Capital to launch two indices that focus on IPO performance in Asia. The creators believe they will lead to new exchange-traded funds, structured products and be used as benchmarks by funds.
Convertible bond issue was opportune deal: Vedanta

30 Apr 2010 Stock & exchange, Bonds
Last month, India’s Vedanta Resources completed the largest convertible bond issue in the region this year in a bid to refinance its debt. Ashwin Bajaj, vice-president of investor relations, explains the reason behind the deal.
BNY Mellon aims to double Asia treasury business

27 Apr 2010 Cash management
The US-headquartered firm plans to double the size of its treasury business in Asia over the next five years, following its appointment of Robert Whittemore as its head of treasury services for Japan
Business news: the past week in Asia

23 Apr 2010 Market wrap
India’s central bank raises interest rates and drains liquidity from the system, while Bank of Thailand holds its rates as blasts rock Bangkok. China tightens regulations on property sales, and the nation became Japan’s largest export market in the year to March for the first time.
Caution catching on among acquisitive Indian firms

23 Apr 2010 M&A, Nations & economies
BarCap’s head of India M&A, Frank Hancock, dismisses fears that Indian firms are at risk of overpaying again for overseas assets. He believes they learned their lessons from the crisis and are displaying a better sense of timing.
Appeal of ‘green’ buildings growing in Asia: report

19 Apr 2010 Commodities, Energy
The construction of environmentally friendly commercial buildings and the retrofitting of existing towers is gaining interest in Asia, finds a report by the World Resources Institute and HSBC. The practice is being promoted as a money-saver.
RBI tipped to raise interest rates by 50bp

16 Apr 2010 Nations & economies
Credit Agricole’s chief emerging market strategist Sébastien Barbe says India’s central bank should be consistent after its unscheduled hike last month and raise interest rates by half a percentage point as the global economy continues to recover.
Business news: the past week in Asia

16 Apr 2010 Market wrap
President Hu Jintao says he is committed to changing China's currency policy gradually. Also, Singapore and China report surging GDP growth in the first quarter, Thailand’s PM comes under mounting pressure, and Agricultural Bank of China selects underwriters for its IPO.
Opinion: prudence will pay in India’s overseas quest

15 Apr 2010 M&A, Editorial
Economic recovery in India has spurred a phalanx of firms to rejoin the overseas acquisition trail, this time focusing on emerging markets rather than the rich world. But there are inherent risks, and familiar accusations of overpaying won’t help.
Opinion: doubts dog Essar’s bold IPO bid

11 Apr 2010 Stock & exchange, Editorial, Energy
Essar Energy’s plan to raise US$2.5 billion in a London listing is a brave one. But while overseas appetite to tap India's growth is undoubted, concerns remain about the company’s governance and struggling recent Indian IPOs.
Citi optimistic over Bric commodities index

11 Apr 2010 Stock & exchange, Commodities
The bank has introduced an index designed to provide exposure to Bric commodity consumption trends. It should appeal to retail and high-net-worth investors in Asia, says Citi’s head of commodity investor products Iain Armitage.
China and India show rising private equity power

09 Apr 2010 M&A, Private equity
A quartet of acquisitions in the past week demonstrates the growing prominence of Asia’s two powerhouses on the global private equity playing field. Given the pipeline, the likelihood is of more to come, writes Mergermarket.
A week in Asia’s business news

01 Apr 2010 Market wrap
Two Australian resources consolidation attempts fail, and a major Chinese pension fund looks to invest internationally. Japan sees its largest IPO in years as a life insurance company lists and South Korea is poised to see a similarly gigantic issue from the same sector.
Banks jockey for Indian wealth management growth

31 Mar 2010 Private banking
RBS named a new market head for the western region of its Indian private banking business as it aims to grow assets under management by 30% in the next five years. It follows a stake sale in a JV by DBS India as it focuses more on the country’s wealth market.
PE funds buy up Japan-style home fitting firms

29 Mar 2010 Private equity
Two deals with a house-ware theme took place last week, each of which had a distinctly Japanese flavour. Additionally TMT investor Silver Lake finally cracked China with a small acquisition into Spreadtrum Communications, reports mergermarket.
Inefficiencies throttle India’s infrastructure plans

26 Mar 2010 Stock & exchange, Nations & economies
Political bureaucracy and a dearth of good projects are stymieing the ability of Indian developers to support New Delhi’s ambitious infrastructure investment agenda, Execution Noble argues. Investors should focus on construction and auxiliary firms instead.
SG adds to fixed income despite tougher times

25 Mar 2010 Structured products, Foreign exchange
The French bank will continue to expanding its regional fixed income operations, undeterred by lower trading volumes and narrowing margins for fixed income products, says its regional head of global markets.
Experts disagree over junk bond refinancing challenges

24 Mar 2010 Bonds
Moody’s believes that Asian non-investment grade companies may struggle to refinance debt in 2011 and 2012. A senior debt banker disagrees, arguing that conditions may remain benign.
Business news: the past week in Asia

19 Mar 2010 Market wrap
Anti-government riots spill over in Bangkok, Australia’s senate approves laws to strip the ASX of its regulatory function, and Premier Wen Jiabao denies the renminbi is undervalued. Also, S&P lifts ratings on Indonesia and India, and Hutchison Telecom closes in on privatisation.
Bond market reform seen as key for China, India

16 Mar 2010 Nations & economies, Bonds
Regulators in both countries need to prioritise their corporate debt markets. Not only would it help their companies to gain efficient funding, it would minimise difficulties in the event of future crises.
Opinion: India must buy into investor diversification

15 Mar 2010 Stock & exchange, Editorial
Last week’s move to allow Indian investors to trade US futures contracts is a positive step for the development of the nation's capital markets. But the government must do more to encourage investors to diversify portfolios.
Citi promotes Sanghi to head of India equities

15 Mar 2010 Stock & exchange, Investment banking, Market move
The US bank names Keshav Sanghi as its new head of India equities, replacing Nikhil Nagle, who left last month to pursue personal interests. Sanghi only joined Citi in January, having previously been CEO of Reliance Equities.
S&P licenses Indian futures contracts

11 Mar 2010 Stock & exchange, Nations & economies
Ratings agency Standard & Poor’s has licensed the National Stock Exchange of India to create and list rupee-denominated futures contracts on the S&P 500 benchmark index for the first time.
Opinion: India’s budget should keep growth on track

05 Mar 2010 Nations & economies, Editorial
While India’s budget could have been more aggressive in removing fiscal stimulus, it does offer a broad set of reforms, disciplined spending and a commitment to more infrastructure development. It will keep most people happy.
Nomura appoints senior banking duo in India

02 Mar 2010 Investment banking, Bonds, Loans, Foreign exchange, Market move
The firm named Nipun Goel head of investment banking for India and Nitin Jain co-head of fixed income for India. Goel joins from BoA-ML in India, while Jain was most recently CEO of the primary dealership at ICICI Securities.
Business news: the past week in Asia

26 Feb 2010 Market wrap
BoCom announces plans for a rights issue, while Morgan Stanley moves closer to selling its stake in CIC. Hong Kong said it would raise taxes to deflate a potential property bubble and Dai-ichi Life’s targets what would be the world’s largest IPO this year.
Opinion: India must try harder in race for energy assets

24 Feb 2010 Editorial, Commodities, Energy
Asian state firms have been vying for oil and gas assets abroad, notably China and South Korea, to reduce dependence on imports. Now India has joined the fray, but its firms need to improve their public relations.
Macquarie outlines potential of nuclear power in Asia

24 Feb 2010 Stock & exchange, Nations & economies, Energy
China’s and India’s growing need for nuclear power will boost the fortunes of companies in the supply chain, many of which are based in Asia, notes Macquarie as it highlights its regional picks in the sector.
India market corrections are a buy, says Nomura

23 Feb 2010 Stock & exchange, Nations & economies, Broking
Rising inflation and monetary tightening in India will likely lead to declines in the stock market. However, Nomura says this is a buying opportunity as a more normal fiscal environment is a long-term positive for financial markets.
Citi reveals raft of India equities hires

22 Feb 2010 Stock & exchange, Investment banking, Market move
The bank has bolstered its Indian equities business with nine appointments in the past few months. They include Keshav Sanghi as deputy head of equities for India and Richard Macfarlane as head of execution services.
HSBC sees buying opportunity in Chinese stocks

19 Feb 2010 Stock & exchange, Nations & economies
The bank believes expectations of interest rate hikes by China are exaggerated and that the recent equities decline presents a buying opportunity for investors. But it is bearish on Indian stocks because the risk of inflation.
Indian stock market jitters are unfounded, says Noble

12 Feb 2010 Stock & exchange
The falls in India’s stock market since the start of the year are overdone, according to analysts at Noble Group. The country’s economic recovery is firmly entrenched and unlikely to be derailed.
Opinion: China and India must open their markets

12 Feb 2010 Stock & exchange, Editorial, Bonds
Asia has recovered strongly from the global financial crisis, but China and India must develop their domestic capital markets and allow in more international investors if their economies are to reach their full potential.
Asia’s distressed assets worth up to US$50 billion

11 Feb 2010 Bonds, Loans, Asset management
Income Partners and Deutsche Bank estimate that there are US$40 billion to US$50 billion of potentially distressed assets in Asia and Australia, with many companies avoiding default only because of the low interest rate environment.
Business news: the past week in Asia

11 Feb 2010 Market wrap
Australia’s richest man gets Chinese funding for a mega-mine, Kirin and Suntory end merger discussions, Temasek launches a new US$4 billion fund, and Taiwan lets its chip- and screen-makers invest more into the mainland.
Asia export slowdown could halt central bank rate hikes

09 Feb 2010 Nations & economies
The growth of exports in the region could begin to taper off this year, prompting central banks might to keep fiscal and monetary policy more accommodative than previously thought.
Won, rupee, New Taiwan dollar set for rebound

09 Feb 2010 Foreign exchange
Risk aversion should subside in the next few weeks and the three Asian currencies are set to be key beneficiaries for revaluation, believes a senior Asia strategist.
BoA-ML names India wealth management heads

05 Feb 2010 Asset management, Market move, Private banking
The bank has named Pradeep Dokania as chairman of global wealth and investment management India in a new role. He is replaced by Atul Singh as head of India advisory as the bank strives to expand in the country.
Little upside left in Indian rupee, says HSBC

29 Jan 2010 Nations & economies, Foreign exchange
The bank notes that the rupee is now the fourth most expensive Asian currency against the US dollar. HSBC is tipping the Korean won, the New Taiwan dollar and Indonesia’s rupiah to appreciate more strongly.
Country deals of the year: India

28 Jan 2010 Stock & exchange, Bonds, Polls & awards
Larsen & Toubro’s US$600 million combined share sale and convertible bond issue was the first of its kind out of India. The innovative transaction earns Asiamoney's nod as India's best deal of the past year.
RBI forecast to hike cash reserve ratio

24 Jan 2010 Nations & economies
The Reserve Bank of India is tipped to raise the cash reserve ratio by 50 basis points at its next meeting on January 29, while keeping repo and reserve repo rates steady so as not to hurt investment into the country.
Business news: the past week in Asia

22 Jan 2010 Market wrap
China's GDP grew at 10.7% in the fourth quarter, raising the liklihood of monetary tightening, while regulators also ordered some China banks to halt lending to rein in credit growth. Japan Airlines filed for bankruptcy protection and SocGen ran into trouble in India’s equities market.
UBS Wealth Management hires Vinay Gandhi

12 Jan 2010 Market move, Private banking
The Swiss bank has appointed Vinay Gandhi to run its non-resident Indian business out of Singapore. He joins after a very short stint at J.P. Morgan Private Bank, which only announced his hire last November.
Super bubble warning for Indian stocks

06 Jan 2010 Stock & exchange, Nations & economies
The Sensex could venture further into bubble territory in 2010 as the nation’s economy rebounds to high levels of positive growth, interest rates remain low and corporate investment returns to the country, cautions Noble Group.
Macquarie Securities names new faces in bold India bet

04 Jan 2010 Broking, Market move
The equities broking arm of Macquarie Group has announced three senior equity sales and research appointments in Mumbai as it takes a bullish view on the nation’s economy and strives to boost its local footprint.

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