Asia Pacific

From Beijing’s plans to overhaul its small-business stock exchange to Shanghai’s push to be a global financial services leader, legislators never seem to rest in China.

How much right does a bank have to instruct your behaviour when working from home? At Nomura in Japan, plenty, it seems – though the bank has only concern for your health at heart.

Two years ago, Deutsche pulled back in ECM. Now, in Asia, it wants back in.

No access to reserves, sinking currency, soaring inflation. Now what?

Ajmal Ahmady, governor of Da Afghanistan Bank, Afghanistan’s central bank, gives Euromoney the inside story on his escape from the stricken country.

SMBC’s tie-up with Jefferies is only the latest in a series of acquisitions, partnerships and initiatives it has undertaken from India to Vietnam to Wall Street. Now, says president and chief executive Jun Ohta, it is time to make them work.

Citi has 13 Asia and EMEA consumer businesses up for sale. The first to be sold, to NAB in Australia, creates a template Citi would love to see used in later deals.

The New Development Bank will add at least four new member countries next month, with the likes of Bangladesh and Egypt leading the charge to join. A concerted focus on ESG and more private-sector lending are also on the cards for the Shanghai-based multilateral.

Afterpay’s out-of-nowhere success has captivated Australia for some time, dividing the nation into fans and critics of the pay-later fintech. Now it is part of Australia’s biggest-ever M&A deal.

A Royal Commission in Papua New Guinea has heard evidence that accuses UBS of exploiting the country in a complex 2014 loan, which it is claimed enriched the Swiss bank inappropriately and was awarded over the objections of the then-Treasurer of PNG. It will report its findings in September.

Deal strengthens SGX in the FX OTC market, bringing it closer to being the full-service operator Boon Chye Loh wants it to be.

Court documents relating to fraud charges against a young and flamboyant Singapore trader show that most of the country’s banks have had a relationship with him.

There’s a clear role model for US-Japan tie-ups in New York investment banking. Can the new partnership between Jefferies and SMBC follow it?

The London-based MFO is barely a year old, but in just two months McFaddens has formed alliances in the UAE and now with CIIC, a privately owned Chinese group. It is another sign of how fast this area of high-end private wealth is growing up.

By trumpeting a decision to relocate its private banking team to a pricier Hong Kong locale, Haitong International comes across as desperate for a headline. Then again, if it leads to a shinier future, it could be a prophetic moment for the big Shanghai institution.

Beijing made clear this week that it is determined to stop its firms from selling shares in New York. A simultaneous crackdown on ride-hailing firm Didi also offers a timely reminder to global investors that China is no longer committed to market reforms but to ideology and sovereignty in the Xi Jinping era.

If you have Wimbledon withdrawal symptoms, watch Pakistan’s status in MSCI’s indices, which has the same quality as a ball being smacked back and forwards during an interminable rally.

Temasek’s unusual positioning among sovereign wealth vehicles allowed it to get full exposure to the equity upswing. The results also tell us interesting things about developed versus emerging markets, deal making in a travel-free pandemic and making the best of a crisis.

A new Invesco report reveals that sovereign funds are shifting to equities, looking for more alternatives, being called upon for drawdowns and turning to Asia.

No Japanese bank has had a shot at Indian retail before now. Could this be the first of several attempts?

The bid for Australia’s biggest airport highlights pension funds as the most powerful names in town. And take a look at the advisers.

As provider to the London Stock Exchange and DBS on digital new issue platforms, Nivaura is laying the foundations for the future of DCM.

China’s lenders are keen to go green, as Ping An Bank chairman Xie Yonglin tells Euromoney. Regulators want that, too – but embracing ESG in a country still in thrall to dirty industry is easier said than done.

When Stephen Williams joined HSBC more than 20 years ago, the bank was a backmarker in Asian debt markets. When he retires next month, he leaves it top of the heap.

It is showtime. One year after Toshiba’s AGM triggered 12 months of shareholder revolt and the departure of the CEO and several other key figures, it is time for the next meeting. They will have plenty to discuss.

Krafton’s forthcoming record-breaking listing is just one example of a new economy deal that is propelling primary issuance volumes in South Korea. Just wait until the chaebol join the party with their own spin-offs and EV battery deals.

Paytm, whose largest shareholder is Ant Group/Alibaba, could raise India’s largest-ever IPO. It should be smoother than Ant’s own failed attempt, and that tells us something about changing regulatory positions.

The Insolvency and Bankruptcy Code was supposed to provide swift and meaningful resolution to help get state-owned Indian banks back on their feet. Does a 95% haircut with questions around confidentiality achieve that?

Non-resident Indians are a powerful force in wealth management from New York to Singapore. But as the pandemic devastates the subcontinent, this vast diaspora is reassessing its priorities.

Beijing’s push to rein in its fintech champions, including Ant and Tencent, shows no sign of abating. It fears these big corporations and is busy handing out record fines – yet it would be wise not to go too far and undermine all the good things they do.