Southeast Asia
Southeast Asia
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Over a 20-year career, the still youthful Kartika Wirjoatmodjo has built a reputation as Indonesia’s financial Mr Fixit. Now, the popular banker has a new challenge – to build Bank Mandiri into a domestic leader with aspirations across southeast Asia. Is it his biggest challenge yet?
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While foreign investment banks await Vietnam’s promotion to full MSCI emerging-market status, local investment bank Viet Capital Securities is wasting no time, setting records in its home market with some of the biggest share sales in years.
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Growth is strong, the banks have shed the worst of their bad loans and even the IPO market is enjoying a gala year. Are the good times here to stay or could Vietnam be brought down to earth again soon?
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Bank of Tokyo-Mitsubishi surprised many when it bought Thailand’s Bank of Ayudhya in 2013. Defying the critics, the Japanese lender’s gamble has bagged it a consumer-finance powerhouse, while Krungsri benefits from BTM’s institutional strength and client roster.
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Nestor Espenilla was a surprise choice as governor of the Philippines central bank – but probably the right one. Tough on financial rule breakers and devoted to financial inclusion, he gives the impression of being good in a crisis.
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The world sees Rodrigo Duterte as a hothead populist, waging a bloody drugs war against insurgents, but to most of his compatriots, he’s the reformer the country needs. His aims, including shaking up taxes to pay for infrastructure and targeting an energy revolution, are bold. His choices for the crucial finance ministry and central bank roles look sound. But will they succeed?
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Since dealing with the aftermath of Typhoon Haiyan as the Philippines’ finance minister, Cesar Purisima has become one of the most eloquent spokesmen for how finance can help nations vulnerable to climate change.
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Timberland investor New Forests is encouraging Singapore to become Asia’s hub for impact investing, while solving the region’s annual pollution problem.
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Investors ate up China’s dim sum bonds and snacked on India’s masala notes. Could a taste of Indonesia’s nasi goreng bonds be the next thing to satiate emerging market investors’ appetite?