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Daily Dispatches – Singapore fund house Fullerton opens in Japan

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Fund company Fullerton, which is owned by Singapore’s sovereign wealth fund Temasek, has added a second international branch – in Japan – following the establishment of its office in Beijing, according to a report in Asian Investor.

The company says that opening a Japan office, which has been in the works for two years, has been part of the long term business strategy.

Hong Kong’s Haitong Securities expands to Singapore 

One of China’s largest securities firms has opened its first overseas subsidiary, securing a licence to operate in Singapore, according to a report in Finance Asia. Ten people have been hired, and more will be added depending on the unit’s development, the firm said.

Morgan Stanley mulling work/life balance changes

Bloomberg reports that Morgan Stanley is reviewing its work policies related to junior bankers as rivals have pushed some employees to take weekend days off, Chief Executive Officer James Gorman said.

Investment banks including Goldman Sachs Group Inc. and Credit Suisse Group AG have recommended junior bankers stay away from the office on certain weekend days as firms seek to improve working conditions. Gorman said his firm might not follow the same track.

UK private banker causes uproar in Singapore

A British businessman has issued an apology after receiving death threats in Singapore for mocking “poor people” and calling a taxi driver a “retard” in a series of abusive remarks, reports The Independent.

New JV between Wall Street Journal and Six Capital to boost Asia’s FX trading skills

The Wall Street Journal’s ‘Future Leadership Programme’ has teamed up with Six Capital, a foreign exchange (FX) trading and training company, to provide FX trading knowledge to leading universities and working professionals to train Asia’s next-generation business leaders, the companies said in a statement.

Recruiting buoyant in Taiwan

The 2014 Michael Page Salary and Employment Forecast reports that 48% of surveyed employers in Taiwan believe that current hiring activity is stronger than in 2013.

The latest survey revealed there four out of ten respondents expect a continued shortage of professional skills across businesses over the next 12 months.

Australian bank in ethics conundrum 

Banking giant ANZ is financing a Cambodian sugar plantation that has involved child labour, military-backed land grabs, forced evictions and food shortage, reports the Sydney Morning Herald
The revelation raises serious questions over the bank’s due diligence process and its compliance with a global ethical banking code it has signed as well as its own internal policies.

China gives the go-ahead to 12 new free trade zones

China State media has reported that a dozen new free trade zones have been given the nod after the opening of the first in Shanghai, according to Channel News Asia, which says this furthers efforts to test economic reforms and bolster growth. 

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