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Dispatches: Asian hedge fund managers are missing out

Asian hedge fund managers are missing out on the cash flooding into the world’s fastest- growing region, leading some to close funds or defer new offerings. (Bloomberg)

China’s securities regulator will review on Friday the proposals by China Construction Bank and Bank of China to sell new shares to their shareholders, the China Securities Regulatory Commission said on its website. (Reuters)

Fund manager Perpetual is considering offloading its corporate trust business as part of a defence against a $1.75 billion takeover approach from aggressive US private equity raider Kohlberg Kravis Roberts. (The Age)

New bank lending in China is expected to exceed the target set for this year as new yuan loans grew faster than expected in September, while the country’s foreign exchange reserves hit a record US$2.65tn, central bank data showed yesterday. (Shanghai Daily)

Citigroup is investing heavily in technology to support the expansion of its consumer-banking business in the Asia-Pacific region. New Citibank branches are taking on what it calls the “smart-banking” model, with interactive touch panels, video-conferencing capabilities and full-service banking from devices such as iPhones and iPads. (Wall Street Journal)

Every thing seems to be going great for Singapore professionals on the job front, yet they are not looking to a big pay rise next year. “Salary expectations are moderating,” says the Berkley Recruitment Group, indicating that 17 per cent of the 3,000 professionals it polled recently don’t see any pay rise in 2011. (Asia One)

Standard Chartered expects to double income and market share of business derived from small and medium- sized enterprises within four years. (The Standard)

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