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Daily Dispatches: the end of expat packages?

Foreigners are finding premium expatriate packages harder to come by as more companies turn to the local pay scale for their foreign talent in Singapore. A survey of 200 companies, conducted by HR consultancy ECA International, showed that 21 per cent of their expatriate employees in Singapore accepted local terms. (Asia One)

China’s securities regulator said it has received an application from China International Capital Corp to change its shareholding structure, bringing Morgan Stanley closer to the disposal of its 34.3 per cent stake in the firm so that it can set up a new investment banking joint venture in China. (Wall Street Journal)

Prudential’s efforts to persuade shareholders to back its US$35.5bn takeover of AIA, the Asian business of AIG, have been dealt a blow after an influential voting adviser to investors told its clients to vote against the deal. (Financial Times)

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