Standard Chartered’s CEO says the bank’s growth in Singapore would have been negatively affected if it had taken a ‘locals-only’ approach in hiring, while also acknowledging that the perception that there needs to be a stronger Singaporean core in the financial sector here is “a real issue”.
Chinese biotech firm 3SBio has completed its take-private deal, in a move that analysts say paves the way for a listing in Hong Kong. The firm was listed on the Nasdaq exchange.
China has blocked MasterCard from processing credit card transactions in renminbi, raising concerns about Beijing’s willingness to fully open up the sector after the World Trade Organisation found that it unfairly restricted foreign card companies.
China’s powerful stockpiling agency has purchased base metals on the international market for the first time since prices crashed during the global financial crisis, as Beijing takes advantage of the recent price slide .
Australia’s reserve bank may be poised for another rate cut tomorrow following today’s economics news that foretells a soft outlook for the national economy.
Indonesia says it is waiting for a response from the Monetary Authority of Singapore related to the DBS acquisition of Bank Danamon.