2014.3
U.S. law firm seeks records over MH370 loss
Malaysian Airlines and Boeing Co are facing a potential lawsuit over the Beijing-bound flight that disappeared more than two weeks ago with 239 people on board, according to a law firm representing passengers’ families.
NA Deals: SunEdison gets IPO investment from Samsung
Paul Hastings advises Samsung Fine Chemicals and Samsung Electronics on their investments in SunEdison Semiconductor’s Nasdaq listing, Linklaters, Mayer Brown, Joseph P. C. Lee in association with Cadwalader, and Maples feature on Franshion Brilliant’s notes issue, and much more in this week’s North Asia deals spotlight.
ICBC clamps down on Alibaba finance arm
Industrial and Commercial Bank of China Ltd (ICBC) will restrict trade with Alibaba’s online payment arm to one branch, the bank said on Tuesday, in the country’s latest crackdown on a nascent online finance industry.
Taiwan banks’ exposure to China balloons, regulators warn of yuan risks
Taiwan’s central bank said on Thursday that local banks had the equivalent of $64.92 billion in exposure to Chinese loans, investments and interbank deposits as of end-December, leaving them more exposed to China than to any other country.
Barclays, CDB extend strategic tie-up to Africa
British bank Barclays PLC and China Development Bank Corporation (CDB) have signed a new agreement that expands an existing strategic tie-up to Africa, the firms said on Wednesday.
Hundreds rush to rural Chinese banks after solvency rumours
Hundreds of people rushed on Tuesday to withdraw money from branches of two small Chinese banks after rumours spread about solvency at one of them, reflecting growing anxiety among investors as regulators signal greater tolerance for credit defaults.
Three Gorges replaces top executives amid graft probe
China’s Three Gorges Corp, which built the world’s biggest hydropower scheme, has replaced its chairman and general manager, the company said, in the latest major reshuffle of a state-owned firm as the government steps up a fight on graft.
Cambodia c. bank approves ICBC as yuan clearing bank
Industrial and Commercial Bank of China (ICBC) , the world’s largest bank by assets, said on Tuesday it has been approved by National Bank of Cambodia as a clearing bank for the Chinese yuan currency in the country.
ONGC, Rosneft may join forces on oil flows
Rosneft, the world’s top listed oil producer by output, may join forces with Indian state-run Oil and Natural Gas Corp to supply oil to India over the long term, the Russian state-controlled company said on Tuesday.
ANZ keen to exit Cambodia bank stake
Australia and New Zealand Banking Group Ltd, the country’s third-biggest lender, is keen to exit its holding in Cambodia and will look at wholly owned business models wherever regulations allow.