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• Merger to create Glencore Xstrata International

  07 February 2012 | Oliver Jones

  The directors of Glencore and independent directors of Xstrata reached an agreement on an all-share merger on February 7, involving 2.8 new Glencore shares for each Xstrata share or 1,290.10 pence (USD20.38) per share. The price represents a 15.2 percent premium to the company’s share price on the last business day prior to the announcement of discussions between the two parties and values Xstrata at USD61.9 billion.

• Magellan AM gets Northern Trust as global custodian

  15 February 2013 | The Asset

  Australian based investment manager Magellan Asset Management (trading as MFG Asset Management in the UK and the US)has tapped Northern Trust as global custodian to its Australian management investment schemes, Magellan Global Fund and Magellan Infrastructure Fund, with funds under management of about US$2.5 billion as of end- 2012.

• Al Jazeera Finance secures USD95 million syndicated facility

  15 February 2013 | The Asset

  Al Jazeera Finance (AJF) has signed a US$95.0 million (QAR345.8 million) three-year dual currency Murabaha facility with a syndicate of banks from the GCC, its first syndicated financing transaction.

• VODone’s launches V.Cloud news platform

  15 February 2013 | The Asset

  Chinese internet video broadcaster VODone’s V.Cloud news platform, which integrated videos, news, mobile terminal, UGC and SNS in one, has come into service. V.Cloud is a multiple media platform which owns computing, storage, searching and association function. At the same time, it also launched a new company logo and mascot which implies the core values of microvideo, news and cloud.

• Strong sentiment consolidating while equity valuations retain support, survey reports

  15 February 2013 | The Asset

  Confidence in a strong global economic outlook has consolidated while investors have indicated that they see support from current equity valuations after the recent rally, according to a Bank of America Merrill Lynch (BoAML) fund manager survey for February.

• Threadneedle unveils Asian Equity Income Fund

  08 February 2013 | The Asset

  Threadneedle has launched the Threadneedle (Lux) Asian Equity Income Fund, a Luxembourg SICAV, to complement its existing range of dividend funds and respond to investors’ strong demand for income in a low- interest rate environment.

• CPA Australia elects new divisional president for Greater China

  08 February 2013 | The Asset

  CPA Australia has elected Peter Lee as its divisional president for Greater China in 2013. Lee has over 20 years’ experience in asset management, private equity, and corporate finance in Asia, and is currently the managing director of Veco Invest (Asia).

• Overwhelming optimism in Davos

  08 February 2013 | Tan Chin Hwee

  The overall tone of the just concluded World Economic Forum annual meeting at Davos was interesting: the overwhelming consensus is optimism. Contrary to my expectations, many world leaders (48 head-of-state attended this year's session) expressed hope for a better 2013.

• Transaction banking overtakes investment, commercial banking in revenue growth

  07 February 2013 | The Asset

  Transaction banking has outperformed investment and commercial banking in terms of revenue expansion in the post-financial crisis period. To better position themselves for success, 82% of banks surveyed have reorganized their transaction banking operations in the past three years, 43% in 2012 alone.

• Three Rs drive Chinese equity markets in Year of the Snake

  The Asset January 2013 | Raymond Ma

  As expected last year, the Chinese economy seems to have bottomed out in the third quarter of 2012, thanks to the support from ongoing monetary easing. Recent signals, such as a rising purchasing managers’ index (PMI), rebounding industrial production as well as a strong recovery in housing activities, have all indicated that the Chinese economy is gradually improving and on track for a modest recovery in 2013.

• VinaCapital appoints new managing director

  07 February 2013 | The Asset

  VinaCapital has named David Blackhall as managing director for VinaLand’s (VNL) investment manager, VinaCapital Investment Management. Blackhall has taken over responsibility from David Henry on managing VNL’s portfolio of real estate investments. Henry is leaving VinaCapital to pursue career opportunities in Australia.

• StanChart Taiwan completes RMB transactions

  07 February 2013 | The Asset

  Standard Chartered Bank Taiwan has completed close to six million renminbi worth of renminbi-denominated transactions for several corporates – including Makalot Industrial Co., Eastech Electronics (Taiwan) Inc., SEF TECH Co., OHL Taiwan -- a day after domestic banks became eligible to offer renminbi related services.

• Citi develops prepaid card for Lufthansa’s agent loyalty programme

  07 February 2013 | The Asset

  Working with MasterCard, Citi has enhanced the agent loyalty programme offered by Lufthansa German Airlines, called eXperts. The programme, designed for agents who sell international travel, not only keeps members informed about Lufthansa’s latest products and services, eXperts members also benefit from exclusive fares, perks and privileges.

• Hong Kong CNH deposit rise pushes StanChart RMB Globalization Index

  07 February 2013 | The Asset

  The Standard Chartered Renminbi Globalization Index (RGI) posted another new high of 748 in December, up 2.8% from November’s 728, in part due to a significant rebound in CNH deposits in Hong Kong.

• Lenovo added as Hang Seng Index constituent

  07 February 2013 | Oliver Jones

  Hang Seng Indexes announced that from March 4, Lenovo would replace Aluminium Corporation of China (Chinalco) as a Hang Seng Index (HSI) constituent while Kunlun Energy and Want Want China Holdings would replace Air China and Chinalco as Hang Seng China 50 Index constituents.