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IPO Report
China Railway Construction IPO on track
The construction and infrastructure company aims to raise as much as $5.3 billion from its dual A-share and H-share listing.




IPO Report
REC shows investors haven't abandoned Indian IPOs
The power project financing company raises $410 million amid strong demand two weeks after waning interest forced other listing candidates to withdraw.


M&A Briefing
HDFC Bank acquires Centurion for $2.4 billion
The all-share takeover of Centurion Bank of Punjab creates India’s second largest bank by number of branches, but the share-swap ratio disappoints shareholders.




In Debt
Philippines closes landmark warrant sale
The sale of warrants allows bondholders to convert to peso-denominated debt ahead of risk-weighting increases on foreign-currency debt due to Basel II compliance.


Outlook & Economics
Krugman warns of lasting housing downturn
House prices could fall by 30% between now and 2010, destroying $8 trillion of wealth, says the Princeton economist.




Business Moves
New bank faces old problems in Japan
The debacle surrounding Shinginko Tokyo bank shows that the reluctance to price capital correctly is still a problem in Japan.


Business Moves
Swiss bank obtains Qatar licence
Switzerland's Bank Sarasin receives a banking licence for a subsidiary in the Qatar Financial Centre.


People Moves
Bank of America appoints FIG head in Korea
Bo-Hee Hur takes over from Hong Hoo Moon as the senior banker in charge of financial institutions coverage in Korea.


Standard & Poor's Daily Ratings Direct Asia-Pacific Highlights
Welcome to Standard & Poor's daily summary of credit research of interest to investors in Asia-Pacific.