IPO Report
Zhongwang targets at least $1.2 billion from IPO
Offered at a slight premium over its closest competitor, the aluminium extrusion products manufacturer is set to become the largest IPO globally year-to-date.




Business Moves
Bank of America fails to convince with $4.2 billion Q1 profit
Bank of America relies on trading gains at Merrill Lynch as loan losses mount.


People Moves
India is hit hard in Nomura downsizing
The investment bank lets go of nine people in India, including three MDs.




Business Moves
UBS outsources Indian small- and mid-cap research
Noble will produce Indian equity research to complement UBS's existing large-cap output.


Private Banking
Survey sees softer growth in wealth management revenues
The industry's bright spots are China and India, which are viewed as the most attractive markets in Asia.