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ICBC sets new record with Lion City bond issue

[SINGAPORE] Industrial and Commercial Bank of China's (ICBC) latest offshore yuan offering scored a couple of firsts, while proving there is ample demand for such issues in the market. ICBC on Tuesday said its Singapore branch has issued a total of four billion yuan (S$821.4 million) of Lion City hybrid bonds. Not only will it be the biggest Lion City bond issuance - breezing past the two billion...


Singapore and London seen joining HK as top yuan hubs

SINGAPORE'S efforts to boost its status as an offshore yuan hub could help it become a dominant global player within five years, according to an analyst. Mr Fred DiCocco, the Asia-Pacific head of sales and relationship management at BNY Mellon's Treasury Services, said Singapore and London can catch up with market leader Hong Kong, which has a 71 per cent market share. Mr DiCocco pointed out that...


MAS poll: 2014 GDP growth cut to 3.3%

[SINGAPORE] Economy watchers polled by Singapore's central bank have cut their 2014 growth forecast to 3.3 per cent, following a disappointing second quarter. But some economists warn that more downgrades could still come in, as the Republic grapples with restructuring pains amid a patchy global recovery. Professional forecasters, polled by the Monetary Authority of Singapore (MAS) from...


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