Infrastructure banker Frederic Thomas has left the Asian Development Bank (ADB) to join Glenn Fox’s infra debt investment division at HSBC Global Asset Management in London. Thomas spent seven years at the ADB in Manila, where he was senior investment specialist, working on project bonds and green bonds for the multilateral lender. Meanwhile Jackie Surtani has... View Article

Xu Zhong, head of the People’s Bank of China’s (PBOC) research bureau, said: “China’s overall leverage is rising at an alarming pace, especially in the financial sector,” in commentary published in leading China business journal, Caijing Magazine. Leverage, the practice of borrowing multiples based on asset valuations, was widely considered to be a key factor... View Article

Indonesia’s President Joko Widodo is expected to attend the G20 Summit in Hamburg in early July, Asia House has heard. Less than a year ago, the EU Commission and the then Indonesian Minister of Trade, Tom Lembong, announced to officially launch the negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with completion targeted for 2019.... View Article

The North American Free Trade Agreement (NAFTA) looks set for a fresh round of negotiations after the White House signalled it had “agreed not to terminate NAFTA at this time”, according to BBC reports. The statement contradicts media reports on Tuesday that US President Trump was preparing an executive order to end the agreement, which... View Article

The Asian Development Bank (ADB) issued a US$4bn bond on Wednesday in its largest ever deal, soaking up demand from international investors for Sovereign Supranational Agency (SSA) exposure to the multilateral’s portfolio. The mega benchmark issue beats the record US$3.25bn bond issued by the Manila-based lender in its 2016 funding round on the global capital... View Article

The Chinese Foreign Ministry has drafted a communique for the Beijing ‘Silk Road’ summit ‘leaders’ roundtable’ on May 15, stating support for the World Trade Organization, reports Reuters. The communique backs globalisation through “upholding the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system with the WTO at its core.” The statement is likely to... View Article

Japanese car manufacturer Toyota announced plans to produce compact cars in Thailand as part of its emerging markets car strategy, reports the Bangkok Post. Thailand’s Deputy Prime Minister Somkid Jatusripitak said that Toyota planned a record investment in the country’s automotive industry, although no figure was specified. The move comes after Toyota’s acquisition of Daihatsu... View Article

Toshihiro Nikai, Secretary General of Japan’s ruling Liberal Democratic Party (LDP), will attend China’s ‘Belt and Road’ summit in Beijing in May, it was announced at a Tokyo news conference today. Hiroshige Seko, Japan’s Trade Minister, has also received an invitation to attend, and Sadayuki Sakakibara, Chairman of business lobby Keidanren, will also be represented.... View Article

Myanmar’s Ministry of Construction has called for international firms to tender for work on the Yangon-Nay Pyi Taw-Mandalay Highway, according to The Myanmar Times. The highway connects the country’s largest city, Yangon, and second largest city, Mandalay, to the capital, Nay Pyi Taw. The project, which is the renovation of the first 40 miles of... View Article

China Daily has openly criticised a move by the US administration to review steel imports from the country in a protectionist strategy to boost US steelmakers. The newspaper quotes the US President, saying: “For decades America has lost our jobs and our factories to unfair foreign trade,” Trump said. “And one steel mill after another... View Article