Mongolia successfully established a benchmark curve with its $1.5 billion debut bond early Thursday morning, after raking in an astounding $15 billion of orders. One banker joked that Mongolia has more yaks than people. It is not far from the truth. The landlocked country has a gross domestic product of just $8.5 billion, so orders were roughly twice the size …

China’s manufacturing contracted for an 11th straight month, a private survey found, increasing pressure on the government to bolster growth in the world’s second-largest economy. The purchasing managers’ index from HSBC Holdings Plc (HSBA) and Markit Economics was at 47.9 for September from 47.6 in August. Export orders declined at the fastest pace in 42 months and purchasing activity in …

MANILA, Philippines –  Asian banks are in a mad scramble to raise US dollars to meet the stiff capital requirements under the Basel III framework. Banks are sweeping as much dollars as can be found in the global market as European borrowers are holding on to their dollars “during these hard times.” According to FinanceAsia, Asian borrowers want a steady …

SINGAPORE—Moody’s Investors Service cut Vietnam’s credit rating further into junk territory, citing risks that the government will have to pump money into the country’s banks and the sector’s limited ability to support the economy. Moody’s on Friday downgraded Vietnam by one notch to B2 with a stable outlook and said risks to the rating were balanced going forward. It also …

Tasmanian Premier Lara Giddings says she is looking to Asia to drive the next economic boom after the collapse of the once mighty timber company Gunns. Gunns’ voluntary administration and the closure of the only abattoir on King Island has left more than 200 workers in the island state facing an uncertain future. It has forced Tasmanians to refocus their …

Asian currencies had the best quarter in two years after global policy makers announced plans to pump money into financial markets to support growth, spurring capital flows into higher-yielding assets. The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s most-active currencies, rose 1.8 percent since June 30 as the Federal Reserve, the European Central Bank and theBank of Japan (8301) expanded …

SINGAPORE — Oil prices rebounded in Asian trade Thursday on bargain-hunting but escalating turmoil in debt-wracked Greece and Spain limited gains. New York’s main contract, light sweet crude for delivery in November was up 39 cents to $90.37 a barrel in morning trade after closing overnight below $90 a barrel for the first time since August 2. Brent North Sea crude …

First Foreign Non-Financial Company To Issue Commercial Paper in Offshore Renminbi Market HONG KONG–(BUSINESS WIRE)– UPS (UPS) has executed a commercial paper transaction denominated in the offshore Renminbi currency, creating a new financial vehicle to fund growth projects in China. The issuance last Friday, known as a CNH-denominated commercial paper transaction, totaled CNH 630,000,000 and is the first by a …

LOS ANGELES — Any foreign movie knocking on China’s door must pass through powerful gatekeepers — the China Film Group and its chief executive, Han Sanping. The China Film Group functions as the Chinese government’s guardian of a film market that recently shot past Japan’s to become the world’s second-largest in box-office receipts behind the United States. On a broad …

China, Russia signed 27 trade deals worth $15 billion, Chinese Vice Premier Li says China, Russia should explore different field of cooperation, Li says Both countries should boost trade volumes and mutual investment, Li says WARSAW (Dow Jones)–China and Russia have signed 27 trade contracts worth $15 billion, as the two countries seek to deepen their trade and investment links, …