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SEOUL, South Korea (AP) - Local currency bond markets in the emerging economies of East Asia have stood up well to the global credit crisis and can serve as an important source of funding for governments as they boost public spending to battle slowing economies, the Asian Development Bank said Tuesday.
SHANGHAI: The government must keep its status as the majority shareholder of state banks to ensure China's economic and financial security, a senior official said in remarks published Tuesday.
SHANGHAI, China: China's giant, state-owned banks, notorious for their huge portfolios of bad debt, weak management and antiquated service, are poised to raise billions of dollars in international stock offerings - and investors are keen to buy.
Temasek Holdings Pte, a Singapore state-owned investment company, invested S$13bil (US$7.6 bil) in the year through March, with foreign holdings now making up more than half its S$103bil portfolio, Temasek chief executive Ho Ching said.
WASHINGTON (Reuters) - U.S. lawmakers on Sunday differed over how to pay for rebuilding the Gulf Coast in the aftermath of Hurricane Katrina, in a preview of the likely battles ahead as Congress struggles with a price tag that some say could top $200 billion.