Dan Kubiske, chair of the SPJ’s International Journalism Committee, suggested that I blog about my experiences running a bureau out here in Shanghai, so this is it. Some background — I came to China three years ago, to run the China bureau for Securities Industry News (a weekly New York City financial newspaper). The work […]
Greetings from Shanghai, China Read More »
SHANGHAI — In the first 10 months of 2006, Chinese regulators uncovered 776 banking crimes, including 205 cases involving more than 1 million yuan ($125,000 U.S.). Fraud and other irregularities at Chinese banks added up to $95.9 billion in 2005, an increase of 31% from 2004, according to the China Banking Regulatory Commission. In one
Banking on IT in China Read More »
In a sign that the maturing of the Chinese financial markets is creating new opportunities for Western technology suppliers, SunGard Data Systems of Wayne, Pa. has acquired Shanghai-based Fudan Kingstar Computer Co. SunGard, which did not disclose the purchase price, said Kingstar’s management team would remain in place. The financial technology giant described Kingstar as
SunGard Buys Chinese Trading Systems Supplier Fudan Kingstar Read More »
The parent of the New York Stock Exchange and three other investors said last week that they will each buy 5 percent, $115 million equity stakes in the National Stock Exchange (NSE) of India, that country’s largest exchange and the third-largest in the world in terms of equity trades. The agreement came on the heels
NYSE, 3 Others Buying Stakes in India Exchange; SGX in the Wings Read More »
Agricultural Bank of China (ABC) is likely to have a greater probability of making future non-performing loans (NPLs) than China’s other big banks, experts say. To that end, it may be more of a risky investment for investors. Chinese authorities recently announced share reforms and capital injections to clean up the bank in 2007 as
Agricultural Bank of China Remains a Risky Play Read More »
From its founding on Dec. 25, 1925 as a spin-off of Osaka Nomura Bank Co., Nomura Securities grew into one of the giants of Japanese capital markets and a player on the global financial stage. But in terms of corporate structure, the firm didn’t change much until 2001, when its holding company, Nomura Holdings, was
Foreign Broker Ban Read More »
Article originally published in Insurance Networking News. Chinese insurance companies were bracing for an onslaught by global competitors last month when a commitment to the World Trade Organization dictated opening the borders to foreign competition. “Almost all insurance business is opening to foreign insurers,” says Xiaolin Li, a dean at Beijing-based Central University of Finance
Chinese Carriers Expect Onslaught Read More »
Four years ago, CEO John Cestar took a novel approach to increasing the skill levels at Freeborders, a small outsourcing provider that operates in China. He took a road trip around the U.S., looking for Chinese engineers working in U.S. companies who were interested in returning to China or would soon be compelled to do
Creative Recruiting Read More »
About two years ago, Kevin Miller needed a little help supporting legacy applications and developing new software for large automotive manufacturers. He decided to conduct a Cobol pilot project with Information Technology United Corp., a Beijing-based outsourcer with U.S. offices in Redwood City, Calif. “We’d seen their marketing and qualifications; we just wanted to do
Outsourcing in China Read More »
U.S.-based hard disk drive maker Seagate Technology International today won the prestigious Singapore Manufacturing Excellence Award. The award, presented by Singapore’s Economic Development Board in cooperation with McKinsey & Co. and the Singapore-MIT Alliance, considered such factors as product innovation, systems innovation and operational excellence. “Seagate came up tops in all aspects and is indeed,
Though its purchasing power may be on the wane, the automotive industry is still the primary buyer of robotics products. With China’s automotive sector showing strong growth, ABB’s robotics group moved its headquarters to where the action is.
The China Securities Regulatory Commission (CSRC) has said that it will issue no new licenses to brokerages set up as joint ventures with foreign firms until the country’s market reforms are completed. In a Sept. 13 statement, the agency gave no indication of when the ban will be lifted. New branches and subsidiaries of domestic
Article originally published in Insurance Networking News. Late spring 2005, the world learned that a crime ring that included call center employees of an Indian outsourcing company stole more than $300,000 from Citibank customers by tricking callers into giving up their PIN numbers. The news sent shockwaves through the industry, as India was the premier
India Tightens Security Read More »
Originally published in Computerworld. Hankscraft Inc. has been making industrial motors and mechanized pumps for more than 50 years in Reedsburg, Wis. The company came to China just three years ago but already has twice as many employees here as it has at home. Jonathan Funkhouser, who is general manager of Hankscraft’s China operations and
Bridging the Chinese Skills Gap Read More »
Originally published in Computerworld. Among the various sourcing peculiarities and problems specific to China is regionalism, says Pieter Tsiknas, director of SearchBank’s Beijing office. Read full article.
