Asia

Banking on IT in China

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

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SunGard Buys Chinese Trading Systems Supplier Fudan Kingstar

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

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NYSE, 3 Others Buying Stakes in India Exchange; SGX in the Wings

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

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Chinese Carriers Expect Onslaught

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

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Creative Recruiting

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

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Outsourcing in China

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

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Seagate Award

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,

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Brokers on Hold

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

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