China

The Basel Committee on Banking Supervision overhauled its current bank-trading book rules for banks.

Shareholders in the largest milk producer in China sold nearly 5.2% stake. A group of shareholders raised nearly HKD855. 4 million or USD110 million from the sale of 5.

The term sheet indicated a USD150 million note with a maturity of five years for Modern Land offered to the bond market.

Deutsche Bank China was granted an interbank bond settlement license. An interbank bond settlement agent license was obtained by Deutsche Bank China from the People's Bank of China.

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CVC Capital Partners would be acquiring a 69% ownership stake in Chinese restaurant chain South Beauty Investment Co Ltd for USD300 million, sources said.

An anonymous People's Bank of China (PBOC) official had met with local money dealers in the bank's efforts to stave off investor worry about rising short-term rates.

A stockholder of NQ Mobile Inc filed a case against the Chinese firm for incurring losses after a research report said NQ had inflated its revenues.

General Motors Co said there were no problems with its partnership with Shanghai Automotive Industry Corp.

After accepting Yue Xiu Group's takeover bid, shares of Chong Hing Bank dropped the most in five weeks.

Despite saying the deal is finalized, a Dongfeng executive said it may take a bit more time before its completion.

Henan Dayou Energy said the country's regulators were investigating them for disclosing information illegally.

Wal-Mart said in its press conference that it would be focusing more on its e-commerce business to curtail effects of China's slowing retail market.

Sun Life Everbright Insurance Co, the joint venture firm between Canada-based Sun Life Financial and state-controlled China Everbright Group, would turn a profit by 2015.

Share trading of Chong Hing Bank and its parent company were suspended temporarily pending confirmation of the sale of the bank to Yue Xie Group.

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