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Rabobank appoints Asian renewables and carbon credit head
Rabobank International has promoted Jotdeep Singh to head its renewable energy and carbon credits business in Asia. Singh will be based in Singapore and will oversee transactions mainly in wind energy, biomass, solar and other renewables worth an estimated $20 billion last year, according to Rabobank.
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China unveils $585bn stimulus package
China's State Council has moved to pursue an active expansionary fiscal policy and a looser monetary policy in a bid to bolster the Chinese economy amid signs of a slowdown in economic growth elsewhere in the world.
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HSBC terminates swaps in Lehman Brothers minibonds
The Monetary Authority of Singapore (MAS) says HSBC Institutional Trust Services, trustee of Lehman Brothers' defaulted minibond notes programme, has terminated the swaps that back series 1 to 8 of the programme to remove the risk of credit events in the underlying securities.
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Korean banks to share info on FX derivatives
South Korea's markets regulator in conjunction with the country's leading banking association have set up a database that allows banks to share information on the use of financial products by their clients, including exporters. The move by the Financial Supervisory Services (FSS) and the Korea Federation of Banks came as the won hit a 10-year low against the greenback that pushed some exporters to the brink of bankruptcy due to losses on over-sized derivatives positions.
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