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Crisis casts gloom over banks
 Let's face it," sighs Gabriel Singson, central bank governor of the Philippines. "The banks have become timid." After nearly two years living in the shadow of the worst economic crisis in living memory, it is not surprising that many banks in Asia have lost the confidence to lend. The result, from Thailand to Japan has been a credit crunch that has intensified the recession and left the region in the grip of serious deflation. ...more
BOND MARKETS:
Optimism over improved conditions is premature
Given the extent of mispricing in the bond markets before the Asian financial crisis, it would be foolish to read too much into the recent improvement in market conditions. ...more
MERGERS & ACQUISITIONS:
'Year of the Deal' proves disappointing
After the financial earthquake in Asia in 1997, 1998 was touted as the Year of the Deal. Multinationals were expected to grab the bargains amid the rubble, struggling local companies were supposed to seize the lifelines on offer and everyone, including the investment bankers, would live happily ever after. ...more
TADAO CHINO:
New 'home doctor' for Asia's woes
Tadao Chino was in at the birth of the Asian Development Bank. As a still relatively junior official at the UN Economic Commission for Asia he wrote a paper in 1964 that described the creation of a regional bank for Asia as "necessary and feasible". ...more
EQUITY CAPITAL MARKETS:
Investors starting to sense a recovery
Asia's equity capital markets have burst back into life as the region's restructuring takes off. From privatisations in Korea to acquisitions in Thailand, the equity capital markets have been revitalised. ...more
JAPAN:
Moody's delivers some cheer
During the past year, the word "Moody's" has provoked unease in Japan's banking world. For, as Japan has teetered on the edge of a financial crisis, the country has suffered the humiliation of watching rating agencies such as Moody's repeatedly downgrading the large Japanese banks. ...more
KOREA:
Clean-up of troubled sector not yet complete
South Korea has made mighty strides in cleaning up its troubled banks, but analysts believe more still needs to be done if they are to survive and prosper. "The Korean banking system has a long way to go before its problems are anywhere near to being resolved," said Damien Wood, of Barclays Capital in Hong Kong. ...more
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