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September 2, 2011

The global economic crisis has left Asian consumers increasingly mistrustful of foreign banks, with many preferring to use local institutions, according to new research from McKinsey. 

The global economic crisis has left Asian consumers increasingly mistrustful of foreign banks, with many preferring to use local institutions, according to new research from McKinsey.

The study, published in the latest McKinsey Quarterly, comes at the same time as many multinational banks are focusing heavily on growing their presence in Asian markets, amid a rise in the number of wealthy individuals in the area.

September 1, 2011

The number of high net worth individuals in Asia looks set to soar over the next four years, thanks to currency appreciation and massive economic growth in the continent, according to a new report. 

The number of high net worth individuals in Asia looks set to soar over the next four years, thanks to currency appreciation and massive economic growth in the continent, according to a new report.

Swiss private banking group Julius Baer said wealth in the region is expected to triple in the next few years to $15.81 trillion from $5.60 trillion, while the number of high net worth individuals will jump to 2.82 million from 1.16 million.

August 19, 2011

Family businesses are likely to be one of the key forces driving an increase in wealth in India over the next decade, according to a financial expert. 

Family businesses are likely to be one of the key forces driving an increase in wealth in India over the next decade, according to a financial expert.

Val Srinivas, head of research for the Deloitte Center for Financial Service, said demographic trends, as well as general economic growth, are providing greater opportunities for businesses and fueling the rise in millionaires in India and China.

July 11, 2011

The family behind Chinese snack and candy maker Hsu Fu Chi International is planning to reduce its stake in the company and enter into a joint venture with food giant Nestlé, as part of the family’s strategy to develop the group’s brand.

The family behind Chinese snack and candy maker Hsu Fu Chi International is planning to reduce its stake in the company and enter into a joint venture with food giant Nestlé, as part of the family’s strategy to develop the group’s brand.

In a statement issued by Nestlé on 11 July, the group said it plans to acquire 60% of Hsu Fu Chi, while the Hsu family will own the remaining 40%. Nestlé will pay around €1.5 billion for the acquisition.

March 16, 2011

Clean technology is fuelling a boom for metals with names seemingly from the comic strips of superman. Collectively known as rare earths, David Wigan takes a look at what exactly are these weird metals and asks whether it is possible to make money out of them

In the year 1219, after uniting the tribes of Mongolia, Genghis Khan dispatched 450 men to the town of Otrar, in present-day Kazakhstan, to trade. The local governor Inalchuq executed the group, and later beheaded Khan’s ambassador, sent to request an apology. Khan’s response was to raise an army and embark on the most brutal and successful military campaign in history. Inalchuq was executed by the application of molten silver to his ears and eyes.

February 10, 2011

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

January 26, 2011

Stanley Ho, the Hong Kong and Macau-based casino king, has often been a controversial figure during his long career as one of East Asia’s better-known entrepreneurs.

Stanley Ho, the Hong Kong and Macau-based casino king, has often been a controversial figure during his long career as one of East Asia's better-known entrepreneurs.

According to some sources, the casino and property entrepreneur has allegedly been linked to the Chinese organised crime group, the Triads, and allegedly collaborated with the Japanese during World War II.

Not the sort of background – it might be felt – you would want hung out for wider scrutiny.

January 25, 2011

Macao casino billionaire Stanley Ho has accused his family of stealing his shares in SJM Holdings without his consent, raising debate about who would succeed Ho in the billion-dollar business.

Macao casino billionaire Stanley Ho has accused his family of stealing his shares in SJM Holdings without his consent, raising debate about who would succeed Ho in the billion-dollar business.

A filing with the Hong Kong stock exchange reveals that Ho's shares in the holding company have been divided between his wives and children. Ho, chairman of SJM, said through his lawyer that he had not authorised this transfer of shares to his family.

January 18, 2011

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, announced on 17 January plans to list its new entity, Port Holdings Trust. The initial public offering could be Singapore’s biggest ever and add significantly to the fortunes of Hong Kong’s wealthiest man.

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, announced on 17 January plans to list its new entity, Port Holdings Trust. The initial public offering could be Singapore’s biggest ever and add significantly to the fortunes of Hong Kong’s wealthiest man.

The world’s largest container-terminal operator plans to list its deep-water port holdings in Hong Kong and southern China, while still retaining a 25% stake in the trust that currently owns the terminals.

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