Asian Development Bank News
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Alstom SA, the third-largest maker of power equipment, won’t receive World Bank-funded contracts for two of its units for three years after acknowledging payment misconduct on a Zambian project, the lender said.
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The Asian Development Bank said it is in talks with donor countries to fund at least $12 billion required for loans and grants to projects in poor countries from 2013 to 2016.
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The Asian Development Bank plans to sell bonds in pounds due December 2015, according to a banker involved in the transaction.
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China’s inflation unexpectedly accelerated in January on the boost to spending from a weeklong holiday, limiting room for monetary easing as Europe’s debt crisis damps exports and the property market cools.
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With Asia’s elderly population poised to double within four decades, more money is being plowed into preserving wealth than enhancing growth, driving up demand for the region’s bonds that are beating returns on stocks.
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Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, will buy 4.8 percent of Trade & Development Bank of Mongolia LLC to help the lender develop as the economy expands.
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Sri Lanka unexpectedly raised interest rates to contain credit growth and inflation after the island’s economy expanded the most since at least the 1970s following the end of its decades-long civil war.
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Skandinaviska Enskilda Banken AB and Daiwa Securities Group Inc. have underwritten the most green bonds since the securities were first issued in 2007, indicating the dominance of Swedish and Japanese banks in the market.
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Bangladesh pledged to further curb credit growth as it stepped up the fight against an inflation rate that has exceeded 10 percent each month since March.
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Bangladesh’s army foiled an attempt by former and serving officers to oust Prime Minister Sheikh Hasina Wajed’s government, a military spokesman said.
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