Trade transactions settled in the yuan may rise to $3 trillion a year by 2015 as China pushes for the wider use of its currency as an alternative to the dollar in business and finance, according to China Construction Bank Corp .
A “liquidity seizure” arising from Europe’s worsening debt crisis could drag the global economy back into recession, according to Paul Schulte , head of multi- asset strategy in Asia excluding Japan at Nomura Holdings Ltd.
CCB International Securities Ltd., the brokerage arm of China’s second-largest bank, plans to expand its research team by as much as 40 percent to meet rising demand for analysis of Chinese stocks and economy.
Paul Tudor Jones , founder of $11.5 billion hedge-fund firm Tudor Investment Corp., said a revaluation of China’s yuan would do more to cut U.S. unemployment than asset purchases by the Federal Reserve.
Infinio Group Ltd. said it will buy Ephraim Resources Ltd. for S$381.8 million ($302.6 million) by issuing new shares. The transaction will give Ephraim’s shareholders 93.1 percent of Infinio, making the deal a reverse takeover.
Group of 20 officials, including U.S. Treasury Secretary Timothy F. Geithner, French President Nicolas Sarkozy, Chinese Vice Premier Wang Qishan and European Central Bank President Jean-Claude Trichet attend a conference in Nanjing today.