Sunday 24th July 2016
NEWS TICKER: JULY 22nd 2016: Apple Inc is planning to open its first Apple Store in Taiwan, a move that comes after the U.S. technology giant raised $1.38 billion in a bond offering last month on the island that is home to many companies in its supply chain -- Taiwan stocks fell in the Asian session today after hitting a more than one-year high in the previous session, tracking losses in overseas markets. The main TAIEX index was down 0.4% at 9,019.87, after closing 0.5% higher in the previous session. Taiwan's export orders from China, in data issued earlier this week, showed slippage in June, hurt by weaker demand for displays, though not by as much as expected. Even so, the Taiwan dollar softened TAD0.019 to TAD32.079 per US dollar - Phillip Capital Group, an Asian financial services provider with $30bn 3 in assets under custody and management, has appointed BNP Paribas Securities Services to service its Singapore-based funds. BNP Paribas Securities Services is a global custodian with USD 9 trillion in assets under custody. Phillip Capital Management (S) Pte Ltd (PCM) has migrated its largest SGD money market fund to BNP Securities Services Singapore. This will help the company enhance operational efficiency and fulfil its regulatory requirements. For example, the company will be able to manage, track and report on its funds in a consistent and timely fashion. The long-term benefits will enable a standardised and scalable approach to custody services being extended into other locations for PCM. Phillip Capital Management (HK) Ltd is also working with BNP Paribas Securities Services to launch a fund in Hong Kong -- Following the event strewn Republican Convention this week, next week it is the turn of the Democrats. The Democratic National Convention is set to take place in Philadelphia from July 25th to 28th. The event is scheduled to be held at the Wells Fargo Center -- China's CSI 300 index and the Shanghai Composite both slipped about 0.5% in the Asian session today, with losses of around 1% for the week. Japan's Nikkei 225 closed down 1.1%, dragged down by the yen's 1% rally on Thursday – a trend that has been apparent all year. The index is still up 0.8% in a week in which it touched an eight-week high thanks to an initially weaker yen and expectations of fiscal and monetary stimulus, though in an interview with BBC radio this week, the Bank of Japan said that it did not believe in ‘helicopter money’ and that its current strategy was adequate to lift the economy out of its funk. The central bank’s next policy decision is expected on July 29th

Latest Video

Investment banks draw up green bond guidelines Copyright Dreamstime.com

Investment banks draw up green bond guidelines

Monday, 13 January 2014
Investment banks draw up green bond guidelines New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks. http://www.ftseglobalmarkets.com/media/k2/items/cache/63b46f1e9614c655caa7fc03ac211b27_XL.jpg

New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks.

Bank of America Merrill Lynch, Citi, Crédit Agricole CIB and JPMorgan drafted the new framework, which guides disclosing, managing and reporting on the proceeds of a green bond.

Green bonds issued by banks and corporates are proving popular with firms seeking socially responsible investments, recent figures show. High issuance in November 2013 is reported to have doubled the total raised in 2013 to nearly $10bn and positioned the market for further growth.



The new steps are set to provide issuers with guidance on the key components involved in launching a green bond and aid investors evaluating the environmental impact of their investments.

"The development of a robust and liquid market for green bonds is an important progression for debt markets," says Suzanne Buchta, global co-head of Green Debt Capital Markets at BofA Merrill. "In co-authoring these principles we attempt to help standardize the product and we hope to catalyse investment into environmentally sustainable projects, something to which our firm is very committed."

Tanguy Claquin, managing director at Crédit Agricole CIB adds: "We are very pleased to have co-authored and announced the establishment of the Green Bond Principles. This is an important first step towards a more coherent approach to the market of Green and Sustainability Bonds, which will ultimately increase its attractiveness for investors thus encouraging investments into sustainability projects."

BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho Securities, Morgan Stanley, Rabobank and SEB have all backed the principles.

The four banks that drafted the framework are set to propose a governance process that will allow for stakeholder input into the guidelines.

Read more about the Green Bond Principles here <http://www.ceres.org/greenbondprinciples> .

Related News

Related Articles

Related Blogs

Current Issue

TWITTER FEED