Word: asia
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Dates: during 2000-2009
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...Also on Sept. 22, another Japanese bottom fisher took a step it had been preparing for since spring, when Kenichi Watanabe, CEO of Nomura Holdings, began raising a $5.6 billion war chest to increase his firm's international footprint. Tokyo's biggest investment bank said it would buy the Asia operations of Lehman Bros., the bankrupt Wall Street firm, and was in negotiations to take over its European operations as well. The $225-million deal saves the jobs of about 3,000 Lehman employees, some of whom expressed surprise as well as relief that they might keep their jobs...
...Because many other Asian countries are growing at least three times as fast, most analysts view Nomura's acquisition of Lehman's Asia assets for $225 million as a steal. MUFG, too, was already looking beyond Japan for growth. In August, it paid $3.5 billion to buy the remaining 35% of Union Bank of California that it didn't already own. Union Bank of California has a relatively healthy balance sheet and its stock is undervalued, analysts...
...region might be safe for now, what the future holds is unclear. Asia's economies, though far from recession, are decelerating as a result of the overall global slowdown. That could lead to problems at home, including rising nonperforming loans. "Asian banking systems might have dodged the turmoil from the U.S. subprime crisis but they are not immune to economic slowdowns," Standard & Poor's concluded. In these turbulent times, avoiding one bullet doesn't necessarily save you from others...
...June, and Dahal, who only a few years back was a fugitive in his own country, was sworn in as Prime Minister on Aug. 18. From the ashes of a civil war that claimed over 13,000 lives, his Maoist-led government now intends to revitalize one of Asia's poorest nations, swapping talk of armed revolution with praise for capitalist industry. They want to transform Nepal, a country whose landscape holds untold potential both for tourism and hydropower, into what one Maoist official described as "the Switzerland of Asia...
...Dahal and Nepal's new breed of politicians "have not forgotten that the Chinese were once not on their side," says S.D. Muni, India's leading Nepal expert. They know that as Asia's two giants grow and flex their muscles, Nepal must deftly maneuver between them. Dahal's trip to India has also yielded a raft of new investment proposals, which tellingly preceded the Maoist-led government's announcement of its first budget on Sept. 19. "Anybody in power in Kathmandu would know that they need India more than China," says Muni. "The China card is played simply...