Arab Today, arab today asian commodities still insulated from crisis
Last Updated : GMT 10:34:12
Arab Today, arab today
Arab Today, arab today

Asian commodities still insulated from crisis

Arab Today, arab today

Arab Today, arab today Asian commodities still insulated from crisis

Singapore - Arabstoday

Asia\'s commodities business is still largely insulated from looming fears of yet another global financial crisis, although new projects might face difficulties in getting financing. All of the ten banks and oil trading houses contacted said it is business as usual in the market — from moving ahead with big-ticket infrastructure projects to maintaining the same credit requirements for derivatives trading and trade-finance. Hiring has also been going ahead, with some banks adding staff in Asia even as they cut in other regions. \"There\'s been little change in recent weeks, other than the usual seasonal factors,\" said Dominic Mound, general manager at Singapore-based international recruitment firm Commodity Appointments. Article continues below \"Taking the long view I would say that business is reasonable... all the turmoil has done is heighten the awareness of risk and the need to have competent people to manage that risk.\" The oil derivatives market, normally a sound gauge of sentiment, has yet to see any significant tightening of credit in direct bilateral trades or by clearing members of exchanges, while trade volumes remain at two-year high levels. Banks in the Asian trade-financing sector are still aggressively chasing business and dispensing loans, as they had been since the 2008 financial crisis ended. \"There is the usual chatter about the global situation, but no one has really done anything drastic, at least overtly anyway. It\'s just business-as-usual,\" a Singapore-based oil derivatives trader said. \"In the oil swaps market, for example, there has been no slowdown in activity, and no change to credit requirements, either between direct counterparties or through clearing houses.\" There had been some personnel cuts by at least three international banks since the start of the year, although none of the three are traditionally strong in the commodities business, either in Asia or globally. Japan\'s Nomura Bank shut its commodities desk earlier this year, while Credit Suisse has trimmed the size of its Asian team to a skeleton crew and Bank of America had also axed some Asian personnel as part of a larger global culling. Credit Suisse, the UK\'s Barclays Bank, UBS, and HSBC, all Europe-based banks, have cut several thousand jobs each globally, but their Asian offices have been spared the worst of the culling, with some still hiring. HSBC cut 30,000 jobs globally but is hiring 15,000 in Asia and Brazil, and UBS announced 5,000 redundancies across the world but is hiring 1,000 in China, Hong Kong and Taiwan. What job cuts took place in Asian commodities were attributed more to an overcrowded marketplace. \"Those guys that shut or trimmed their businesses were never big players in the commodities market here,\" a Western investment banker said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian commodities still insulated from crisis Arab Today, arab today asian commodities still insulated from crisis

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday