text: Daily Dispatches - Singapore's commodity exchange gets shot in the arm from ICE deal
  Daily Dispatches – Singapore's commodity exchange gets shot in the arm from ICE deal
  IntercontinentalExchange Group, the NYSE-listed exchanges and clearing houses business, has bought Singapore Mercantile Exchange for $150 million cash. Singapore's Business Times says the move could present new competition for the Singapore
  https://news.efinancialcareers.com/cn-en/155836/daily-dispatches-singapores-commodity-exchange-gets-shot-in-the-arm-from-ice-deal/
  IntercontinentalExchange Group, the NYSE-listed exchanges and clearing houses business, has bought Singapore Mercantile Exchange for $150 million cash.
  Singapore's Business Times says the move could present new competition for the Singapore Exchange (SGX) but the commodities futures market has been and remains a challenge for all domestic players.
  "The acquisition of SMX represents an important step in ICE's growth trajectory as we look to expand our customer base and markets in Asia by establishing a local exchange and clearing presence," ICE chief strategy officer David Goone said in a statement. "In recent years, Asia-based trading activity in our benchmark energy and interest rate products has been rising as the region increases in importance in global markets."
  JPMorgan bails on Everbright IPO
  JPMorgan Chase & Co has withdrawn from plans to manage China Everbright Bank's Hong Kong share sale, Bloomberg says, apparently due to an investigation into the firm's 'princeling' hiring practices in China.
  The deal – valued at $2 billion – would be the largest first-time offering by a Chinese lender in Hong Kong since 2009.
  China wants to take on global insurance hubs with Shanghai Free Trade Zone
  The newly established Shanghai Free Trade Zone (FTZ) will be positioned as a testing ground for China's offshore insurance market, and will challenge existing international insurance centres for business, according to the head of the Shanghai bureau of the China Regulatory Insurance Commission (CIRC),Fei Guang in an article in the Asia Insurance Review.
  He says the SFTZ wants to take on Japan, Singapore, and Hong Kong among others.
  CBC plants a flag in New Zealand
  New Zealand's Reserve Bank says ICBC New Zealand, a subsidiary of the Industrial and Commercial Bank of China, has registered in the country, making it New Zealand's 23rd bank, according to a Banking Day report. ICBC is the world's largest bank by asset and market value. It has yet to open its own offices in New Zealand.
  Analysts say only HSBC out of all the Hong Kong's banks will show profit improvement
  Macquarie Equities Research says it expects only HSBC to post an improvement in profitability, according to Asian Banking and Finance. The other HK banks are expected to see a further deterioration in operating return on assets.
  Women in MNCs miss out on overseas postings
  Australia's Financial Review reports that women working in multinational ­companies are not receiving as many overseas assignments as men, ­according to new survey by consultancy firm EY.
  The Global Mobility Effectiveness Survey found that while women make up 23% of the worldwide employees in the organisations surveyed, only 15% of people receiving long-term overseas assignments are female.