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Ding Xuedong, Chairman of China’s sovereign wealth fund, CIC, resigns

February 24, 2017

BEIJING – Caixin has reported that Ding Xuedong, Chairman and CEO of China’s sovereign wealth fund, China Investment Corp. (CIC), has stepped down, according to people with knowledge of the matter. It’s still not clear who will take his position at the US$810 billion CIC and what Ding’s future plans are, Caixin said.

HSBC appoints new CEOs to Australia, Singapore

February 23, 2017

SYDNEY --  Martin Tricaud has been appointed Chief Executive of HSBC Australia with effect
from April 3, succeeding Tony Cripps, who will become Chief Executive of HSBC Singapore on 3 April 2017. Cripps will continue as a Board member of HSBC Bank Australia. Tricaud has been President and Chief Executive of HSBC Korea since 2013, and prior to that was HSBC’s Global Head of Multinationals, Global Banking and Markets, based in London (ATI).

Policy uncertainty weighs on world trade, says World Bank paper

February 21, 2017

WASHINGTON — Global trade growth has continued to be slow for a fifth consecutive year, with 2016 showing the weakest trade performance since the 2008-2009 global financial crisis. According to a new paper, preliminary data suggest that world merchandise trade grew by a little more than 1% in 2016 compared to 2% in 2015 and 2.7% in 2014. 
Nevertheless, the growth of services trade continued to be relatively resilient, and recovered slightly following a decline in 2015, according to a new World Bank paper, Global Trade Watch: Trade Developments in 2016.