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Basel II seems to have caused a drop in Japanese banks' fund investment. But it is just a blip

Market at crossroads on covered bonds

Equity The initial public offering of China CITIC Bank Corporation has completed. It is only the second-ever simultaneous dual listing on the Hong Kong and Shanghai stock exchanges, following ICBC last year. The listing benefited from similar retail appetite to ICBC, demonstrating the depth of the Chinese domestic market. The retail portion of the global offering was more than 220 times over-subscribed. Total proceeds from the IPO were $5.4 billion and will exceed $6.2 billion if the over-allotment option is exercised in full. Freshfields Bruckhaus Deringer acted as Hong Kong and US counsel to the underwriters China International Capital Corporation (CICC), CITIC Securities, Citigroup, HSBC and Lehman Brothers. Commerce & Finance Law advised the banks on Chinese law. Skadden Arps Slate Meagher & Flom advised the company on Hong Kong and US law, with King & Wood providing Chinese law advice.

Under Japan's current Trust Law, it is uncertain whether a trust beneficial interest can be represented by a security if not specifically provided for by law (for example, the Law Concerning Investment Trusts and Investment Corporations, and the Law Concerning Securitization of Assets).

The proposed Iskandar Development Region (IDR), in the state of Johor (the southern-most state of Malaysia), was officially launched on November 4 2006 and designated as a special economic zone. The IDR comprises both greenfield and brownfield development, encompassing an area of 2217 sq km. It leverages itself on, among others, its strategic location (close to Singapore and Indonesia) and good logistics: the North-South expressway, road and rail links to Singapore, and air and sea links to Indonesia and regionally. The IDR is also bordered by three main ports: the Pasir Gudang Port, Port of Tanjung Pelepas and the Tanjung Langsat Port.

Corporate governance reform accelerates in Latin America

SEC proposals are brave but back to front

UK insolvency laws inadequate

Michael Coleman and Celine van Zeebroeck of Baker & McKenzie talk us through the process of bidding on Algerian Turkey contracts

A new model for private equity and hedge funds