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Daily Dispatches: European regulators put outsourcing to India under the spotlight

Outsourcing of services by Europe’s banking sector to India has come under the spotlight once again. The Swiss financial market regulator pointed to failings involving work that was given to an unnamed Indian outsourcing firm, whose report on trades should have acted as a key control for identifying suspicious trading activity. (The Hindu)

Tom Byrne, head of Moody’s Asian sovereign risk group, discusses the economic and policy challenges that China’s next leaders will face, and how they affect China’s credit profile. (Finance Asia)

Moody's Investor Service has said the merger of Bank of the Philippine Islands (BPI) and Philippine National Bank (PNB) will create a stronger entity and be credit positive for both banks. (Asian Banking & Finance)

The mechanism by which the Hong Kong interbank offered rate is set everyday is stable, but the process needs to be overseen by a third party, the Treasury Markets Association said yesterday. (The Standard)

Why Singaporeans hate rich people. (Yahoo! News)

To retain its employees, whose parents would rather their children be working behind bank counters than serving up Sumatra, Starbucks earlier this year launched a family forum, inviting parents to hear testimonies from managers who have worked their way up the career ladder. (Wall Street Journal)

A UK businessman is alleged to have conspired to bribe the former Vietnamese central bank governor by helping to put his son through university, a London court has heard. (Financial Times)

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