The Weekly News Update is a weekly roundup of business news from around the Asia-Pacific region, covering Fusion Consulting's core industry practices: chemicals, consumer & retail, financial services, industrial & logistics, information & communication technology, life science and media & leisure. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.       Merging with the Mainland: China's M&A opportunities   M&A activity in China continues to surge, thanks to strong economic growth and  private equity activity. With regulatory changes in 2006, several sectors should see  further M&A action in 2007 and beyond. Find out where the opportunities lie.

Financial services

Hong Kong - Hong Kong and Dubai sign Islamic finance pact Source: Asian Investor, 7 April 2008 Hong Kong's Securities & Futures Commission (SFC) has signed an Islamic finance pact with the Dubai Financial Services Authority (DFSA). The initiative aims to enhance access to Islamic financial products in Hong Kong and the Dubai International Financial Centre. Elsewhere in Asia, Malaysia also has a mutual recognition agreement with the DFSA - the first such pact between two Islamic markets for the cross-border distribution and marketing of Islamic funds. Hong Kong wants to develop an Islamic bond market amid fast-growing investor interest in products that comply with sharia or Islamic law. In November 2007, the SFC authorised Hong Kong's first Islamic fund for sale to retail investors, the Hang Seng Islamic China Index Fund. India - PNB to go solo in credit cards Source: The Hindu, 6 April 2008 Punjab National Bank (PNB) has decided to go on its own with the credit card business, following delay from the Reserve Bank of India (RBI) in granting them approval for the joint venture with American International Group and Venture Infotech Global. PNB will launch the credit card business by October 2008. Sources revealed that RBI may not be very comfortable with PNB's tie-up with foreign partners for the credit card business since they do not have full regulatory control over the JV which would fall in the NBFC category. Among other Indian banks, State Bank of India and Bank of Baroda have separate subsidiaries for credit card business, while Bank of India is considering it. Korea - Insurers up capital to boost market share Source: Korea Herald, 7 April 2008 Competition among multinational insurance companies in Korea is expected to heat up, as competitors are poised to increase their capital to boost their market position. AIG Life Insurance Korea was given W59.6 billion (US$61 million) for its operational costs on 27 March 2008 from its US headquarters. Last month, Met Life Korea secured W112 billion (US$115 million) in capital, while New York Life Insurance gained W28.5 billion (US$29 million). Capital is key to an effective strategy to gain market share. Industry observers believe that such a trend in capital growth shows the promising potential which foreign insurance companies see in the Korean insurance market.     View an example of our experience in this industry. Back to list of articles.  Visit our website to sign up for free intelligence on Asian markets.

This Weekly News Update is a free newsletter, providing a round-up of the week's Asia-Pacific news from our core industry practices. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.

Fusion Consulting is a business intelligence consultancy providing clear strategic advice on Asia-Pacific markets. With offices in Shanghai, Singapore and Hong Kong and 400 industry consultants in 16 countries, we conduct custom research and consulting to help companies understand their markets, compete more effectively and grow into new areas of opportunity. Email more@fusionc.com or visit www.fusionc.com for more information.