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SEC delays Chicago Stock Exchange sale nod; AMP's H1 net profit declines 15%


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SEC delays Chicago Stock Exchange sale nod; AMP's H1 net profit declines 15%

* A three-member commission of the U.S. Securities and Exchange Commission has again delayed a decision on a US$22.0 million bid by China-based Chongqing Casin Enterprise Group to acquire Chicago Stock Exchange Inc., despite SEC staff recommending an approval for the bid.

* Funds managed or advised by Blackstone Group LP's tactical opportunities business, Singaporean sovereign wealth fund GIC and Massachusetts Mutual Life Insurance Co. have agreed to acquire Goldman Sachs Group Inc.'s entire shareholding in Rothesay Life Plc.

* Philippine Savings Bank offered to sell a 20% stake in Sumisho Motor Finance Corp. to GT Capital Holdings Inc. for 379.92 million pesos at 94.98 pesos per share. Sumisho Motor Finance is a joint venture between Philippine Savings Bank, PSBank Retirement Fund, Sumitomo Corp. and Sumitomo Philippines.

* AMP Ltd. posted a 15% year-over-year decline in net profit attributable to members in the first half. Net profit for the period stood at A$445 million, down from A$523 million for the year-ago period.

* Visa Inc. applied for permission run bankcard clearing operations in China, as part of efforts to achieve long-term growth in the country, the South China Morning Post reported. This is the first such application by a foreign entity in China.


* The China Banking Regulatory Commission is drawing up a draft of proposed guidelines for the disposal of commercial lenders' bankruptcy risks, the China Securities News reported.

* Analysts estimate that China's CPI growth will stand at 1.5% for 2017 and that the current prudent and neutral monetary policy would be the most suitable during the year, Reuters reported. The country's National Bureau of Statistics said the consumer price index rose 1.4% year over year in July.

* Bank SinoPac (China) Ltd. opened a branch in Guangzhou, the bank's second branch in China, the United Daily reported.


* Three Japanese venture capital firms will invest a total of between ¥2 billion and ¥3 billion in new financing channels using virtual currencies, The Nikkei reported.

* Hana Financial Group Inc. has launched a new KEB Hana Card Payment unit in Japan to process WeChat Pay transactions for Chinese visitors in Japan, The Chosun Ilbo reported.

* Meiji Yasuda Life Insurance Co. posted a year-over-year rise in consolidated net surplus attributable to the parent for the fiscal first quarter ended June 30 to ¥35.73 billion from ¥35.07 billion. The group reported an ordinary profit of ¥56.62 billion, compared with an ordinary loss of ¥66.68 billion in the prior-year quarter.

* South Korea's Kakao Bank will expedite its plan to increase capital to keep up with rapid loan growth, Money Today reported. The company originally planned to raise share capital of up to 400 billion won in early 2018.


* Indonesian President Joko Widodo has signed an e-commerce roadmap that will provide guidelines for the country's digital economy sector, The Jakarta Post reported.

* PT Bank Tabungan Negara (Persero) Tbk will expand its digital banking service to gradually reduce its cost of funds, The Jakarta Post reported.

* Swiss lender Banque Lombard Odier & Cie SA and Union Bank of the Philippines established a risk-based asset fund in the Philippines under a recently formed partnership, DealStreetAsia reported.


* U.S.-based Norwest Venture Partners and Sequoia Capital India invested 1.35 billion rupees apiece with their purchase of a 10% stake each in Chennai, India-based lender Five Star Business Finance, Mint reported. The nonbanking finance company raised a total of 3.33 billion rupees via an equity investment.

* New India Assurance Co. Ltd. filed a prospectus for an IPO as the company looks to sell a 14.56% stake, Mint reported. The stake sale, which is expected to be worth about 100 billion rupees, will see the government selling 96 million shares while the company will issue 24 million new shares.

* Union Bank of India will raise 20 billion rupees through a public issue, private placement and rights issue. The lender is looking to raise capital from the issuance within fiscal 2017-18.


* The Reserve Bank of New Zealand kept its official cash rate unchanged at 1.75%, citing global economic growth in recent quarters, although inflation and wage outcomes remain subdued across advanced economies.

* Commonwealth Bank of Australia Chairperson Catherine Livingstone reiterated that the lender did not commit any violations deliberately or for commercial motives and that CBA had spent A$125 million on strengthening its internal systems, The Sydney Morning Herald reported.


Middle East & Africa: Incumbent takes lead in Kenya election; Qatar Insurance unit to launch IPO

Europe: Munich Re Q2 profit drops 25%; Vantiv, Worldpay reach deal; Ageas Q2 profit down

Latin America: Argentina maintains benchmark rate; Bancolombia income down 10.85%

North America: Pacific Premier buying Plaza Bancorp for $226.3M; Wells facing more scrutiny

North America Insurance: Goldman selling Rothesay Life stake; Anthem to submit data breach response plan

Sally Wang, Jonathan Cheah, Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.

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