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OCBC Signs 10-Year Agreement with China's Bank of Ningbo

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Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has entered into a new 10-year strategic cooperation agreement with China's Bank of Ningbo to capture growing business, trade, wealth, and investment opportunities across ASEAN and Greater China, according to a Thursday statement.

Under the partnership, the two banks will continue to collaborate in areas of wholesale banking and wealth management.

Under the new 10-year agreement, OCBC, which holds a 20% stake in Bank of Ningbo, will also continue its $5 million training grant, first established in the 2006 agreement, for talent development with Bank of Ningbo.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
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China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

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TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

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TPE:1795