Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for about S$5 billion ($3.7 billion), bringing the U.S. bank closer to its goal of exiting retail operations in 13 markets. The proposed acquisition by Singapore's UOB will be its biggest in two decades and double its retail customer base in the four markets in Southeast Asia, where the bank already has a substantial presence and competes with larger rivals including DBS Group and OCBC.
Singapore Airlines is aiming to raise $500 million to $750 million in a U.S. dollar bond deal, two sources with direct knowledge of the matter told Reuters on condition of anonymity as the information was not yet public. Singapore Airlines confirmed it had hired banks to explore a deal, without commenting on its potential size. The airline said, in an emailed response to Reuters, that it had mandated Citigroup Inc and DBS to lead the transaction, and BNP Paribas as well as Standard Chartered to be book runners.
* Japan's equity markets closed for a holiday * Singapore stocks up for third day on bank rally * South Korean shares fall 1%, hit lowest since Dec. 2 * S.Korea won firms on expectation of rate hike this week By Anushka Trivedi Jan 10 (Reuters) - The rupiah led modest gains among emerging Asian peers on Monday as top thermal coal exporter Indonesia considered lifting its export ban on the commodity, while financials drove Singapore shares up by 1%. Currency markets in Asia fluctuated as liquidity was thinned by a holiday in Japan. Malaysia's ringgit and the Indian rupee firmed 0.2% each, while Singapore and Taiwan's dollars traded flat.