Home | Business News | Browse by Publication | L | Los Angeles Business Journal

Union Bank places major Asia wager: currency exchange has potential to provide bonanza.

Publication: Los Angeles Business Journal
Publication Date: 16-APR-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Union Bank places major Asia wager: currency exchange has potential to provide bonanza.(Union Bank of California N.A.)

Article Excerpt
Foreign trade deficits are soaring. American firms are investing heavily offshore in Asia and elsewhere. And Macau's handle now trumps the volume of bets placed in Vegas.

For many, these financial events are bad news for the U.S. economy, but in the world of foreign currency exchange--and especially for Union Bank of California--it's paydirt.

The bank's Los Angeles foreign exchange desk, Southern California's largest, is gearing up to handle what it expects will be an explosion of growth as individuals and businesses convert U.S. dollars to Asian currencies and vice versa.

In particular, the resorts on Macau are now taking in a record $8 billion in revenue, allowing the island in the South China Sea to surpass Las Vegas as the world's largest...

Access Full Article, Compliments of Goliath

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Los Angeles Business Journal
L.A. floats plan for massive cruise liners of future; proposed termina..., April 16, 2007
... And now as you all go forth into the world ...(Commencement ceremo..., April 16, 2007
Network net: Party Goddess finds success--by partying.(Up Front), April 16, 2007
Shop for smaller guys moves into the big time.(Jimmy Au's), April 16, 2007
BHP Billiton LNG International Inc.(California State Lands Commission ..., April 16, 2007

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.