Allen & Overy has promoted 19 lawyers to its partnership across 10 offices, of which five promotions are in Asia.

Jones Day has advised Japan’s Mitsui Chemicals on its acquisition of dental products manufacturer Heraeus Dental from Germany’s Heraeus Holding GmbH for €450 million ($578 million).

Clifford Chance has advised Japanese industrial machinery maker Nabtesco Corp on its acquisition of OCLAP S.R.L., an Italian door system manufacturer.

Vietnam’s credit rating downgrade has dealt a resounding blow to a country once seen as Southeast Asia’s emerging market star. Government and state regulators in Vietnam have since pushed through several reforms to remedy the country’s troubled banking sector. The next eight months will be crucial, but several challenges still remain. Kanishk Verghese reports Additional reporting by the Reuters Hanoi Newsroom

Japanese law firm Mori Hamada & Matsumoto has strengthened its presence Japan and Singapore on the back of two new lateral hires and five promotions.

Freshfields Bruckhaus Deringer has hired corporate expert William Woo from Orrick, Herrington & Sutcliffe as a partner in its Hong Kong office.

Deacons has elected Su Cheen Chuah and Yu Wai Tung to its partnership in Hong Kong.

Baker & McKenzie has hired Seong Soo Kim as partner from Kim & Chang to bolster the firm’s banking and finance and Korea practices.

Bingham McCutchen has elected bengoshi Yukari Murayama and Goh Aizawa to its partnership in Tokyo, strengthening the firm’s finance and regulatory practice in North Asia.

Baker & McKenzie has expanded its IP capabilities in Japan with the hire of Kensaku Takase as a partner in its Tokyo office from Hogan Lovells.