(Bloomberg) — Get updates from Bloomberg on WhatsApp. Sign up here. China’s on a bullion-buying spree. The world’s second-largest economy expanded its gold reserves for the fourth straight month, … ( read original story …)
FINANCE
EU official confronts China on trade promises
A top EU official has voiced frustration over China’s trade policies ahead of a summit this week as Brussels struggles to get Beijing to deliver on commitments to open up its market to European ……
China to step up bank reserve ratio cuts to help small firms
BEIJING/SINGAPORE (Reuters) – China will step up its policy of targeted cuts to banks’ required reserve ratios to encourage financing for small and medium-sized businesses that play a key role in … ( read original…
China’s new credit rating system will even monitor people’s utility bill payments
A new consumer credit rating system being developed by China’s central bank could go so far as to record whether people have paid their utility bills, according to a state media report. The People’s ……
China’s March forex reserves rise 7-month high to $3.099 trillion
China’s forex reserves expanded marginally,” China’s forex … as foreign inflows into the country’s financial markets look set to boost the currency. Chinese stocks have rallied more than 20 percent … ( read original story…
World Bank board approves U.S. Treasury’s David Malpass as next president
This time around, bank board members had said there was little appetite for a challenge to a U.S. candidate from developed economies such as Europe and Japan, and from larger emerging markets such as ……
Japan’s Nomura axing jobs, bank branches to cut costs by $1-billion
The plans include pursuing “strategic growth opportunities” in China, where the bank last week received regulatory approval to set up a majority-owned brokerage joint venture. For the year ended in … ( read original story…
Trump’s pick to head the World Bank wins election
He has complained that the bank was lending too much money to China at the expense of poorer nations that do not have the same access to global capital markets as China. However, in his…
Commonwealth Bank of Australia Purchases 4,884 Shares of Yum China Holdings Inc (YUMC)
Commonwealth Bank of Australia raised its position in Yum China Holdings Inc (NYSE:YUMC) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange … ( read original story…
Donald Trump’s nominee David Malpass, a World Bank sceptic who wants loans to China cut, is elected to lead the global lending organisation
David Malpass, the Treasury official nominated by US President Donald Trump to head the 189-nation World Bank, was elected to the job on Friday. Malpass was approved unanimously by the bank’s … ( read original…
U.S. conducted secret surveillance of China’s Huawei, prosecutors say
U.S. authorities claim Huawei used Skycom to obtain embargoed U.S. goods, technology and services in Iran, and to move money via the international banking system. The charges against the company … ( read original story…
World Bank board elects U.S. Treasury’s Malpass as next president
This time around, bank board members had said there was little appetite for a challenge to a U.S. candidate from developed economies such as Europe and Japan, and from larger emerging markets such as ……
Trump nominee wins job to run World Bank
a priority that could cause friction with the World Bank’s more affluent borrowers, including China. “The poorest countries face the steepest challenges. In sub-Saharan Africa, the number of people … ( read original story …)
