Russia has overtaken China as the fifth-biggest sovereign holder of gold, allowing it to diversify its foreign currency holdings amid a deepening rift with the U.S. The Bank of Russia in January increased its holdings…
Tagged By banking
Recent Surge In Chinese Bank Credit Reflects Necessary Crackdown On Shadow Banking
In addition, large-scale, sustainable growth does not appear to be on the horizon as China continues to struggle with high levels of debt and insufficient reform. Shadow banking has retrenched somewhat due to increased regulatory…
China tries to bring order to sprawling online finance sector
SHANGHAI — China’s 1.2 trillion yuan ($189 billion) internet finance industry has reached a turning point as regulators tighten regulations after one too many cases of bankruptcy and fraud. Some analysts are predicting a shakeout…
Xi picks team of problem solvers to head China’s economic portfolios
His team will comprise economic technocrats drawn from China’s banking and financial system, appointed to various senior positions to oversee the country’s central bank, lenders, as well as the stockbroking and insurance industries. While the…
Islamic Development Bank to join forces with China-led AIIB
The largest development organisation in the Muslim world, the Islamic Development Bank, is set to ramp up its fundraising activities and form a partnership with the China-led Asian Infrastructure Investment Bank to address a yawning…
China’s Brics-Plus partnership could transform global trade
China, South Africa (Brics) is becoming the glue for new inter-regional trade alliances. However, despite the creation of a common New Development Bank by the Brics, and other initiatives to boost economic ties between members,…
China Exports Hold Up as Commodities, Base Effects Boost Imports
Economist Takeaways “High imports are related to base effects and rising commodities prices, which may give a lift to domestic inflation this year,” said Liao Qun, chief economist at China Citic Bank International Ltd. in…
MARKET BUZZ: Tencent, China Banks Lift Hong Kong’s HSI
HONG KONG (Feb 21) — Hang Seng up 0.7% at 31,094.98, led by mainland lenders and Tencent. China Construction Bank, Bank of China and Industrial & Commercial Bank of China rise by at least 1.2%…
China’s Development Bank registers at AIFC
ASTANA – Astana International Financial Centre’s (AIFC) Financial Services Regulatory Committee recently registered the Development Bank of China, which makes it the 10th participant of the centre. It is expected that by the end of…
Hong Kong stocks end firmer, H-shares rise ahead of China reopening
As of the previous close, the Hang Seng has declined 6.12 percent this month. ** The top gainers among H-shares were Agricultural Bank of China Ltd up 4.18 percent, followed by China Citic Bank Corp…
India’s City Union Bank CEO says suffered cyber hack via SWIFT system
A third totaling $1 million was sent through a Bank of America account in New York to a China-based bank, which Kamakodi on Sunday identified as Zhejiang Rural Credit Cooperative Union in Hangzhou, China. Kamakodi…
need2know: Great Indian bank fraud and other macro cues for your day on D-Street
In January, Beijing outlined its ambitions to extend the initiative … banks could take a hit of more than $3 billion pertaining to $1.8 billion Punjab National Bank fraud, is false. “News appearing in certain…
Dissecting China’s Banking Sector
Deutsche Bank (DB) recently hosted its Access China 2018 conference which the management of the top five banks in China attended. The management of each bank shared the outlook of the bank on key metrics…
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