Tycoon Ambani’s lending unit gets off the ground with a $19 billion valuation. Bajaj Finance, the current leader, is gunning for 30% growth.
Tagged By banking
Beijing Hyundai puts Chongqing plant up for sale
Beijing Hyundai Motor has put its Chongqing plant up for sale at a starting price of 3.68 billion yuan ($505 million), as the South Korean automaker rejigs its strategy in China amid fierce price …
China’s $87 trillion banking system in spotlight after rate caution
Market participants have become alarmed in recent weeks over signs that a two-year liquidity crisis among China’s real estate developers is feeding through into the country’s $US2.9 trillion so-called …
China’s rate caution shines light on $56tn banking system
But a subsequent call by the People’s Bank of China for banks to be allowed to make a “reasonable profit” helps explain why smaller-than-expected reductions to core lending rates were unveiled on …
Wall Street Sees No End to Yuan Losses Despite Beijing Pushback
(Bloomberg) — While Beijing moves to stabilize the yuan, Wall Street still sees plenty of room for the Chinese currency to fall. Most Read from Bloomberg Borrowers With $39 Billion in Student Loans …
China’s general public budget revenue up 11.5% in first seven months
BEIJING — China’s general public budget revenue increased 11.5 percent year-on-year to around 13.93 trillion yuan ($1.94 trillion) in the first seven months of this year, official data showed Monday.
China allocates subsidies for autumn grain fertilizer, pesticide sprays
BEIJING — China’s finance ministry has allocated 2.4 billion yuan (about $329.7 million) in subsidies for fertilizers, pesticides and other agricultural sprays to help ensure a bumper harvest of …
China’s economic slump gives US a chance to gain clout with countries indebted to Beijing: analysts
Beijing unlikely to overtake US ‘in any significant measure of economic power’ in next two decades, influential Washington advisory panel hears Private-sector lending for Global South infrastructure …
How Scary Is China’s Crisis?
A Chinese economic crisis might even have a small positive effect on the United States, because it would reduce demand for raw materials, especially oil, and as a result possibly reduce inflation.
China’s economic troubles are a result of the post-2008 ‘debt supercycle’ finally coming back to bite it, Harvard economist says
China’s economic troubles are the result of a major debt bubble that first began in 2008, according to top economist Kenneth Rogoff.
China cuts lending rates again as it works to curb economic slowdown
China has slashed a benchmark interest rate in response to mounting economic woes in yet another sign that Beijing is concerned about its country’s trajectory.
Another Wall Street bank cuts China growth forecast as rate moves disappoint
UBS has followed a string of Wall Street banks that have cut their growth forecasts for China. Monday also saw troubling moves on the lending-rate …
Chinese Stocks Drop. China’s Central Bank Delivered an Unwelcome Surprise.
The People’s Bank of China reduced its one-year loan prime rate by 0.1 percentage point to 3.45% while the five-year rate was kept unchanged at 4.2%, disappointing investors.
