A pedestrian walks past the People’s Bank of China headquarters in Beijing. Last month, the PBoC cut the reserve requirement ratio for banks by 100 basis points, encouraging them to lend more. New ban… (…
Tagged By finance
Malpass Nomination: Trump Taking Grip on World Bank, Tightening Screws on China
David Malpass, Donald Trump’s pick to lead the World Bank, is due to take part in the institution’s presidential elections during April’s Spring Meetings. Given the nominee’s criticism towards the int… ( read original story…
Expect a messy end to Trump’s trade talks with China
Financial markets are once again registering displeasure with President Trump’s trade dispute with China. In January, investors were optimistic about a resolution to the standoff by the March 2 deadli… ( read original story …)
Bank Programmer Steals $1M Using ATM Flaw
If your name is Qin Qisheng and you work for Huaxia Bank in Beijing, you spend a year taking full advantage of that loophole to withdraw over $1 million in cash. As the South China…
Trump Taps Global-Order Critic Malpass to Lead World Bank
He has pushed the World Bank to lend less to China, arguing the world’s second-biggest economy has the financial resources to support itself, and has criticized Beijing for not moving fast enough to o… (…
Bank employee used ATM loophole to score $1M in ‘free’ cash
Qisheng, 43, had been working for Huaxia Bank in Beijing when he realized in 2016 that cash withdrawals made around midnight were not recorded, the news outlet reported. So in November of that … (…
China January new bank loans seen surging as PBOC keeps liquidity taps open: Reuters poll
BEIJING (Reuters) – New bank loans in China are expected to have surged to a one-year high in the first month of 2019, a Reuters poll showed, as authorities continued to spur commercial lenders to…
Trump Will Nominate David Malpass as New World Bank Chief, Source Says
He has pushed the World Bank to lend less to China, arguing the Asian nation has the financial resources to support itself, and has criticized Beijing for not moving fast enough to open up its…
China’s inter-bank payment system passes severe test on Lunar New Year’s eve
BEIJING, Feb. 5 — China’s inter-bank payment and settlement system passed a tough test on Lunar New Year’s eve as the Chinese zealously snatched lucky money in virtual red envelopes for good fortune. … (…
Trump will nominate David Malpass as new World Bank chief
He has pushed the World Bank to lend less to China, arguing the Asian nation has the financial resources to support itself, and has criticised Beijing for not moving fast enough to open up its…
Chinese bank techie finds ATM flaw that lets him withdraw $1 million
In a turn of events no lesser than a Hollywood flick, a senior programmer with a Chinese bank managed to dupe the company of $1 million USD over a period of two years. Qin Qinsheng…
Renewed U.S.-China Trade Fears Shake-Up Financial Markets
U.S.-China trade relations dominated the news on Thursday with one White House official tempering the upbeat comments of President Trump and Treasury Secretary Mnuchin and amid reports that the … ( read original story …)
It’s time for China to grow up and leave the World Bank nest
THE WORLD BANK is a multilateral poverty-reduction institution, so it’s no surprise that World Bank loans played a significant role in China’s emergence from what was, before 1979, epic poverty. In 19… ( read original…
