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. … (…
Tagged By finance
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…
Donald Trump’s pick to head the World Bank means US-China rivalry has a new front: development aid
US President Donald Trump and his nominee to lead the World Bank, David Malpass, have an issue with the manner in which the bank and other multilateral development banks do business. Specifically, Mal… ( read…
David Malpass, US nominee for World Bank president and long-time China hawk, ‘will continue to take part in trade talks’
David Malpass, a China hawk who is US President Donald Trump’s nominee to become the World Bank’s new president, will continue to play a “very important part” in trade negotiations with Beijing, senio… ( read…
China trials self-driving bus powered by 5G network to fast-track rollout
Chinese officials say China would like to be ahead of US and other countries to develop 5G telecom network to capture the markets abroad. China is conducting a test run of a self-driving bus, assisted…
China’s inter-bank payment system passes severe test
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. Ms. Sun and her hu… (…
Bank of China’s $300 mln loan to Sri Lanka faces delay – govt officials
COLOMBO, Feb 6 (Reuters) – A $300 million loan offered by Bank of China to Sri Lanka is facing delays, government officials familiar with the negotiation told Reuters. The Indian Ocean island nation, … (…
How the People’s Bank of China is changing direction and going all out to save the private sector
While the market is trying its best to guess how many cuts in the reserve ratio requirement to expect in China this year, the Chinese central bank has managed to tweak its strategy. Facing the…
Bank of China’s $300 million loan to Sri Lanka faces delay, says Govt officials
A $300 million loan offered by Bank of China to Sri Lanka is facing delays, government officials familiar with the negotiation told Reuters. The Indian Ocean island nation, a key battleground in the t… (…
Alcoa CEO Says Aluminium Market Hurt by ‘Sucking Sound’ Pulling Toward China
Financial support for China’s aluminum industry is “on an order of magnitude larger’’ than in other countries, distorting global supply and demand balances for the metal, Alcoa Chief Executive Officer … ( read original story…
