The case is centred around diamond billionaire Nirav Modi who is accused of colluding with bank employees to fraudulently obtain advances for payments to overseas suppliers to his business stretching from New York to London…
Tagged By finance
William Pesek: What’s on the agenda for China’s next central bank chief
With China’s widely respected central bank head retiring at any moment, Beijing is increasingly abuzz over who will replace Zhou Xiaochuan: a fellow-minded progressive to modernize the economy or a Communist Party lackey? Zhou, China’s…
China’s central bank says has cut leverage, but will continue to fight risks
BEIJING (Reuters) – China’s central bank said on Wednesday it has achieved initial results in financial deleveraging but will continue to fend off systemic risks as debt levels in the economy remain relatively high. “The…
China central bank skips open market operations, liquidity ample
BEIJING – China’s central bank suspended open market operations for the 16th working day Wednesday as liquidity remained ample. The liquidity in the banking system was at a “relatively high” level, said the People’s Bank…
China’s central bank says will continue to fend off financial risks
BEIJING (Reuters) – China’s central bank said on Wednesday it will continue to fend off systemic financial risks even though it has achieved initial results in financial deleveraging. Debt levels in the economy remain relatively…
Chinese New Year: Will China remain top dog of the stock markets in the coming 12 months?
He said that despite recent stock market volatility China should benefit from continuing strong growth in the world economy, as President Xi Jinping presses ahead on economic reforms: “Global economic and financial conditions will ensure…
China’s non-financial ODI maintains double-digit growth
[Photo/Agencies] BEIJING – China’s non-financial outbound direct investment (ODI) maintained a double-digit growth in January, the third consecutive monthly increase, official data showed Tuesday. Chinese investors made 69.5 billion yuan ($11 billion … ( read…
Beijing sees more community-based bank branch closures
such as transactions of financial products and payment for water and electricity.However, all the services are accessible online. A resident of Beijing’s Xicheng District surnamed Wang, said that about half of the bank branches in…
China’s experience in inclusive finance helpful to other countries: report
BEIJING – China’s experience in groping for a sustainable development pattern of inclusive finance is helpful to global financial regulators, a report said Sunday. The report, jointly released by the People’s Bank of China and…
China to strengthen regulation over Internet finance businesses
BEIJING – China will continue to strengthen regulation over the country’s mushrooming Internet finance businesses in 2018 to facilitate long-term development of the industry, the National Internet Finance Association (NIFA) has said. Instead of conducting…
China names JPMorgan Chase as yuan clearing bank in U.S
BEIJING (Reuters) – China’s central bank on Tuesday named JPMorgan Chase & Co. (JPM.N) as yuan clearing bank in the United States, as Chinese authorities seek to boost global use of the yuan. The pick…
China may soften curbs in financial sector to protect economy
In Photo: Nanjing, China, prides itself with its modern buildings, including the country’s seventh-tallest, Zifeng Tower (left), which stands at 450 meters high and 66 floors. China may be forced to soften efforts to curb…
Beijing warns on trade tensions as it aims at US chemical
Trade tensions between the world’s two biggest economies rose again on Tuesday as Beijing accused Washington of “excessive protectionism” after targeting imports of a key chemical from the United States. The administration of US President…
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