HKMA deputy chief executive Arthur Yuen said about 50 companies had expressed interest in applying for the virtual bank licence, while purely online lender WeLab and payment platform Yedpay! have separately told the South China…
Tagged By financials
Investors shrug off central bank’s monetary policy move
[Photo/China News Service] Bank stocks fall as PBOC’s quasi-easing on June 1 seen as being silent on rates The quasi-easing of China’s monetary policy on June 1 has not encouraged investors to raise their holdings…
China Oceanwide’s $2.7 Billion Takeover of Genworth Financial Passes U.S. Security Review
WASHINGTON—A U.S. national security panel approved a Chinese conglomerate’s $2.7 billion takeover of Richmond, Va.-based insurer Genworth GNW 2.42% Financial Inc., after the companies convinced authorities they would take extraordinary steps to secure … (…
Narendra Modi in China highlights: Bank of China’s first branch to open in Mumbai
Chinese President Xi Jinping has accepted Prime Minister Narendra Modi’s invite to India for an informal summit next year, Foreign Secretary Vijay Gokhale said on Saturday. While addressing the media on the meeting between the…
Committee on Foreign Investment in the United States Completes Review of Proposed China Oceanwide and Genworth Financial Transaction
RICHMOND, Va., June 9, 2018 /PRNewswire/ — China Oceanwide Holdings Group Co., Ltd. (Oceanwide) and Genworth Financial, Inc. (GNW) today announced that the Committee on Foreign Investment in the United States (CFIUS) has completed its…
Narendra Modi in China LIVE updates: Bank of China’s first branch to open in Mumbai
Chinese President Xi Jinping has accepted Prime Minister Narendra Modi’s invite to India for an informal summit next year, Foreign Secretary Vijay Gokhale said on Saturday. While addressing the media on the meeting between the…
China is in Trouble
1 In comparison with those of Western economies, China’s countermeasures against the crisis in 2008 were significantly more drastic. While in the US the balance sheet total of the banking system increased by USD 4,000bn…
Currency swap: CBN orders Banks to open Renminbi accounts in China
Currency swap: CBN orders Banks to open Renminbi accounts in China – The Central Bank of Nigeria (CBN) yesterday released the operational guidelines for the $2.5 billion currency swap agreement between Nigeria and China. The…
China Factory Inflation Picks Up on Rising Commodity Prices
Has The ‘Bad Bank’ Idea Made A Comeback? Homebuyers As Financial Creditors: An Inelegant Solution? Morgan Stanley’s Jonathan Garner On The Bull Case For India Ridham Desai On What’s Making The Market Suspicious About Growth…
Naira To Strengthen on Back of China Currency Swap
in three years under the U.S.$2.5 billion bilateral currency swap with the Peoples Bank of China. The deal is expected to reduce the demand for U.S. dollars by Nigerians importing goods from China, and consequently…
Status to not change for China’s banks with overseas investments
China’s banking and insurance regulator clarified that the institutional status of Chinese banking institutions will remain unchanged after they receive investments from overseas financial institutions. It means that the regulations for such banking … (…
China to scrap limits on foreign holdings in banks, asset management companies
The caps on foreign holdings in such financial institutions will be removed, according to a statement from the China Banking and Insurance Regulatory Commission Friday. The restrictions were 20 percent for a single overseas institution…
Central bank to commence auctioning Chinese yuan
The Central Bank of Nigeria (CBN) on Thursday, released guidelines for the bilateral currency swap agreement between Nigeria and China. The CBN gave the guidelines in a document signed by its Director, Financial Markets Department,…
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