NEW YORK (Reuters) – The closing deadline for China Oceanwide Holdings Group Co’s (0715.HK) proposed purchase of Genworth Financial Inc (GNW.N) has been extended for a second time, to April 1, to allow them to…
Tagged By financials
Back to school: China kindergarten weathers child abuse storm for now
SHANGHAI/BEIJING (Reuters) – When RYB Education Inc became enmeshed in allegations of child abuse at one of its Beijing kindergartens, it touched off an angry online furor in China, a police inquiry and a precipitous…
China has ‘grave concerns’ about North Korea’s latest missile test
China’s Foreign Ministry has expressed what it called “grave concern and opposition” to North Korea’s latest missile launch in an unusual rebuke of its neighbor and ally.Ministry spokesman Geng Shuang said the country hoped “all…
China and France Talk Economy and Finance in Beijing
Beijing, Nov 28 (Prensa Latina) China and France will engage this week in a fifth high-level dialogue on Economy and Finance as part of the visit here of French Minister of the sector, Bruno Le…
China’s economy still facing relatively large downward pressure: banking regulator
BEIJING (Reuters) – China’s economy is still facing relatively large downward risks that may become apparent by early 2018, a senior official of the banking regulator said on Wednesday. Yu Xuejun, head of the China…
China Development Bank Files Insolvency Suit Against RCom
China Development Bank, which lent close to $1.78 billion to Reliance Communications (RCom), has filed an insolvency suit at the National Company Law Tribunal’s (NCLT’s) Mumbai bench after it defaulted on loans. Indian lenders would…
China Development Bank Drags Indian Telco to Bankruptcy Court
With the filing of the insolvency notice, all of the hopes beleaguered Reliance Communications had for an out-of-court settlement have been dashed. No potential buyer has approached the Indian Telco, which owes the China Development…
Chinese State Bank Adds Pressure to Debt-Laden Indian Wireless Carrier
The debt woes of one of India’s leading wireless carriers Reliance Communications Ltd. have deepened this week thanks to an unlikely new source of pressure—a leading state-owned Chinese bank. It emerged late Monday that China…
Forget cash, face scanning is the new wallet in China
Chinese banks dealt with 8.6 billion payments from mobile services in Q2, up 40.5 percent from a year ago, the People’s Bank of China said. The combined value of mobile payments jumped 33.8 percent to…
China’s financial groups opened to foreign owners
Courtesy demands reciprocity, as the Chinese saying goes. US president Donald Trump was effusively courteous during his visit to China last week, at one point describing Xi Jinping, his Chinese counterpart, as a “very special…
ICBC Teams Up With JD.com to Offer Digital Banking Services
Customers will be able to request credit services such as proof-of-deposit slips through the online platform, the Beijing-based bank said in a statement Monday. The logistics unit of JD.com will deliver the documents to the…
Beijing Rage Over Child Abuse, Evictions Shows Pressure on Xi
Volunteer networks have sought to provide shelter and food to migrants. Beijing is shifting its economy into higher value industries including technology and finance, and is striving to improve its living environment to attract top…
Beijing is Making Its Most Serious Effort Yet to Tackle Its Financial-System Issues
Beijing is coming to grips with its Wild West-like financial system—not a moment too soon, many would argue. The jittery market reaction shows just how delicate that operation is going to be. The timing isn’t…
ADVERTISEMENT
