The case is centered 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 financials
HNA Group sells part of its stake in Deutsche Bank
Deutsche Bank this month again appealed for investors to be patient … Conglomerates like HNA once enjoyed government support and cheap cash as Beijing sought to push them to become global champions, but China abruptly…
Indian police conduct searches in widening probe in bank fraud case
PNB has said companies tied to both retailers, whose outlets stretch from New York to London to Beijing, were the recipients of loans from several other banks based on guarantees provided by it. Meanwhile the…
Union Bank has $300 million exposure to PNB fraud
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 NY to London to…
India’s jeweller to Hollywood stars, now accused of massive bank fraud
Mehta further said he has not come to the bank “personally” and “we have requested to him to … Hawaii have since been added to a stable that stretches from NY to London to Beijing.…
Indian bank cheated of US$1.8b in complex fraud
The bank had sought 100 percent cash margins for issuing LoUs … Apart from India, he has boutiques in cities including New York, London, Beijing, Hong Kong and Singapore. However, whether they travelled together has…
CBI widens probe into $1.8 billion bank fraud
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…
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…
