Tag Archives: Chinese

This Caribbean Bank Wants Chinese Money No One Else Will Touch

The global campaign against money laundering combined with the Panama Papers made the Caribbean islands of sun, sand and offshore banking a near no-go zone for the world’s biggest banks. So the British Virgin Islands has a solution: a bank to service offshore companies, many of them from China, locked out of the global banking system by HSBC Holdings Plc, ... Read More »

VW’s Audi steps up collaboration with Chinese tech groups

Volkswagen’s (VOWG_p.DE) luxury car unit Audi has agreed to deepen collaboration with Chinese internet technology groups to offer more digital services in the world’s largest car market. Audi and FAW-Volkswagen, VW’s joint venture with FAW Car Co Ltd (000800.SZ), have signed letters of intent with Alibaba (BABA.N), Baidu (BIDU.O) and Tencent (0700.HK), Audi said on Sunday. Financial terms were not ... Read More »

Yum to sell a stake in its Chinese holdings

Yum Brands is selling a stake in its Chinese division to Primavera Capital and Ant Financial as the company prepares to separate the Chinese unit from the main business. Primavera Capital, will pay $410m (£308m) and Ant Financial, an affiliate of Alibaba, will invest $50m. The new investors will have the option to buy an additional 4% stake. Yum, the ... Read More »

Chinese bank buys secret London vault which can store $80bn of gold

A secret London vault, which can store more than $80bn (£57bn) in gold bullion, is being sold by Barclays to China’s ICBC Standard bank for an undisclosed sum. The facility is located inside the M25 and has the capacity to store 2,000 tonnes of gold. And while further details about the vault are scarce, it is said to be one ... Read More »

Nigeria may issue Chinese Panda bonds to help fund 2016 budget

Nigeria is considering a sale of Chinese Panda bonds to help fund a record budget aimed at reviving Africa’s biggest economy as it suffers a slump in global oil prices, the finance minister said on Saturday. The OPEC member, which is Africa’s No. 1 crude producer, could also dip into cash set aside for energy investment projects to help meet ... Read More »