Tag Archives: China

RBI allows Bank of China to offer regular banking services in India

Mumbai: The Reserve Bank of India (RBI) on Thursday allowed Bank of China to offer regular banking services in the country. All commercial banks, like SBI, HDFC Bank, Punjab National Bank and ICICI Bank, are in the Second Schedule. Banks falling under this schedule have to adhere to the norms of the RBI. “We advise that the ‘Bank of China Limited’ ... Read More »

China worries slam stocks, rising supply hits oil

Global stock markets tumbled on Monday after Caterpillar and Nvidia Corp warned of weak Chinese demand while oil posted its biggest one-day drop in a month on expectations of growing US crude supply. Equities also were slammed by plunging shares of Brazilian miner Vale SA, which lost some $19.3 billion of its market value following the collapse of a tailing ... Read More »

Australia warned China against ‘intimidation’ in the South China Sea after a tense standoff with a US destroyer

Australia is warning Beijing not to use “intimidation or ­aggressive tactics” after a Chinese destroyer challenged a US Navy warship during a tense standoff in the South China Sea. The Chinese ship faced off with the US Navy’s Arleigh Burke-class destroyer USS Decatur on Sunday during a close encounter near Gaven Reef in the disputed Spratly Islands. US officials described the showdown as “unsafe,” claiming that the ... Read More »

Market holds out hope someone will blink before China and US take another step toward a trade war

Andy Wong | AP In this Nov. 9, 2017, file photo, U.S. President Donald Trump, right, chats with Chinese President Xi Jinping. The stock market is waiting to see who might blink first in the week ahead — the White House or Beijing. From all appearances, the U.S. is moving ahead to put tariffs on $34 billion in Chinese goods ... Read More »

China files trade complaint with WTO against US steel tariffs

China has filed a World Trade Organization complaint challenging US President Donald Trump’s tariff hike on imported steel and aluminum, the trade body said Tuesday. The tariff spat is one element of a wide-ranging trade dispute between Trump and Chinese President Xi Jinping’s government. Trump also has threatened to increase duties on $50 billion of Chinese goods in a separate ... Read More »

China stock regulator gives nod for 5 IPOs worth $1b: Media reports

China’s stock market regulator has approved five new initial public offerings (IPOs), which will aim to raise a total of no more than 6.7 billion yuan ($1.05 billion), the official news agency Xinhua reported on Saturday. Zoy Home Furnishing Co Ltd, Jiayou International Logistics Co Ltd and Hebei Yangyuan Zhihui Drinks Co Ltd will all list on the main board ... Read More »

China to overtake US economy by 2032 as Asian might builds: report

The growing importance of Asia’s major economies will continue in 2018 and beyond, according to a league table that sees the region dominating in terms of size in just over a decade. The report by the Centre for Economics and Business Research in London sees India leapfrogging the UK and France next year to become the world’s fifth-biggest economy in dollar ... Read More »

Shareholders sue Australia’s Crown Resorts over China marketing

SYDNEY (Reuters) – Australian casino operator Crown Resorts Ltd (CWN.AX) was slapped with a class action lawsuit on Monday for allegedly failing to inform shareholders of a marketing campaign in China that resulted in staff arrests and a slump in the share price. FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex ... Read More »

China Home Prices Stop Three-Month Drop as Market Stabilizes

Chinese home prices rose in more cities in October, snapping a three-month decline, a sign the market is stabilizing amid government efforts to curb property speculation. New-home prices, excluding state-subsidized housing, climbed in 50 of the 70 cities tracked by the government, compared with 44 in September, the National Bureau of Statistics said on Saturday. Prices fell in 14 cities ... Read More »

Once a farmer, this eco-warrior takes on big business in China

64-year-old taught himself law Wang Enlin, an elderly farmer who left school when he was 10 years old and taught himself law armed with a single textbook and dictionary, makes for an unlikely eco-warrior. Yet the 64-year-old is determined to reap justice as he readies for a fresh battle in his war with a subsidiary of China’s largest chemical firm, ... Read More »