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  • July 24, 2014
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  1. MIDDLE EAST

    Arafat’s remains said to be exhumed on Tuesday

    Posted Nov 24th 2012, 08:39pm by Associated Press in Ramallah, West Bank

    ... Associated Press in Ramallah, West Bank The remains of former Palestinian leader Yasser Arafat will be exhumed on Tuesday as part of a renewed investigation into his death, a Palestinian ... tomb in Arafat’s former government headquarters in the West Bank city of Ramallah. The Palestinian Authority, the self-rule government in the West Bank, had hesitated before agreeing to exhume ...

    http://www.scmp.com/article/1090044/arafats-remains-said-be-exhumed-tuesday
  2. News - China - BRICS

    BRICS group of nations sets up development bank to rival IMF, World Bank

    Posted Jul 16th 2014, 09:36am by AFP

    ... billion development bank by granting China its headquarters and India its first rotating presidency. Brazil, Russia and South Africa were also granted posts or units in the new bank. The leaders ... Monetary Fund and the World Bank, where BRICS countries have been seeking more say. "The BRICS are gaining political weight and demonstrating their role in the international arena," ...

    http://www.scmp.com/news/china/article/1555232/brics-development-bank-be-headquartered-shanghai-first-president-indian
  3. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, George Chen

    ... Don Weinland and George Chen CCTV accuses Bank of China of providing money laundering service Citic Bank also moves money overseas, say sources A day after Bank of China (BOC) was accused by the state broadcaster of breaking foreign exchange rules by helping people take money out of the country, it has emerged a second state bank has also been offering the service. Industry sources told ...

    http://www.scmp.com/business/banking-finance/article/1550351/bank-china-laundering-money-would-be-emigrants-cctv-reports
  4. Business - Economy - ECONOMY

    World Bank chief backs launch of BRICS bank

    Posted Jul 09th 2014, 05:20am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com World Bank chief says new entrants will help the multilateral lender battle poverty and spur growth rather than threaten its position Kim backs launch of BRICS bank World Bank president Jim Yong Kim welcomed the initiatives of establishing two new multilateral lenders, saying they would not pose a threat to the Washington-based ...

    http://www.scmp.com/business/economy/article/1549975/world-bank-chief-backs-launch-brics-bank
  5. Business - Banking & Finance - BANKING

    Alibaba teams up with mainland banks to offer loans to SMEs

    Posted Jul 23rd 2014, 01:33am by Sophie Yu

    ... that its online trading subsidiary Alibaba.com will team up with seven mainland banks to offer loans to small and medium-sized enterprises (SMEs) based on their online credit. The seven banks are Bank of China, China Merchants Bank, China Construction Bank, Ping An Bank, Postal Savings Bank of China, Bank of Shanghai and Industrial Bank. This is the first time traditional banks ...

    http://www.scmp.com/business/banking-finance/article/1557338/alibaba-teams-mainland-banks-offer-loans-smes
  6. Business - Economy

    Japan government's lowered economic growth forecast in line with central bank

    Posted Jul 23rd 2014, 01:33am by Reuters

    ... Reuters in Tokyo Government estimates in line with central bank, which says consumer prices will continue to rise Japan government lowers economic growth forecast Japan's government ... with the Bank of Japan's projections. Members of the government's top advisory panel, the Council on Economic and Fiscal Policy (CEFP), did not object to the BOJ's view that consumer ...

    http://www.scmp.com/business/economy/article/1557377/japan-governments-lowered-economic-growth-forecast-line-central
  7. Business - China Business - INTERNET

    Chinese head for online banking services as Weibo users shrink

    Posted Jul 23rd 2014, 01:33am by James Griffiths

    ... James Griffiths james.griffiths@scmp.com Online banking surge clouded by risks on mainland The number of online financial services users on the mainland jumped 56.4 per cent to 292 million in the first half of the year, but a warning of potential risks to growth was signalled by a further heavy slump in microblogging in the wake of a government crackdown. Internet-based banking ...

    http://www.scmp.com/business/china-business/article/1557339/chinese-head-online-banking-services-weibo-users-shrink
  8. Business - Banking & Finance - REGULATION

    HKMA chief defends strict banking rules

    Posted Jul 22nd 2014, 12:29am by DON WEILAND

    ... hits back at criticism The chief executive of the Hong Kong Monetary Authority defended the city's strict banking rules as some of the best in the world, amid a flurry of recent international concern over the territory's banking system. The International Monetary Fund last week criticised the HKMA's lack of independence from Hong Kong's executive branch, which ...

    http://www.scmp.com/business/banking-finance/article/1557112/hkma-chief-defends-strict-banking-rules
  9. Business - Banking & Finance - DEVELOPMENT

    Competing interests between BRICS nations could lead to challenges for new bank: analysts

    Posted Jul 21st 2014, 03:18am by Daniel Ren, Teddy Ng, KRISTINE KWOK

    ... leaders from five emerging economies celebrated the birth of a new bank on the block. The New Development Bank is intended to rival Western-led financial institutions and become a more sympathetic ... nations, and the bank's relatively small initial capitalisation, present obstacles, they say. Founded by Brazil, Russia, India, China and South Africa, the bank will start lending by 2016 ...

    http://www.scmp.com/business/banking-finance/article/1556937/new-brics-bank-face-tough-challenges-analysts-say
  10. Business - Banking & Finance - BANKING

    BOC beefs up in push for larger share of debt market

    Posted Jul 17th 2014, 01:22am by BLOOM

    ... Bloomberg BOC beefs up in push for larger share of debt market Bank of China is hiring traders and sales people as it sets up a high-yield bond trading platform to boost market share ... a deputy general manager for global markets at Bank of China (Hong Kong). Wang said the mainland's fourth-largest lender was seeking to grow as companies stepped up offshore fundraising ...

    http://www.scmp.com/business/banking-finance/article/1555493/boc-beefs-push-larger-share-debt-market

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