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  • November 1, 2014
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  1. News - China - BANKING

    Beijing eases state-owned monopoly on credit cards

    Posted Oct 30th 2014, 01:33pm by Associated Press in Beijing

    ... statement said the move was aimed at opening up China’s financial industries. The ruling Communist Party has promised ambitious market-opening measures in an effort to make the slowing, ... in the country’s growing consumer market. Credit card transactions in China rose 30.9 per cent last year over 2012 to 13.1 trillion yuan (HK$16.6 trillion), according to an industry group, the China ...

  2. Business - Banking & Finance - BANKING

    Higher bad-loan rates tipped for Bank of China and Agricultural Bank

    Posted Oct 30th 2014, 01:00pm by DON WEINLAND

    ... the second half of the year. Industrial and Commercial Bank of China drove home worries on Wednesday over sharp increases in bad debt when it reported that its non-performing loans had jumped 9.2 per ... but that's not to say we want to completely eliminate all risk," he was quoted as saying at a financial forum yesterday. A centrally controlled asset management company this month guaranteed ...

  3. Business - Banking & Finance - BANKING

    China, Hong Kong committed to global alliance to end banking secrecy

    Posted Oct 30th 2014, 11:03pm by AFP

    ... at the Organisation for Economic Cooperation and Development. However, a number of financial centres remained a "source of concern", he said. Panama, for example, still has not set a concrete date ... which are important for Swiss industry. Thus, the holdings of wealthy citizens from poor countries will not come under scrutiny. Tax evaders could also hide behind "smokescreen" ...

  4. Business - Banking & Finance - BANKING

    China's shadow banking market third-largest in the world

    Posted Nov 01st 2014, 05:21am by Victoria Ruan

    ... according to an annual report issued by the Financial Stability Board yesterday. "Among emerging markets, the size and rapid growth of shadow banking in China warrants particular ... systemic risks to the financial system". The US had the world's largest shadow banking sector at US$14 trillion, followed by US$4.7 trillion in Britain, the Financial Stability Board ...

  5. Business - Banking & Finance - BANKING

    UnionPay's monopoly under threat as China's card market set to open

    Posted Oct 31st 2014, 06:04am by DON WEINLAND

    ... financial sector. The People's Bank of China reaffirmed its unwillingness to budge on the matter last year when it stopped MasterCard from processing yuan-denominated payments through ... it the world's largest card brand. Total mainland bank card transactions leapt 37 per cent year on year to 21.8 trillion yuan (HK$27.6 trillion) in 2012. Financial services consultant Zennon Kapron said ...

  6. Business - Banking & Finance - BANKING

    Italy fares worst as 25 major euro zone banks fail ECB health test

    Posted Oct 27th 2014, 05:19am by Reuters

    ... yesterday. A dozen of those banks have already addressed the gap by raising €15 billion over the course of this year. Italy's financial sector faces the biggest challenge with nine of its banks ... of big banks. The ECB has staked its reputation on delivering an independent assessment of euro zone banks in an attempt to draw a line under years of financial and economic strife in the bloc. ...

  7. Business - Banking & Finance - BANKING

    Alibaba gains approval to establish commercial bank in Hangzhou

    Posted Sep 29th 2014, 11:52am by Sophie Yu

    ... in the e-finance sector, though it is not among the first batch to gain approval. "I have no doubt that Alibaba will be stronger in the finance sector, with more experience in the industry and more ... because its loan business used to be restricted by the size of the registered capital of its financial arm. With the new bank, the game rules would be different. "Unlike registered capital, ...

  8. Business - Banking & Finance - BANKING

    Programme eyes new solutions in Asia-Pacific banking from start-ups

    Posted Sep 01st 2014, 04:21am by BIEN PEREZ

    ... will present their concepts to potential investors and financial industry executives. "The increasing role of technology in financial services, particularly in insurance, is driving the kind ... technologies for the Asia-Pacific banking sector under a programme organised by Accenture and backed by 10 major financial institutions. Quantum computing applications for banking, mobile data mining ...

  9. Business - Economy - BANKING

    US-UK 'war game' to simulate failure of global bank

    Posted Oct 12th 2014, 06:38am by Bloomberg

    ... to simulate the failure of a major cross-border bank as they test their defences against the type of crisis that crippled the financial system in 2008. The exercise, involving US Federal Reserve ... take part. Governments around the world are implementing a package of measures designed to put an end to publicly funded bailouts when banks collapse. The Financial Stability Board (FSB), which ...

  10. Business - Banking & Finance - BANKING

    Top state bank bosses motivated by government prospects

    Posted Sep 10th 2014, 04:05am by DON WEINLAND

    ... not to be identified due to the sensitivity of the information. State banks have made major headway in competing with global lenders for talent since the onset of the world financial crisis. But a salary cut could hurt their ability to retain talent as competition rises and the mainland attempts to transform Shanghai into a regional financial hub. In a two-year survey at one of the top mainland ...




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