Search Results for: China's ICBC
China’s top bank raided in Spain over money laundering
February 18th, 2016
Five employees of China’s biggest bank have been arrested in Spain on suspicion of laundering money across Europe. Police made the arrests Wednesday after raiding the offices of the Industrial and Commercial Bank of China in Madrid. One of ...
ICBC Standard Bank buys Deutsche’s London bullion vault – sources
January 11th, 2016
ICBC Standard Bank growing bullion footprint Chinese-South African lender looking to become bullion clearer ICBC Standard Bank is buying the lease on Deutsche Bank’s London gold and silver vault, enlarging its footprint in the city’s bullion market, four industry ...
China’s ICBC to open clearing bank in Russia to boost yuan-ruble trade
December 15th, 2015
The world’s largest bank by assets and market cap, China’s ICBC, is planning to open a clearing bank in Russia for trade settlements in yuan and rubles. “ICBC, as the biggest bank dealing with CNY business in ...
Asian stock markets trade mixed; commodities weigh
December 3rd, 2015
Asian stocks trimmed losses Thursday as oil prices edged up from an over three month low, although the mood remained cautious ahead of key economic events overseas. U.S. crude prices clawed back gains and was up 43 cents or 1.08 ...
‘Too big to fail’ Chinese banks face $400 billion capital call
November 11th, 2015
China‘s four biggest banks may have to raise up to $400 billion to meet new global capital rules, an onerous task that could pressure them to slow down lending at a time when Beijing wants them to help prop ...
Nikkei, Shanghai outperform lackluster Asia
November 9th, 2015
Asian stocks diverged on Monday, with markets in China and Japan leaping to their highest levels since August 21 while other regional bourses wobbled after below-view trade figures released at the weekend from China. October exports fell 6.9 percent from a ...
Asian stocks mixed on possible December rate hike
November 5th, 2015
Asian stocks put up a mixed performance on Thursday, after Federal Reserve chair Janet Yellen said that December’s monetary policy meeting would be a “live possibility” for a rate hike if upcoming economic data were supportive. Yellen was testifying before the ...
Asian stocks fall after tepid China PMI survey
November 2nd, 2015
A general view of market boards at the ASX Exchange Centre in Sydney, Australia. Asian stocks mostly slipped into the red on Monday, as investors digested a private survey which showed China‘s mammoth manufacturing sector remaining in a tough ...
China turns to Islamic finance to expand economic clout
September 22nd, 2015
Islamic finance is gaining prominence as a channel for China to expand its economic influence abroad as banks strengthen ties with Muslim-majority countries and Chinese companies start to tap offshore pools of Islamic funds. With a Muslim population of ...
Gold Price Slips as China Adds Another 16 Tonnes of Bullion
September 8th, 2015
Gold prices slipped in quiet trade in London on Monday, retreating near the lowest levels since mid-August at $1119 per ounce as European stock markets held flat, ignoring another sharp drop in Asian equities. New data overnight showed China’s People Bank growing ...
