Search Results for: Bank of China
China Forex Losses Jump 13-Fold as Investors Brace for More
April 6th, 2016
Continued yuan depreciation’ to hurt bottom lines: Schroder Air China, Agile Property to cut exposure to dollar debt The impact of August’s yuan devaluation has shown up in Chinese publicly traded companies’ annual results — and investors are bracing ...
IMF warns that an economic crisis in China could cause global recession again
April 5th, 2016
An economic crisis in China could result in a world-wide recession, warned the International Monetary Fund (IMF). This was because China’s financial links with the rest of the global economy was set to increase, the organisation said ahead of ...
Samsung becomes latest firm to launch mobile wallet in China
March 29th, 2016
Samsung has officially launched its mobile wallet service in China, in co-operation with local vendor UnionPay. Instead of using cards, the service allows shoppers to use their smartphones to pay for in-store purchases. Last month, Apple launched its own ...
Oil to rebound to around $50 by year end – Saxo Bank
March 28th, 2016
Several factors are helping oil prices gain ground The past two months of oil price volatility have taken its toll on the financial markets, with the main culprits for this dramatic price fall being excess production, concerns about a ...
China Looks at Introducing Tax on Foreign Currency Transactions
March 24th, 2016
China is looking at introducing a tax on foreign currency transactions, among other measures, to curb speculative capital flows, even though outflows have recently slowed, a senior foreign-exchange regulatory official said Tuesday. Wang Yungui, the head of the regulation department ...
Shareholders of J.P. Morgan and Citigroup will vote about the potential the banks break up into smaller pieces
March 17th, 2016
The proposal will be included in the banks’ proxy filings at the request of a shareholder activist Shareholders of J.P. Morgan Chase & Co. and Citigroup Inc. will get to vote later this year on one of the most ...
Will bitcoin provide banks with their ‘Kodak Moment’?
March 16th, 2016
The world’s banks are facing a ‘Kodak Moment’ if they continue to dismiss the virtual currency bitcoin as just the opening act for more revolutionary blockchain-based innovation, says Max Tannahill, a business change and implementation manager at ANZ It ...
China’s regulator vows to get tough on online brokers
March 15th, 2016
China’s top banking regulator has vowed to crack down on illegal fundraising activities by unscrupulous online brokers and warned investors to be wary of their schemes. Shang Fulin, chairman of the China Banking Regulatory Commission, said at a news ...
China Drafts Rules for Tobin Tax on Currency Transactions
March 15th, 2016
Initial rate of levy may be kept at zero, people familiar said The rules still need central government approval, they said China’s central bank has drafted rules for a tax on foreign-exchange transactions that would help curb currency speculation, according ...
Bank of Japan:Statement on Monetary Policy
March 15th, 2016
At the Monetary Policy Meeting (MPM) held today, the Policy Board of the Bank of Japan decided upon the following. (1) Quantity Dimension: The guideline for money market operations The Bank decided, by an 8-1 majority vote, to set ...
