Banker caught fleeing as Korean regulator suspends four savings banks
Tweet Four of South Korea’s savings banks had their deposits suspended yesterday (Sunday 6 May) by the country’s financial regulator after they failed financial stress tests. The banks that have…
China’s convenience stores to sell insurance
Tweet China’s grocery sector is following the path set years earlier in Europe by selling financial services at the supermarket checkout. Shoppers in Shanghai branches of Alldays and Kedi convenience…
ANZ gaining traction in China
Tweet Australia and New Zealand Banking Group (ANZ) is surging ahead of its Australian rivals on the back of its Asian business as margins back home are squeezed. Revenue from…
China allows the Renminbi to float a little freer
Tweet China has relaxed the band in which it allows its currency, the Renminbi, to move in value against the US dollar. The People’s Bank of China (PBC), the country’s…
India scores another economic own-goal
Tweet India’s government is trying to score yet another economic own-goal, leaving many foreign investors booking the next flight out of the country. The Asian Securities Industry and Financial Markets…
PayPal may soon set up shop in China
Tweet Paypal, the world’s leading online payment specialist, is looking at entering the Chinese market. According to PayPal’s Asian vice-president Rupert Keeley, the company is aiming to become the first…
China to write Renminbi loans to the BRICS nations
Tweet China has edged another step towards making the Yuan one of the world’s reserve currencies with its announcement that it will offer Renminbi loans to India, Russia, South Africa…
Vietnam plans radical banking consolidation
Tweet Weak banks in Vietnam will be forced to merge under plans unveiled today by the government to stabilize and restructure the country’s economy over the next three years. The…
Foreign banks in China seeking to expand after good 2011 result
Tweet Foreign banks operating in China have pledged to expand their business and investment in mainland China this year after posting impressive profits in 2011,the Shanghai Securities News reported Thursday.…
HSBC to push into Chinese mainland
Tweet In a bid to increase its presence in mainland China, HSBC is planning to expand its branch network or raise its stake in the Bank of Communications (BoCom). Speaking…
