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Industrial and Commercial Bank of China Ltd

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  • DOHA, April 14- Qatar opened the Middle East's first centre for clearing transactions in the Chinese yuan on Tuesday, saying it would boost trade and investment between China and Gulf Arab economies. "The launch of the region's first renminbi clearing center in Doha creates the necessary platform to realise the full potential of Qatar and the region's trade...

  • India's state banks are under pressure to improve profitability and slash bad loans, creating a more agile sector to help fuel economic growth. India's state banks hire largely through a nationwide exam system, bringing in entry-level staff who rise through the ranks over years. Bhattacharya, whose bank employs more than 215,000 people, is also working with...

  • Asian stocks outside Australia recovered from a lackluster open to rise on Monday as a modestly positive lead from Wall Street offset the impact of sliding oil prices.

  • *ICBC, AgBank, BoC, BoCom book 4 Q rise in bad loans. SHANGHAI/ HONG KONG, March 26- Chinese banks are increasingly drawing on Western ways of selling off bad loans, after four of the largest five lenders reported a spike in defaults in an economy stuttering at its slowest growth rate in 25 years. The practice, though common in the West, was mostly unheard of in China just a...

  • HONG KONG/ SHANGHAI, March 26- Industrial and Commercial Bank of China Ltd said on Thursday net profit fell 3 percent in the fourth quarter of 2014, the first time its final quarter profit has fallen since 2008 as China's economic growth slows. In common with the other "big four" lenders- Agricultural Bank of China Ltd, Bank of Communications Co Ltd and China...

  • Asian equities were mostly lower on Thursday following a sharp selloff on Wall Street overnight and an escalation of political turmoil in Yemen.

  • HONG KONG/ SHANGHAI, March 24- Agricultural Bank of China Ltd on Tuesday reported a 4 percent dip in fourth-quarter profit and a spike in bad loans as manufacturers and retailers struggled to repay debt while economic growth slowed. "This year, industry net interest margin will be on a downward trend, first quarter profit is also likely to fall," Chief Financial...

  • HONG KONG/ SHANGHAI, March 24- Agricultural Bank of China Ltd on Tuesday posted weaker-than-expected profit and a rise in bad loans as the country's slowing economic growth hit borrowers in the manufacturing, wholesale and retail sectors in particular. China's third-largest listed lender reported net profit for the fourth quarter of 27 billion yuan,...

  • TORONTO, March 23- Canada's export agency signed a deal with China's biggest bank on Monday to promote the use of the yuan as a settlement currency in trade-related transactions, as officials in Toronto launched the first yuan trading hub in the Americas. The trading hub and clearing center launched on Monday in Toronto. Nonetheless, Canada's Finance Minister...

  • OTTAWA, March 23- Canada's export agency signed a deal with China's biggest bank on Monday to promote the use of the yuan as a settlement currency in trade-related transactions, as officials in Toronto prepared to launch the first yuan trading hub in the Americas. The Canadian Chamber of Commerce estimated in November that the trading hub could boost Canadian...

  • LONDON, March 19- Six institutions will start setting gold prices electronically on Friday, as Intercontinental Exchange completes a sweeping change to London's bullion benchmarks and dispenses with the century-old gold "fix". Friday's move to electronic auctions should repair outside perceptions of London's role in the market, damaged by the one known...

  • Pedestrians stand in front of stock market boards along the pavement in Tokyo, Japan.

    Japanese stocks tracked a positive lead from Wall Street to hit a fresh multi-year high, breaching the 19,000 level, as major indices in the region largely rose on Friday.

  • March 12- Hong Kong's main stock indices rose on Thursday, led by banking shares, as investors expect that Beijing's plans to let local governments swap out expensive debt will improve asset quality at Chinese lenders. Chinese banks listed in Hong Kong, including Industrial and Commercial Bank of China, China Construction Bank and Bank of China, which represent...

  • Tokyo bucks regional slump; rest of Asia track US losses Wednesday, 11 Mar 2015 | 5:32 AM ET

    Asian equities were lower across the board on Wednesday, pressured by a plunge on Wall Street overnight and as a string of China data fell short of expectations.

  • According to two sources with direct knowledge of the matter and another who had been briefed by police, the police last month froze one account at Industrial and Commercial Bank of China and another at Bank of China, both held in Shanghai by Trafigura Private Limited, a Singapore unit. Trafigura will be anxious to avoid any disruption to its business in Shanghai,...

  • Nikkei ends week with new 15-year high Friday, 27 Feb 2015 | 3:33 AM ET
    Pedestrians stand in front of stock market boards along the pavement in Tokyo, Japan.

    Asian equitiess were mixed on Friday, following an uninspiring lead from Wall Street, but Japanese stocks managed to overlook a mixed bag of economic data to settle at a new 15-year high.

  • Feb 26- Hong Kong shares finished up on Thursday after a strong rally on Chinese markets, but underperformed mainland boards as Hong Kong investors sold off selected heavyweights in real estate, information technology and gaming giant Sands China, seen as hurt by China's anti-corruption campaign. The Hang Seng index rose 0.5 percent, to 24,902.06, while the...

  • HONG KONG, Feb 26- China is set to launch a link between gold markets in Shanghai and Hong Kong this year following a landmark stock connect scheme, aiming to enhance its pricing power of gold contracts and ultimately challenge its competitors in the West. While China is the world's largest consumer of the precious metal, having surpassed India, daily trading of...

  • LONDON, Feb 25- Standard Bank Plc said on Wednesday its co-head of commodities, Jim Coupland, is leaving after two decades, during which he built one of the world's biggest metals banks. His departure comes at a challenging time for Standard Bank as it seeks to recoup millions of dollars in losses from a metal financing scandal in China's Qingdao port that rocked...

  • "This is a critical test for the SFC," said Michael Cheng, Asian Corporate Governance Association's research director for China and Hong Kong. The SFC and the courts have limited authority outside of Hong Kong, which means reaching beyond the territory's borders to dismantle CMR Group, a Cayman Islands incorporated holding company, will be difficult.