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Industrial and Commercial Bank of China Ltd

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  • *Emerging market funds underweight Asia despite outperformance. The problems are particularly acute in China, South Korea and Taiwan, which make up more than half of the benchmark MSCI Emerging Markets index. Global emerging markets funds had only 63 percent of their investments in Asia as of May 31, below the benchmark's weighting of 69.7 percent, according to...

  • *Shares of nearly 1,300 companies suspended on China exchanges. SHANGHAI, July 9- China's securities regulator took the drastic step of ordering shareholders with stakes of more than 5 percent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets. The China Securities Regulatory...

  • SINGAPORE/ LONDON, July 1- A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer. While no immediate threat to the gold pricing dominance of London and New York, the benchmark could...

  • China trumps West in global bank ratings Monday, 29 Jun 2015 | 9:25 AM ET
    White-collars walk to their lunch break in Pudong business district in Shanghai, China.

    Western banking giants are losing ground to China, as the world's second-biggest economy vies to establish its economic influence.

  • LONDON, June 29- China's banks are strengthening their position as the best capitalised and biggest profit makers in the world, a study showed on Monday. Industrial and Commercial Bank of China's $59.1 billion profit last year topped the rankings, ahead of China Construction Bank, Agricultral Bank of China and Bank of China. U.S. bank Wells Fargo ranked fifth with...

  • An investor pays attention to the stock market at a stock exchange hall in Hangzhou, Zhejiang province of China.

    Mainland shares endured a sharp selloff late Thursday, while other bourses were lackluster after Greek talks hit a stalemate overnight.

  • *Bank of China recently joined London benchmark. SHANGHAI, June 25- Industrial and Commercial Bank of China Ltd, the world's largest bank by assets, said it was interested in participating in the twice-daily London gold price benchmarking process. "ICBC is very keen on participating," Zhou Ming, general manager in the bank's precious metals department said at an...

  • China scraps banks' loan-to-deposit ratio Wednesday, 24 Jun 2015 | 11:44 PM ET

    China is set to scrap its longstanding loan-to-deposit ratio requirement for banks, marking another step in reforming the sector to spur lending.

  • BEIJING, June 24- China is to scrap the country's longstanding loan-to-deposit ratio requirement, the latest in a series of measures to reform the country's commercial banking sector and get more lending into a slowing economy. China's cabinet, the State Council, published its decision late on Wednesday, as part of a draft amendment to the country's 20-...

  • Shanghai Comp lead losses in Asia on IPO concerns Thursday, 18 Jun 2015 | 3:53 AM ET
    Investors check the share prices at a security firm in Shaoxing, China.

    Chinese stocks crumbled under the weight of IPOs on Thursday, while a dovish Federal Reserve did little to help sentiment.

  • BEIJING, June 17- China's cabinet has allowed Bank of Communications to look into taking on more private shareholding as part of the government's push to reform state-owned lenders struggling with a spike in bad loans in a slowing economy. HSBC is the largest foreign shareholder in BoCom, with a 19 percent stake, but the plan also did not mention anything about...

  • BEIJING, June 17- China's cabinet has allowed Bank of Communications, the country's fifth-biggest lender, to introduce more private shareholding as part of Beijing's financial reforms to revitalize state-owned banks. BoCom was the first of China's big five state-owned lenders to start reforms under Beijing's two-year-long overhaul of its hugely...

  • CAIRO, June 15- Egypt has entered into an initial agreement with China over 15 projects worth about $10 billion, the Egyptian trade minister said on Monday. The minister did not name any specific companies involved but said that the Export-Import Bank of China would provide financing for six transport projects including building a new railroad and developing...

  • *HSBC plans to quadruple staff numbers. The station, 90 kilometres north of Hong Kong, is on the first open section of a super fast rail network in China's Pearl River Delta that HSBC is betting will turn the prosperous region of 40,000 square kilometres into a seamless metropolis that can fuel the bank's growth in the next decade. A visit to the area though shows up...

  • SHANGHAI, June 15- Senior executives of listed firms in China have stepped up the pace at which they are selling shares in their own companies, suggesting they may have doubts about whether their stock prices can go much higher. "It's a vote of confidence," said Hong Hao, chief strategist at Bank of Communications International. Between June 1 and June 3, Jia Yueting,...

  • HSBC is betting on China's Pearl River Delta for growth, but the region's patchy development underlines the risks in the bank's Asia "pivot" strategy.

  • *HSBC plans to quadruple staff numbers. The station, 90 kilometers north of Hong Kong, is on the first open section of a super fast rail network in China's Pearl River Delta that HSBC is betting will turn the prosperous region of 40,000 square kilometers into a seamless metropolis that can fuel the bank's growth in the next decade. A visit to the area though shows up...

  • *ICBC, CITIC Trust arguing over who is accountable. BEIJING, June 11- China's biggest state-owned bank and trust company are arguing over who should be held accountable after two high-yield trust products they were both involved in failed, leaving investors owed 500 million yuan. The product was scheduled to mature in March, but the ultimate borrower, mining and...

  • June 8- Hong Kong stocks edged up on Monday, led by mainland banking heavyweights on expectations that Beijing will step up reforms in the state sector. China's biggest banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications all ended the day firmer, on expectations...

  • China's Shanghai Composite index clinched fresh seven-year peaks on Monday, outperforming the region which has largely seen a mixed performance.