China's debt has soared to two and half times its economy from 147 percent at the end of 2008, Standard Chartered estimates.» Read More
FRANKFURT, July 8- U.S. authorities have begun settlement talks with Germany's Commerzbank and Deutsche Bank over their dealings with countries blacklisted by the United States, extending a crackdown on European banks at a delicate point in U.S.-German relations. Deutsche Bank and Commerzbank declined to comment.
U.S. authorities have begun settlement talks with Commerzbank over its dealings with blacklisted countries, the New York Times reports.
July 8- U.S. state and federal authorities have begun settlement talks with Germany's Commerzbank AG and Deutsche Bank over their dealings with countries blacklisted by the United States, a source with direct knowledge of the regulatory investigations said. Deutsche Bank and Commerzbank declined to comment.
JAKARTA, July 4- Indonesia's two presidential candidates have pledged to increase the amount of farm land to improve self sufficiency, although previous such plans by Asia's top importer of wheat and a major buyer of other grains and edibles have often stumbled.
NAIROBI, July 3- African countries' rapid growth over the past decade may have been the envy of many developed economies, but their number crunchers have struggled to keep up.
SHANGHAI, July 3- China's onshore yuan softened slightly on Thursday after the policymakers announced they would completely liberalise the exchange rate in the retail market, allowing banks to offer over-the-counter customers any rate they choose.
*China allows banks to freely set OTC yuan/dollar rates. SHANGHAI/ BEIJING, July 3- China has permitted banks to freely set their own exchange rates for the yuan against the dollar in over-the-counter transactions-- another step toward freeing the exchange rate from government control.
Upbeat news on China's manufacturing sector on Tuesday raises the question of whether it's time to wean the economy off growth-supportive measures.
BEIJING, June 30- China's vast factory sector probably registered its best performance this year in June as growth quickened to a six-month high, further signaling that its economy is regaining strength after an unsteady start to 2014. A Reuters poll of 19 economists showed the official Purchasing Managers' Index is forecast to rise to 51 in June, edging further from the 50- point level that denotes growth from contraction in activity on a monthly basis.
HONG KONG, June 27- Hong Kong shares ended mixed on Friday after strong gains in the previous session, with weakness in insurance stocks weighing on sentiment. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong slipped 0.3 percent.
SHANGHAI/ BEIJING, June 27- China's Shanxi Coal International Energy Group said it was suing the company at the center of the alleged metals financing fraud at Qingdao port and its parent for over $177 million in missed payments the two had guaranteed, a move that suggests the scandal is starting to affect other sectors in China.
Asian equity markets declined on Friday following hawkish comments from a Federal Reserve official.
*Lawsuit suggests scandal at Qingdao port hitting other sectors.
A fraud at China's third-largest port has forced banks and trading houses to consider new controls in China's massive commodity financing business.
Singapore, an Asian hub for banking and finance, is ramping up its bid to become a center for gold trading that may one day rival London.
European markets closed slightly lower on Thursday, after trading narrowly in and out of positive territory throughout the day.
*Barclays sags on U.S. fraud lawsuit linked to stock trading. The market was also pegged back by weakness in banking shares, led by a steep drop in Barclays after the New York Attorney General filed a lawsuit against it. "I think it is mainly Bullard," said Andy Ash, director at Monument Securities.
SHANGHAI/ HONG KONG/ SYDNEY, June 26- A warehouse fraud at China's third-largest port has forced banks and trading houses to consider new controls in the country's massive commodity financing business, which traders say could lead to drying up of credit for all but large firms and state-owned companies.
LONDON, June 26- Standard Chartered warned profits would fall in 2014 for the second year in a row after first-half earnings dropped by a fifth due to tougher regulations and low market volatility in its trading business.
LONDON, June 26- Standard Chartered on Thursday warned of lower profits this year after a 20 percent slump in first-half earnings, as tougher regulations and low market volatility hit its trading business.