Tag: Banking
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Macau’s BNU seen tightening amid developer debt crisis: Bloomberg
Staff Reporter Macau banks are taking a more cautious stance as China’s deepening real estate crisis continues to weigh on mid-sized developers. Among them, Banco Nacional ... -
ADB chief criticizes opaque loans tied to Africa’s natural resources
The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical ... -
Former chairman of state-owned Bank of Beijing investigated for alleged corruption
The former chairman of the state-owned Bank of Beijing is under investigation for corruption, the latest in a series of graft investigations focused on the country’s ... -
From AI and inflation to Musk and Swift
AI GOES MAINSTREAM Artificial intelligence thrust itself into public consciousness this year. But the technology, while dazzling for its ability to retrieve information or produce readable ... -
Beijing police investigate major shadow bank Zhongzhi after it says it’s insolvent
Police are investigating suspected crimes of a Chinese wealth company owned by Zhongzhi Enterprise Group, according to the Beijing Public Security Bureau, days after the firm ... -
Singapore’s OCBC Bank restructures senior management for its Greater China operations
Two new appointments have been made for OCBC Group’s Greater China Region operations, “as the group’s ASEAN-Greater China strategic thrust gathers momentum,” OCBC Group, parent company ... -
Interest rate hikes help double BNU’s profits in first half
Banco Nacional Ultramarino (BNU) in Macau yesterday announced profits of MOP288.4 million (32.7 million euros) in the first half of the year, a year-on-year increase of 125.2%. ... -
Wing Hang becomes history, rebranded as OCBC Bank
Singaporean banking corporation OCBC Bank has terminated the historical mission of Wing Hang Bank, eliminating the reference from its operations in Macau and Hong Kong. The ... -
UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
UBS said yesterday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal ... -
Santander UK boss says ring if you need financial help
Ringing a bank when facing financial problems as prices soar will make things better, not worse, according to the boss of Santander. Mike Regnier, UK chief ... -
Swiss lawmakers pick apart Credit Suisse woes ahead of deal
Switzerland’s parliament is opening a special session yesterday to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS — and possibly considering strengthening ... -
Credit Suisse deal halted crisis, Swiss central bank says
The Swiss central bank hiked its key interest rate yesterday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the ... -
Silicon Valley Bank collapse concerns founders of color
In the hours after some of Silicon Valley Bank’s biggest customers started pulling out their money, a WhatsApp group of startup founders who are immigrants of ... -
Credit Suisse shares soar after central bank aid announced
Credit Suisse’s shares soared 30% yesterday after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the ... -
Bank stocks drop in Europe as US bank failure stirs jitters
Bank stocks sagged in Europe and U.S. stock futures fell yesterday ahead of the market’s open in New York, shaken by worries the biggest U.S. bank ... -
AMCM working on HKD instant digital transfer across local banks
Instant bank wiring of Hong Kong Dollars will be possible with the next phase of the Easy Transfer function, Chan Sau San, president of the Monetary ... -
BNU says drop due to reduction of interest rates on loans, less credit card transactions
Following the results published on Wednesday which showed a 41.7% drop in the profits of the Banco Nacional Ultramarino (BNU) in 2020, the BNU has justified ...
