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Mortgage rates for first-time buyers inch up: Some Chinese banks have raised mortgage rates for first-time home buyers, local media reported, a move analysts say will dampen property prices, which one industry surveys says have just posted their first monthly decline in a year. China Construction Bank Corp, China's biggest ...

China's yuan weakens against USD Tuesday: The Chinese currency Renminbi, or the yuan, weakened 39 basis points to 6.3749 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...

S&P lowers rating of Madrid, Barcelona debt: Debt qualification agency Standard and Poor's decided on Monday to lower the rating of the Comunidad de Madrid and the debt of Barcelona. The agency downgraded their ratings by one notch from AA- to AA, saying that it has a negative perspective for the future. The decision ...

China's Yuan Weakens against USD Tuesday: The Chinese currency Renminbi, or the yuan, weakened 39 basis points to 6.3749 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...

Wool market drops: The AWEX Regional Indicators finished 0.4% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 5.8%. Although the market finished on a softer note, it was more settled over this week and last, with the EMI down by 2.8% (+1.1% ...

China's yuan strengthens against USD Monday: The Chinese currency Renminbi, or the yuan, strengthens 52 basis points to 6.3710 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...

Profitable practice plagued by persistent problems: Although the world around her reverberated with the sound of imminent collapse, 40-something Hua Xiang remained calm, sitting in her sparsely decorated office sipping tea with a guest. As one of the thousands of underground money lenders in Wenzhou, she should be fretting as the ...

Fitch downgrades 3 European banks ratings: Fitch ratings agency on Thursday cut three European banks' credit ratings and put another seven international financial institutions on the negative watch list. The global rating agency downgraded UBS's long-term issuer default rating from A+ to A, saying the bank is no longer ...

China to help cash-strapped railways access funds: Chinese authorities have agreed to take steps to secure financial support for major cash-strapped railway projects in the country's latest move to help the crippled sector, China Securities Journal reported on Friday. The move follows a policy instituted earlier this month by the ...

CBRC to enhance liquidity risk management: China's banking regulator said Wednesday that it has begun soliciting public opinions on a new draft in a bid to improve banks' liquidity risk management and safeguard the safety and stability of China's banking system. The draft is expected to be implemented on Jan 1, 2012, ...

Cashing out to protect wealth: To protect their personal wealth from being eroded by the global financial turmoil, the Chinese mainland's richest people have been cashing out by selling equities they held or assets of their companies. Chen Wenpei and his family, who run automobile dealer SCAS Investment Group, ...

Building to serve as HQ for OCBC: Singapore's OCBC Bank cemented its long-term commitment to China when it said yesterday that it will invest 902 million yuan (US$141 million) for a building in Shanghai's Pudong New Area as its China headquarters. The bank paid about 310.7 million yuan in cash for 100 percent ...

Banking regulator to enhance risk management: China's banking regulator said Wednesday that it has begun soliciting public opinions on a new draft in a bid to improve banks' liquidity risk management and safeguard the safety and stability of China's banking system. The draft is expected to be implemented on Jan. 1, 2012, ...

China's Yuan Weakens Against USD Wednesday: China's currency Renminbi, or the yuan, weakened 115 basis points to 6.3598 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system. This came after the U.S. Senate passed a bill to press China to allow its currency to rise further. The yuan ...

China's yuan weakens against dollar Wednesday: The Chinese currency Renminbi, or the yuan, weakened 115 basis points to 6.3598 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...

China's yuan hits new high against USD Tuesday: The Chinese currency Renminbi, or the yuan, strengthened 103 basis points to a record high of 6.3483 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 ...

UAE's Emirates NBD takes over Dubai Bank: Bank Emirates NBD, the largest bank in the United Arab Emirates (UAE) by assets, will take over Dubai Bank for an unspecified sum, a move which was directly ordered by Sheikh Mohammed Bin Rashid Al Maktoum, the ruler of Dubai and Vice President and Prime Minister of the UAE, ...

Yuan Firms the Most in 6 Years: The yuan strengthened by the most in six years Monday as stronger manufacturing data and the central bank's stance on a gradual appreciation of the currency boosted confidence. Trading on the over-the-counter market the yuan closed at 6.3486 against the US dollar Monday, 0.6 ...

Central Huijin buys stocks in China's major banks: Central Huijin Investment Ltd, an arm of China's sovereign wealth fund, bought shares in four major Chinese State-owned banks on the secondary market on Monday, the company said Monday. The four banks include the Industrial and Commercial Bank of China (ICBC), Agricultural Bank ...

M&A value rises 33%: The total value of mergers & acquisitions in China surged 33 percent in the third quarter from three months earlier to nearly 189 billion yuan (US$29.7 billion), according to a report yesterday. The three months saw 575 completed M&A deals, the highest so far this year, but ...

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China's reform leading group holds first meeting: BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

China stocks close higher over liquidity injection: BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...

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Injured star short-track skater Wang Meng left out of China's squad for Sochi: Injured Olympic champion Wang Meng has been ruled out of the 139...

Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

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