Sunday, May 26, 2019

Tag: Agricultural Bank of China Ltd.

China Is About to Get Serious With Bad Debt

China's banks, which dialed down fundraising efforts this year even as bad debts swelled, are making up for lost time. Both lenders and the companies set up to acquire their delinquent assets are bolstering their finances. China Citic Bank Corp. last month announced plans to raise as much as 40...

Biggest China Banks Grind Out Meager Profit Gains as Loans Sour

China's biggest banks are grinding out meager profit gains as they grapple with pressure from loans going bad. Agricultural Bank of China Ltd. on Friday posted a 0.5 percent increase in net income in the second quarter from a year earlier. China Construction Bank Corp. reported earlier in the week...

U.S. Moves Toward Setting Up Yuan Trading and Clearing in America

The U.S. took an unprecedented step toward allowing trading and clearing of the Chinese yuan in America. Finance and industry leaders said Monday they are setting up a group aimed at allowing U.S. institutions to make or receive yuan payments, according to a press statement released before the International Monetary...

Qatar sovereign wealth fund suffers $12B paper loss

Qatar's sovereign wealth fund has had a quarter to forget — suffering as much as $12 billion of losses on Volkswagen, Glencore and Agricultural Bank of China, three of the biggest equity investments of its roughly $250 billion fund. With two days of the third quarter to go, the Qatar...

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