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Ransomware Attack On US Arm Of China's Largest Bank Disrupts Treasury Market
The US arm of China's largest bank said Thursday that it was hit by a ransomware attack, forcing clients to reroute trades and disrupting the US Treasury market.
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Gang Behind Cyberattack On World's Biggest Bank Has Hacked 1,000 Victims
Industrial & Commercial Bank of China Ltd.'s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems.
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Cash-Strapped Pakistan To Receive $500 Million From Chinese Bank
A Chinese bank has assured Pakistan that it will provide another refinanced USD 500 million loan within the next few days, bringing the total of commercial loans up to USD 1.7 billion out of the total committed amount of USD 2 billion.
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Turkey Joins China, India in Marking CBDC Milestones on Wider Scale Before 2022 Wraps Up
The Central Bank of the Republic of Turkey (CBRT), that started its CBDC trials earlier this year, has completed its first phase before the end of year 2022. Turkey’s CBDC is named the Digital Turkish Lira. The nation plans to continue the studies on the economic and legal framework around CBDCs next year.
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Opinion: $680 Million Question of What Anil Ambani Knew
The $680 million is the amount Industrial & Commercial Bank of China Ltd. is seeking to recover from the former Indian billionaire by invoking what they say is a personal guarantee he gave in 2012 to secure a $925 million loan for Reliance Communications Ltd., his mobile services firm that's now in bankruptcy.
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RBI Cuts Rate To Lowest In 9 Years To Boost Growth, Loans May Get Cheaper
The Reserve Bank of India's Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, on Thursday unanimously lowered key lending rate or repo rate by 25 basis points or 0.25 per cent to 5.75 per cent. The six-member committee also changed the policy stance to "accommodative" from "neutral". Repo rate is the interest rate at which commercia...
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China's Largest Bank Sets Up $200-Million Fund For Indian Small Businesses
Zheng Bin, CEO of the Industrial and Commercial Bank of China (ICBC) India, on Monday gave an overview of the Indian start-up ecosystem and how to invest in them at the second 'Start-up India' Investment Seminar.
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China's Top State-Run Bank Launches First India-Dedicated Investment Fund
The Industrial and Commercial Bank of China, a top state-run Chinese bank has launched China's first India-dedicated publicly offered investment fund, urging the Chinese to invest heavily stating that the Indian economy is entering the "golden age of economic take-off".
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Two More Banks In Fray To Recover Debts From Reliance Communications
Two major Chinese lenders plan to support a move by China Development Bank to put RCom into insolvency court.
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China's Bad Loans Mount To $220 Billion: Report
Bad loans by commercial banks totalled 1.5 trillion yuan ($220 billion) at the end of last year, 18.3 billion yuan more at the end of quarter three (Q3).
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Chinese Bank Employees Get Beating From Trainer Angered At Low Scores: Report
A motivational trainer in China, upset at the low scores in a session with rural bank employees, handed out beatings for eight of them, shaved the heads of the men and cut the hair of the women.
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Spanking For Poor Performers Leaves China Bank Red-Faced
Footage of Chinese bank staff being spanked for poor performance at a training session has gone viral, triggering public anger and the suspension of the bank's boss, reports said Tuesday.
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Tata Signs Up China's ICBC for Financial Services
Under the alliance, ICBC will provide the Tata group with financing products, global cash management, consulting, international trade finance business, investment banking, foreign exchange, derivatives trading, and other global financial services, Tata Sons said in a statement.
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Chinese Banks Bear Brunt of Economic Slowdown
China's banking industry is bearing the brunt of the country's economic slowdown with its big four state-owned banks reporting profit growth below one per cent in the first three quarters.
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Chinese Firms Sign Deal to Buy 300 Boeing Planes: Report
US aerospace giant Boeing has signed deals with Chinese firms to sell 300 aircraft and open a completion centre in the Asian country, China's official Xinhua news agency reported, as President Xi Jinping began his first state visit to the United States.
-
Ransomware Attack On US Arm Of China's Largest Bank Disrupts Treasury Market
The US arm of China's largest bank said Thursday that it was hit by a ransomware attack, forcing clients to reroute trades and disrupting the US Treasury market.
-
Gang Behind Cyberattack On World's Biggest Bank Has Hacked 1,000 Victims
Industrial & Commercial Bank of China Ltd.'s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems.
-
Cash-Strapped Pakistan To Receive $500 Million From Chinese Bank
A Chinese bank has assured Pakistan that it will provide another refinanced USD 500 million loan within the next few days, bringing the total of commercial loans up to USD 1.7 billion out of the total committed amount of USD 2 billion.
-
Turkey Joins China, India in Marking CBDC Milestones on Wider Scale Before 2022 Wraps Up
The Central Bank of the Republic of Turkey (CBRT), that started its CBDC trials earlier this year, has completed its first phase before the end of year 2022. Turkey’s CBDC is named the Digital Turkish Lira. The nation plans to continue the studies on the economic and legal framework around CBDCs next year.
-
Opinion: $680 Million Question of What Anil Ambani Knew
The $680 million is the amount Industrial & Commercial Bank of China Ltd. is seeking to recover from the former Indian billionaire by invoking what they say is a personal guarantee he gave in 2012 to secure a $925 million loan for Reliance Communications Ltd., his mobile services firm that's now in bankruptcy.
-
RBI Cuts Rate To Lowest In 9 Years To Boost Growth, Loans May Get Cheaper
The Reserve Bank of India's Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, on Thursday unanimously lowered key lending rate or repo rate by 25 basis points or 0.25 per cent to 5.75 per cent. The six-member committee also changed the policy stance to "accommodative" from "neutral". Repo rate is the interest rate at which commercia...
-
China's Largest Bank Sets Up $200-Million Fund For Indian Small Businesses
Zheng Bin, CEO of the Industrial and Commercial Bank of China (ICBC) India, on Monday gave an overview of the Indian start-up ecosystem and how to invest in them at the second 'Start-up India' Investment Seminar.
-
China's Top State-Run Bank Launches First India-Dedicated Investment Fund
The Industrial and Commercial Bank of China, a top state-run Chinese bank has launched China's first India-dedicated publicly offered investment fund, urging the Chinese to invest heavily stating that the Indian economy is entering the "golden age of economic take-off".
-
Two More Banks In Fray To Recover Debts From Reliance Communications
Two major Chinese lenders plan to support a move by China Development Bank to put RCom into insolvency court.
-
China's Bad Loans Mount To $220 Billion: Report
Bad loans by commercial banks totalled 1.5 trillion yuan ($220 billion) at the end of last year, 18.3 billion yuan more at the end of quarter three (Q3).
-
Chinese Bank Employees Get Beating From Trainer Angered At Low Scores: Report
A motivational trainer in China, upset at the low scores in a session with rural bank employees, handed out beatings for eight of them, shaved the heads of the men and cut the hair of the women.
-
Spanking For Poor Performers Leaves China Bank Red-Faced
Footage of Chinese bank staff being spanked for poor performance at a training session has gone viral, triggering public anger and the suspension of the bank's boss, reports said Tuesday.
-
Tata Signs Up China's ICBC for Financial Services
Under the alliance, ICBC will provide the Tata group with financing products, global cash management, consulting, international trade finance business, investment banking, foreign exchange, derivatives trading, and other global financial services, Tata Sons said in a statement.
-
Chinese Banks Bear Brunt of Economic Slowdown
China's banking industry is bearing the brunt of the country's economic slowdown with its big four state-owned banks reporting profit growth below one per cent in the first three quarters.
-
Chinese Firms Sign Deal to Buy 300 Boeing Planes: Report
US aerospace giant Boeing has signed deals with Chinese firms to sell 300 aircraft and open a completion centre in the Asian country, China's official Xinhua news agency reported, as President Xi Jinping began his first state visit to the United States.
