Page 13 - Bob Simison News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Singapore’s DBS Takes Control of Rural Lender in Push Into Bay Area Singapore’s biggest bank, DBS, is putting its chips on China’s Greater Bay Area with the purchase of a 13% stake in Shenzhen Rural Commercial Bank Corp., marking the first foreign investment in China’s small and medium-sized lenders since 2010. The Singaporean bank will become the largest shareholder of the Shenzhen rural lender after the deal, under which DBS will pay 5.29 billion yuan ($814 million) for 1.35 billion new shares of the privately owned commercial lender. The offer represents 1.01 times the book value...

JD.com Links Up With Visa to Promote Global Sales What’s new: JD.com Inc.’s global sales unit and Visa Inc. signed an agreement to jointly launch an online merchant subsidies program, targeting consumers in Hong Kong, Macau, Taiwan and overseas markets. By using Visa’s token technology, JD.com’s overseas users will be able to connect their Visa cards with their JD.com accounts and make mobile payments with one click, the Chinese e-commerce giant said. The cooperation will go beyond traditional promotion and will focus on the construction of new infrastructure for cross-border e-comm...

Renminbi Takes on More Prominent Role in Asian Financial Safety Net The CMIM’s $240 billion safety net is made up of pledges of $192 billion from China, Japan and South Korea and $48 billion from the 10 ASEAN countries. Significant revisions to Asia’s $240 billion regional financial safety net went into effect Wednesday, marking a key step toward financial self-reliance for participating countries using local currencies with less dependence on the U.S. dollar. China, Japan, South Korea and the 10 member countries of the Association of Southeast Asian Nations (ASEAN) agreed last year to am...

Huarong Asset Management Shares Suspended in Hong Kong Trading What’s new: Trading in China Huarong Asset Management Co. Ltd. shares was suspended in Hong Kong Thursday over delays in publishing annual results. The state-owned bad debt manager was one of about 50 Hong Kong-listed companies suspended from trading after they failed to report earnings by the March 31 deadline. In a brief online communication with investors, interim Huarong President Wang Wenjie said auditors need more time to review the 2020 results as certain relevant transactions are still to be determined. The company al...

China and UAE to Cooperate on Tracking Covid-19 What’s new: China and the United Arab Emirates (UAE) agreed to mutually recognize health codes tracking residents’ exposure to the coronavirus as part of a series of cooperative measures to boost bilateral ties. The two countries reached an agreement in principle on mutual recognition of health codes during a two-day visit by Chinese State Councilor and Foreign Minister Wang Yi to the Mideast country, according to the official Xinhua News Agency. The nations will also work together to promote international recognition of health QR codes as ...