- Private Banks: From "Offshore" to "Onshore"
Both domestic and foreign banks, by establishing private banks in China, aim to lay a good foundation in exploring clients before the country lifts the cap on businesses in this segment.
- Geely Completes Volvo Deal
Chinese car maker Zhejiang Geely Holding completes its $1.8 billion acquisition of Volvo Car Corp. from Ford Motor Co.;the first takeover of a global luxury auto brand by a Chinese company.
- Li Ka-Shing to Buy EDF’s UK Grids for $9.1Bln
The deal, once completed, will make Li Ka-Shing one of the largest holders of the UK’s infrastructure assets with one fourth of the country’s electricity distribution market in hand.
- China July PMI Dives to 17 Months Low
Manufacturing activities in China continue to slow in July with the Purchasing Managers Index falling to a 17-month low of 51.2 percent from 52.1 percent in June.
- Who Should Safeguard Financial Stability?
Although our central bankers are not perfect judges of financial stability, they are still the people who are in the best political and institutional position to ensure it.