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Added on the 17/03/2015 16:44:30 - Copyright : Reuters - Next Media
The U.S. pivot to Asia hits a hiccup with the new Beijing-led Asian Infrastructure Investment Bank as Washington and Tokyo are not keen on joining the party. Tara Joseph reports.
Shanghai, Sep 29 (EFE/EPA).- Chinese real estate giant Evergrande on Wednesday announced it would sell a 19.93 percent stake in commercial Shengjing Bank to a state-owned conglomerate for 9.99 billion yuan ($1.55 billion).After the transaction, its stake in Shengjing Bank will drop from 34.5 percent to 14.57 percent, Evergrande said in a statement sent to the Hong Kong Stock Exchange.Evergrande will transfer 1.75 billion non-publicly traded domestic shares to the buyer at a unit price of 5.7 yuan. (Camera: ARCHIVE). ARCHIVE FOOTAGE OF THE EVERGRANDE CENTER IN SHANGHAI, CHINA.
Business Insider reports Norwegian deputy central bank governor Jon Nicolaisen resigned on Friday. Nicolaisen was in charge of Norway's $1.2 trillion sovereign wealth fund, the biggest in the world. He stepped down after Norway's security service rejected his security clearance because his wife is Chinese and lives in China. The pair have been married for ten years, but Norway has become stricter on ties to China and Russia in recent years. Norway's intelligence service says the two countries are trying to find out information about Norway's petroleum industry.
Goldman Sachs on Thursday reached a massive settlement with US authorities regarding a years-long financial scandal in Malaysia. The federal investigation involved the bank's work with Malaysia's 1MDB fund, and found bribes by Goldman executives in their underwriting of $6.5 billion in bond offerings. In a statement, CEO David Solomon admitted the bank's wrongdoing and said it had improved internal risk controls to prevent another incident. The bank also announced "clawback actions" for former employees that were implicated along with reductions in top executives' compensation, including CEO David Solomon.
Beijing/Shanghai, Jul 29 (EFE/EPA).- China's economy will grow 1.6 percent this year but will expand 7.9 percent next year, according to projections in the latest World Bank report, published Wednesday.Although the forecast for 2020 will be the smallest growth since 197, growing 7.9 percent in 2021 would signify the fastest pace since 2012, taking into account that the GDP growth rate is measured in year-on-year terms and that in 2011 it had been 9.6 percent. (Camera: WU HONG / ALEKSANDAR PLAVEVSKI)FOOTAGE SHOWS B-ROLL OF SHANGHAI AND BEIJING, CHINA.
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