Chairman of a rural commercial bank in China’s Bengbu city under investigation

BEIJING (Reuters) – Chairman of a rural commercial bank in China’s Bengbu city, Anhui province, is under investigation for suspected violation of law and discipline, the local anti-graft watchdog said in a statement on Wednesday. Wu Yonggang, also party secretary of Bengbu Rural Commercial Bank, is the latest of a string of financial officials to …

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UOB completes deal for Citi’s Vietnam consumer banking business

SINGAPORE (Reuters) – Citigroup said on Wednesday that it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore’s United Overseas Bank in a transaction expected to result in a “modest regulatory capital benefit”. United Overseas Bank, commonly known as UOB, said in a separate statement that it planned …

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China finance minister expects better local gov’t fiscal situation in 2023

BEIJING (Reuters) – China’s local government fiscal situation is likely to improve as the economy rebounds this year, though debt risk for some authorities is high and repayment pressure is large, Minister of Finance Liu Kun said on Wednesday. The world’s second-largest economy after that of the United States is stabilising after the lifting of …

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China’s factories swing back to growth on removal of COVID curbs – Caixin PMI

BEIJING (Reuters) – China’s factory activity rose for the first time in seven months in February, driven by a renewed upturn in production and new orders and revived customer demand as the country shook off its strict COVID curbs, a private sector survey showed on Wednesday. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose …

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Independiente del Valle vence a Flamengo en los penales y alza Recopa Sudamericana

1 marzo (Reuters) – El club Independiente del Valle de Ecuador hizo historia el martes al vencer 5-4 en la tanda de penales al poderoso Flamengo y conquistar la Recopa Sudamericana en el estadio Maracaná de Brasil, luego de igualar 1-1 en el marcador global. El partido revancha del trofeo entre los campeones de la …

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