(Reuters) – China’s Export-Import Bank will provide a loan of $278.2 million to Sri Lanka to help lay a rail track to a key port which Beijing is building that has stoked concern in neighboring India. The port of Hambantota on the southern tip of the Indian Ocean island nation is envisioned as a refueling and service point for cargo …
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Asian banks are providing an increasing chunk of trade finance in the region as European banks pull back due to the eurozone crisis and new bank regulations. The push by Asian institutions into the market, suggests that trade finance – estimated at $10tn a year globally and supporting more than 80 per cent of global trade – remains available in …
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(Reuters) – China is planning to extend renminbi loans to other major emerging BRIC countries, in another step toward the expansion of the yuan’s role in foreign exchange, the Financial Times reported on Wednesday. The China Development Bank (CDB) will sign a memorandum of understanding at a meeting with its BRICs counterparts – Russia, South Africa, Brazil and India – in New Delhi on …
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* ECB to launch second 3-year financing operation on Wed * Gold-silver ratio drops to four-month low * Spot gold may rise to $1,797/oz -technicals * Coming up: U.S. consumer confidence, Feb; 1500 GMT SINGAPORE, Feb 28 (Reuters) - Gold inched higher on Tuesday after two sessions of straight losses, ahead of a major cash injection by the European Central …
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Emerging markets are finding their voices within the Group of 20, a development that will reshape global efforts to avoid financial meltdowns and shape economic growth. The dominant issue at this weekend’s G20 gathering of finance ministers and central bank governors is putting an end to worries that a big European economy could go bankrupt. While the path to a …
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(Reuters) – Asian banks are filling the void in the aircraft financing market left by squeezed European lenders, but Middle East tensions and the sheer scale of Asia’s aviation growth look set to leave the industry’s funding on a knife-edge, experts said. Banks from Singapore, China and Japan have stepped up their activities in the lucrative sector. The realignment has pushed back …
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