From The New York Times: The International Monetary Fund‘s executive board, responding to appeals by the United States, has taken a step toward giving more of a voice to China and three other developing countries in setting policy on global economic matters, the fund announced on Friday. The fund said that the board also endorsed […]
Read MoreFrom The Wall Street Journal: Draft revisions to rules governing foreign bank operations in China are intended to protect Chinese depositors as the country opens its retail market to foreign lenders at the end of this year, a banking regulator told a local financial publication Thursday. The proposed revisions have prompted concern among some analysts […]
Read MoreFrom AP via The Wall Street Journal: A maker of Apple Computer Inc.‘s iPod has cut its demand for defamation damages over a newspaper report that it mistreated its workers to a symbolic one yuan (12.6 cents) following a wave of bad publicity. Hongfujin Precision Industry Co. said it was reducing its demands for damages […]
Read MoreFrom Bloomberg: Industrial & Commercial Bank of China, the nation’s biggest lender, will seek waivers from the government to help sell a record $21 billion of stock in an initial public offering, two people involved in the sale said. Conflicting regulations in Hong Kong and Shanghai are hampering the Beijing-based bank’s plan to sell about […]
Read MoreFrom The New York Times: In an effort to gain Chinese cooperation on international economic issues, the Bush administration is pushing for China and other developing nations to get more power in the global institution that has played a central role in easing myriad financial crises since the end of World War II. But the […]
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