“Over the past three years, about 100 vehicles have been towed away,” he told a radio programme. “Some owners died, but most cases involved owners unable to afford loans.” Minibuses in Causeway Bay. Driving a minibus in the city requires a special licence with a quota in place. Photo: Edmond So The mass minibus confiscation
A man walks past the People’s Bank of China (PBOC) building on Dec. 25, 2023 in Beijing, China. China’s central bank left a key policy rate unchanged as expected on Sunday when rolling over maturing medium-term loans, with uncertainties around the timing of an easing by the Federal Reserve limiting Beijing’s room to maneuver on monetary
A pedestrian walks past a sign for Aozora Bank Ltd. at the company’s headquarters in Tokyo, Japan, on Friday, May 14, 2010. Tomohiro Ohsumi | Bloomberg | Getty Images Shares of Aozora Bank tumbled to their lowest level in eight months Thursday after the Japanese bank warned of a fiscal-year net loss due to its exposure
New York Community Bancorp reported a surprise loss as it wrote down bad real estate loans, sending its stock tumbling Wednesday and dragging down the share prices of regional banks across the country. “This was a major negative surprise,” Jon G. Arfstrom, an analyst at RBC Capital Markets, said in a Wednesday note. New York
January 16, 2024, 7:00 AM UTC China’s calmest offshore credit market in years will be tested in coming months by maturities at major developers and ongoing weakness in the property market. A gauge of credit stress in the nation’s offshore bond market held at 1 in December, according to Bloomberg’s China Credit Tracker, matching November’s
In 2023, the domestic equity market demonstrated a remarkable performance, reminiscent of the bullish trend observed in 2017. Both the Nifty 50 and the Sensex exhibited substantial gains, climbing around 20 percent. However, what truly stood out were the midcap and smallcap segments, outpacing the benchmarks by a considerable margin. The BSE Midcap index witnessed
A New York man was fined more than $1 million and another has been imprisoned for orchestrating an elaborate fraud they used to acquire $50 million in mortgage loans and build an extensive residential real estate portfolio across Hartford. Federal prosecutors said the “sheer volume of false documents and material misrepresentations’’ concocted to deceive lenders
MUMBAI: Interest rates on some retail loans, excluding home loans, have started inching up, with several banks revising their marginal cost of lending rate (MCLR). Although banks have linked their home loans to the repo rate (the rate at which the Reserve Bank of India lends), which has stayed the same since February 2023, many
Outstanding retail loans given by banks tipped over the ₹50 trillion milestone for the first time in November 2023, latest central bank data showed. This was aided by demand from individuals, a push by banks and the merger between HDFC Bank and erstwhile mortgage lender Housing Development Finance Corp. Ltd (HDFC). Outstanding retail loans given
Depositors are accustomed to choosing a bank based on a number of factors which include rate of interest they offer, customer-friendly services they provide and the word-of-mouth feedback. Besides large commercial banks, small finance banks also offer good interest rate on their fixed deposits. Here, we give a lowdown on small finance banks which offer