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January 26, 2021

Loans

EU approves German coronavirus state aid scheme

Reuters
FILE PHOTO: Margrethe Vestager, European Commissioner for A Europe Fit for the Digital Age and European Commissioner for Internal Market Thierry Breton, leave at the end of a news conference on the Digital Services and Digital Markets Acts at the European Commission headquarters in Brussels, Belgium December 15, 2020. Olivier......

EU approves German coronavirus state aid scheme

Reuters
FILE PHOTO: Margrethe Vestager, European Commissioner for A Europe Fit for the Digital Age and European Commissioner for Internal Market Thierry Breton, leave at the end of a news conference on the Digital Services and Digital Markets Acts at the European Commission headquarters in Brussels, Belgium December 15, 2020. Olivier......

Cleveland Deferring Payments on Small Business Covid Loans Until April

ClevelandScene
Since this summer, the City of Cleveland has loaned roughly $1.6 million to local small businesses in an effort to help offset the costs of hardship and lost revenue suffered during the pandemic. The loans of up to $10,000 each — disbursed to 161 Cleveland businesses — were meant to......

Departing EXIM chief urges Biden team to counter Chinese lending dominance

Reuters
By Andrea Shalal, David Lawder WASHINGTON (Reuters) – The head of the Export-Import Bank of the United States (EXIM) on Monday urged the Biden administration to keep pushing to neutralize Chinese export subsidies and help U.S. companies compete, building on gains made under Donald Trump. Chairman Kimberly Reed, a political......

DHFL creditors vote in favour of Piramal’s $5 billion bid – source

Reuters
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai, India, January 31, 2019. REUTERS/Francis Mascarenhas/Files MUMBAI (Reuters) – Creditors of India’s Dewan Housing Finance Corp have voted in favour of a 372.5 billion rupees ($5.09 billion)takeover bid submitted......

Philippines, China vow cooperation for post-pandemic recovery

Reuters
MANILA (Reuters) – Foreign ministers of China and the Philippines on Saturday committed to prioritising post-pandemic recovery efforts as senior Chinese diplomat Wang Yi wrapped up a week-long visit to four Southeast Asian countries. Philippines President Rodrigo Duterte in March imposed one of the world’s longest and strictest lockdowns to......

Wells Fargo posts higher quarterly profit

Reuters
FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon (Reuters) – Wells Fargo & Co reported a higher quarterly profit on Friday, as stabilizing credit costs helped offset the hit from low-interest rates meant to prop up the ailing economy during......

IMF says board approves $487.5 million disbursement to Angola

Reuters
FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The International Monetary Fund said on Monday its executive board approved a disbursement to Angola of about $487.5 million after completing a fourth review of the African oil......

Exclusive: Chinese regulators to push tech giants to share consumer credit data – sources

Reuters
HONG KONG (Reuters) – China plans to push tech giants including Ant Group, Tencent and JD.com to share consumer loan data to prevent excess borrowing and fraud, two people with knowledge of the matter said, in Beijing’s latest tightening of scrutiny. FILE PHOTO: A sign of Ant Group is seen......

World Bank working with countries to resolve vaccine indemnification hurdles

Reuters
FILE PHOTO: World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in Beijing, China November 21, 2019. REUTERS/Florence Lo WASHINGTON (Reuters) – The World Bank is working closely with over 100 countries to pave the way for them to receive low-interest loans and funding......

Chinese watchdog to encourage rural bank mergers

Reuters
FILE PHOTO: Surveillance cameras are seen outside the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China December 13, 2018. Picture taken December 13, 2018. REUTERS/Stringer BEIJING (Reuters) – China’s top banking watchdog said on Tuesday it would encourage founders of rural banks to boost capital, and would......

Coronavirus relief bill makes it easier for companies to pay down workers’ student loans

CNBC
CNBC – For more and to sign up click here The government’s stimulus response to the pandemic may accelerate the trend of companies offering student loan assistance as a benefit. Mark Chilton | iStock | Getty Images Student loan assistance, which started as a niche offering by a handful of......

Small mom-and-pop businesses that took PPP loans may face a surprise tax bomb

CNBC
CNBC – For more and to sign up click here Letizia Le Fur | ONOKY | Getty Images While the federal Covid relief bill addresses a key concern for small businesses with forgivable loans, these firms could still face a tax hit — this time on their state returns. In......

India’s financial sector faces challenging times ahead – RBI

Reuters
MUMBAI (Reuters) – India’s financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans, the Reserve Bank of India (RBI) said in a report on Tuesday. FILE PHOTO: A worker walks past the logo of Reserve Bank of......

China issues draft rules on bank units’ sales of wealth management products

Reuters
FILE PHOTO: A man rides an electric bike past the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. REUTERS/Stringer/File Photo BEIJING (Reuters) – China’s banking and insurance regulator issued draft guidelines on Friday on sales of wealth management products by commercial banks’ wealth management......

China leaves lending benchmark LPR unchanged for 8th straight month

Reuters
FILE PHOTO: A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee SHANGHAI (Reuters) – China left its benchmark lending rate for......

Bank of Israel to offer non-bank credit deals to COVID-hit small businesses

Reuters
People wear protective face masks as they shop at a market amid Israel’s second-wave coronavirus disease (COVID-19) lockdown, in Jerusalem October 5, 2020. REUTERS/Ammar Awad JERUSALEM (Reuters) – The Bank of Israel said on Sunday it would start offering repo transactions with supervised non-bank credit providers to increase the supply......

58 Americans Share Their Student Loans And The Rest Of The World Can’t Understand How This Can Be Real

IA
Higher education is meant to get you ahead of the competition. But if you study in the US and have to pay tens of thousands of dollars for it, in a way, the diploma also sets you back. While the country remains the world’s most popular destination for international students,......

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