08 Feb '13, 6am

China PBOC Names ICBC as Yuan-Clearing Bank in Singapore: Industrial & Commercial Bank of China Ltd. (1398.HK) h...

Industrial & Commercial Bank of China Ltd. (1398.HK) has won the bid to clear yuan-denominated trades in Singapore, China's central bank said Friday.The move was made after negotiations with Singapore authorities, the People's Bank of China said in a statement posted on its website. ICBC, China's biggest bank by assets, had been competing with its smaller rival, Bank of China Ltd., for the right to clear yuan trades in Singapore since last year. Bank of China has traditionally dominated the yuan-clearing business outside mainland China, having served for years as the sole yuan-clearing bank in Hong Kong and recently appointed to the role in Taiwan. Singapore is up against Taipei, London, Tokyo, Luxembourg and Kuala Lumpur in an effort to become the world's second offshore yuan-trading hub after Hong Kong. China hopes to promote the use of the yuan in international trade an...

Full article: http://www.foxbusiness.com/news/2013/02/08/china-pboc-nam...

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UPDATE 1-China names ICBC as yuan clearing bank...

news.yahoo.com 08 Feb '13, 7am

(Adds details, background, quote) BEIJING, Feb 8 (Reuters) - China has named Industrial and Commercial Bank of China (ICBC...

Would You Trust a Website With Your Paycheck?

spectrum.ieee.org 08 Feb '13, 3pm

We can go back to reiterate that the money is stored in an FDIC-insured interest-bearing account at our partner bank, the ...

China's forest privatization move threatens pandas

China's forest privatization move threatens pandas

news.mongabay.com 08 Feb '13, 5am

mongabay.com February 08, 2013 Giant Panda. China's decision to open up collective forest for sale by individuals to outsi...

Report: nearly half the timber from Mozambique ...

news.mongabay.com 07 Feb '13, 8pm

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INFORMATION WARFARE: China Denies, Defies And K...

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February 8, 2013: Several major American media outlets (including the NY Times and Wall Street Journal) admitted that thei...

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