China 

Bad loans in China’s banking system mount, rise 3.6 per cent in second quarter

Chinese banks have reported an increase in bad debts and a decline in capital adequacy ratio in the second quarter, as the year-long trade war has hit the country’s economy hard.Total non-performing loans in the mainland’s banking system rose to 2.235 trillion yuan (US$316.6 billion) during the three months to June, up 78.1 billion yuan, or 3.6 per cent from the first quarter of this year. The non-performing loan ratio edged up by a marginal 0.01 percentage points to 1.81 per cent during the… Source link

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Vietnam 

Bad debts on the rise in H1 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Banks boosted lending in retail segments in H1, causing a rise in bad debts. — Photo zing.vn  HÀ NỘI — Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments. Latest financial statements of 21 banks showed their total non-performing loans (NPLs) rose by nearly VNĐ7 trillion (US$300.4 million) against the beginning of this year to nearly VNĐ85.75 trillion by the end of June. …

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Vietnam 

Banks step up bad debt recovery in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Sacombank headquarters in Hà Nội. Sacombank recovered bad debts worth more than VNĐ11 trillion (US$472 million) in H1 2019. Photo Sacombank HÀ NỘI – Some banks have recovered trillions of Vietnamese đồng in bad debt by selling off assets secured with non-performing loans in the first half of 2019. According to a representative of Sacombank, the lender has recovered bad debts worth more than VNĐ11 trillion (US$472 million) in the first half of the year, making a total of nearly VNĐ35.7 trillion since it started restructuring bad debts two years…

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China 

China’s weak exports in first half of 2019 are also bad news for its major trading partners

While the meagre 0.1 per cent rise in exports in the first six months of 2019 was bad news for China, it was even worse for many of its trading partners, with a flat performance by the world’s second large economy causing ripples through the tightly integrated supply chains created by globalisation.A decline in Chinese exports automatically dampens its demand for imports of components used in finished exports and that, in turn, hurts every other economy that sells to China.The biggest drop in… Source link

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Home 

Donald Trump wants a weaker US dollar. But that’s just bad economics

Is the tide finally turning against King Dollar? The Bloomberg Dollar Spot Index – a gauge of the greenback’s performance against a basket of other major currencies – has dropped 1.4 per cent since the end of May.Currency traders, moreover, are turning bearish on the dollar, increasing their underweight positions since the start of last month, according to data from Bloomberg.The slide in the dollar will embolden US President Donald Trump to step up his intervention to weaken the currency,… Source link

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Home 

Facebook’s Libra cryptocurrency may spell bad news for Hong Kong and mainland payment services – if regulators don’t step in first

The internet is buzzing after Facebook’s announcement of its new blockchain and cryptocurrency project, Libra – the company’s attempt to break into the global payments space and establish itself as a major player. The new currency will be managed by the Libra Association, a Switzerland-based non-profit organisation which will include many other members. Facebook also announced a digital wallet application, Calibra, where users buy, sell and trade the token.Use of the terms “blockchain” and … Source link

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Singapore 

Drones, bad weather cause flight delays and diversions at Changi Airport on Monday, Singapore News

SINGAPORE – Unauthorised drones caused flight delays and disruptions at Changi Airport on Monday night, just days after a previous incident saw 37 flights delayed. The Civil Aviation Authority of Singapore (CAAS) said on Tuesday (June 25) in response to media queries that approximately 15 departures and three arrivals were delayed, and another seven flights were diverted, due to bad weather and unauthorised drone activities. “As a precautionary measure, arrival and departure flights were carefully regulated for short periods of time between 8.07pm and 9.07pm,” the authority said in a…

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Home 

China looks to local asset management companies to help tackle bad loan problem, but Moody’s flags risks

The rise of local distressed asset managers in China over the last three years represents a change in the way regional non-performing loans are being handled from previous periods of credit distress, but they also raise a new risk, according to rating agency Moody’s.More than 50 provincial level distressed asset management companies (AMCs) are in operation, many of which were formed only recently, the rating agency said.Previously, non-performing loans (NPLs) were mainly addressed by China’s… Source link

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Vietnam 

VAMC to reclaim US$2.13 billion in bad debts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Last year, VAMC reclaimed VNĐ30.9 trillion of NPLs from 13 credit institutions by special bonds, meeting with 93.2 per cent of its set targets. — Photo vneconomy.vn   HÀ NỘI — The Việt Nam Asset Management Company (VAMC) is expected to reclaim a bad debt figure of VNĐ50 trillion (US$2.13 billion) in 2019, higher than the volume of 2018 which stood at VNĐ30.9 trillion ($1.32 billion). In addition, VAMC also plans to issue VNĐ20 trillion of special bonds to buy non-performing loans (NPLs) and will use cash to buy another VNĐ4.5 trillion…

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Home 

Opinion | South Korea’s economic slump a bad sign for Asian economies dependent on exports to China

Hyundai Motor vehicles bound for export await shipment at a port near Hyundai’s plant in Ulsan, South Korea, on January 22. Short on natural resources of its own, South Korea’s economy is heavily dependent on exports, making its economy particularly susceptible to changes in its trading partners. Photo: Bloomberg Source link

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