Tag: china bank

Star Casino Allegedly Hid $55M in Prohibited Chinese Gambling Transactions

August 25, 2022
Australiachina bankgamblingthe star casinoWorld
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Star Entertainment admits it wasn’t fully upfront with Queensland regulators when it changed a policy in order to conceal $55 million in prohibited gambling transactions from a Chinese bank. The casino operator allowed China UnionPay cardholders to withdraw cash to bet at its Brisbane and Gold Coast casinos but recorded those transactions as “hotel purchases”…

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China’s Banking and Property Sector Problems Affect Hong Kong: Analyst

July 28, 2022
Chinachina bankChina Business & EconomyChinese Regimeeconomic slowdownHong Kongunfinished buildings
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With the sluggish economy in mainland China’s banking and property system, with bank depositors unable to withdraw their money, and home buyers boycotting mortgage repayments to banks, Hong Kong banks’ loans to the mainland are affected and its banks face increased risks. “The impaired loan ratios for Hong Kong banks’ mainland loans will likely further…

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China’s Bank of Communications Boss Warns of Tough Year Ahead

March 25, 2022
Business & EconomyChinachina bankChina Business & Economyeconomy
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SHANGHAI—The president of China’s Bank of Communications Co. Ltd. (BoCom), on Friday warned it will be difficult for the lender to deliver satisfactory earnings this year. “This year has been the most complex year in my nearly 30 years in this business,” bank president Liu Jun told a news conference following BoCom’s annual results. Liu…

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