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ICBC manually settling Treasury trades days after cyberattack -sources

ICBC manually settling Treasury trades days after cyberattack -sources

by AIP Online Bureau | Nov 11, 2023 | Banking & Bancassurance, Eco/Invest/Demography, International News, Risk Management, Technology

ICBC was trying to minimize the risk impact and losses after the attack, which several experts blamed on hacking group Lockbit The Industrial and Commercial Bank of China’s access to an electronic settlement platform for U.S. Treasury securities remained...

China authorities ask Ping An to take controlling stake in Country Garden, sources

by AIP Online Bureau | Nov 8, 2023 | Eco/Invest/Demography, International News, Life, Regulation

China’s State Council, which is headed by Premier Li Qiang, has instructed the local government of Guangdong province, where both companies are based, to help arrange a rescue of Country Garden by Ping An, said two of the sources who have direct knowledge of the...

Fitch raises India”s medium-term growth estimate, cuts China”s

by AIP Online Bureau | Nov 6, 2023 | Eco/Invest/Demography, International News, Policy

Fitch made upward revisions to Brazil, India, Mexico, Indonesia, Poland and Turkey relative to its previous estimates. Fitch attributed the higher growth forecast for India to a swift recovery in labour force participation rates, following significant declines in 2020...

China basic pension fund posts 0.33% investment gain in 2022

by AIP Online Bureau | Nov 4, 2023 | Data, Eco/Invest/Demography, Pension & Social Security

The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4% since the end of 2016, when the national social security fund started to manage the pension’s investment The basic pension fund managed by...
China crackdown on cyber scams in Southeast Asia nets thousands but leaves networks intact

China crackdown on cyber scams in Southeast Asia nets thousands but leaves networks intact

by AIP Online Bureau | Oct 23, 2023 | Eco/Invest/Demography, International News, Policy, Regulation, Risk Management, Technology

The problem is an embarrassment for Beijing and is discouraging ordinary Chinese from traveling to Southeast Asia out of fear they might be duped or kidnapped and caught up in a cyber scam operation. In recent years, media reports have uncovered instances of young...
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