Chinese banks to face slower profits growth in 2014. World Economic Forum to be held in the next few days in Davos. China’s fixes asset investments showed stable growth in 2013. Wipro shares up by 4.5%.
By Wolf Richter:The four largest banks in China, the banks that have to officially show big profits and profit growth no matter what because they're an integral part not only of the government but also of China's miraculous debt-driven expansion, are showing officially tolerated signs of increasing stress.
Chanda Kochhar, CEO of ICICI, commented that the India needs to take example from China’s banking sector if it wants to be able to cope with its needs for economic and infrastructure development, reported Financial Times.
If one thought the schizophrenic lies out of Europe between 2010 and 2013 were bad enough (the bulk of which it now appears were orchestrated by Mario Draghi), here comes China, a country which already has a "credibility" issue so to say, which has no choice but to lie as blatantly as possible in order to preserve some semblance of stability.
By David Fry (ETF Digest): Greece is at a political impasse (as if you care now). Spain saw most bank stocks getting trashed (Santander down 6%) while sovereign debt exceeded 6% for the first time since November 2011-and that wasn't a great period.
China has spent 10 million yuan (1.5 million dollars) on computers for thousands of members of an advisory body attending the annual parliamentary session -- in an effort to reduce paper waste.The 2,000-plus delegates to the Chinese People's Political Consultative Conference -- from Mao Zedong's grandson to former Olympic champion hurdler Liu Xiang -- received a free Lenovo laptop worth 5,000 yuan (730 dollars).
TORONTO _ Ontario Liberals will be voting today for the delegates who will be eligible to vote for their next leader and the province’s next premier, with two women in the lead after Saturday’s balloting.
Sandra Pupatello, who quit politics in 2011, and former education minister Kathleen Wynne were the leaders in committed first-ballot delegates following Saturday’s voting, which took place in the north, east and suburban Toronto ridings.
Which side is right in the debate over spending cuts and the economy? The truth is that no-one can know. Because the only thing everyone can agree on is that we live in extraordinarily uncertain times.
But the question of how fast to the cut the deficit is one of the most important facing this country today. This week I've summarised the best arguments for each side. You should think about where you stand.