* Crackdown on shadow financing caused cash crunch, says China
* PBoC cash crunch statement: relief for some and pain for others
* Emerging Stocks Fall to 1-Year Low as CSI 300 Enters Bear Market
* Asian shares remain under pressure over China fears
* Qatar set for orderly transition of power
* Creditors in tussle over bankruptcy laws in Brazil
* US presses India to ease curbs on foreign investment and trade
* Citi set to open office in Baghdad
* UK and China establish currency swap line
* Snowden fallout hits China and Russia
* Mandela’s health remains critical
Crackdown on shadow financing caused cash crunch, says China
China sought to reassure investors that there was ample liquidity in the financial system and gave its first official indication on Sunday that the country’s sudden cash crunch was induced by a crackdown on shadow financing.
PBoC cash crunch statement: relief for some and pain for others
The People’s Bank of China on Monday finally went public over the country’s liquidity squeeze. Its first statement on the cash crunch helped ease the pressures in the money markets and bring down short-term borrowing costs. But it did nothing to reassure investors in the stock market, where the Shanghai Composite plunged 5.3 per cent, taking its losses over the last two weeks to more than 12 per cent.
Emerging Stocks Fall to 1-Year Low as CSI 300 Enters Bear Market
Emerging-market stocks tumbled to a one-year low, government bonds fell and currencies weakened after China signaled it will maintain efforts to curb credit growth in the world’s second-largest economy.
Asian shares remain under pressure over China fears
Asian shares remained under pressure on concerns about Chinese banks’ liquidity crunch and the prospect of the Federal Reserve tapering its massive stimulus, although Japanese stocks were supported by a weaker yen.
Qatar set for orderly transition of power
Qatar’s emir is preparing the ground for a transition of power, according to state-owned Al Jazeera television.
Creditors in tussle over bankruptcy laws in Brazil
When José Batista Sobrinho opened a butchers’ shop in a town in Anápolis, Goiás state, Brazil’s equivalent of the US Midwest, he could not have known that this tiny operation processing a couple of head of cattle a day would one day become the world’s largest beef processor.
US presses India to ease curbs on foreign investment and trade
The Obama administration will press India this week to ease restrictions on foreign investment and trade, as US companies grow increasingly angry about what they see as India’s hostile climate for international business.
Citi set to open office in Baghdad
Citigroup will become the first US bank to expand into Iraq in a bet on a long-term economic upswing of the oil-rich but war-torn country.
UK and China establish currency swap line
Britain and China have established a currency swap line, the first such deal with a Group of Seven country, in a sign of the growing internationalisation of the renminbi.
Snowden fallout hits China and Russia
When Edward Snowden leaked documents about US surveillance activities earlier this month, the 29-year-old former intelligence contractor said he wanted to start a debate about privacy protection for Americans in a new technological era.
Mandela’s health remains critical
The health of Nelson Mandela, the revered former South African president who has been in hospital for two weeks, has deteriorated and he is in a critical condition, South Africa’s president said.
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