Bank Of China
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Reserve Bank of India grants licence to Bank of China to operate here
Fp Staff •RBI approval follows Prime Minister Narendra Modi's commitment that India would expedite procedures to allow the BoC to set up branches in India.
China's central bank wants to regulate power usage of bitcoin miners for reducing the scale of their production
•China had ordered all initial coin offerings to cease and all cryptocurrency trading exchanges to be shuttered with the aim of containing financial risks.
China orders all Beijing-based cryptocurrency exchanges to cease trading and close down
Kshitijp •Exchanges were also told to stop allowing new user registrations as of 15 September, according to a government notice signed by the Beijing city group.
China's focus on short-term targets puts mid-term growth at risk: IMF
•The main cost of stronger growth in China "is further large increases in public and private debt", the IMF said in its annual review of China's economy.
US court issues show-cause notice to Sahara in $350-mn lawsuit
Fp Archives •In fresh troubles for Sahara, a US court has issued show-cause notice to the group in connection with a $350 million lawsuit seeking attachment of its two prized hotel assets here -- Plaza and Dream Downtown.
Subrata Roy has no funds to bail himself out but Sahara is bidding for Grosvenor again
Fp Staff •However, it is unlikely that the group will get enough funds to buy the iconic hotel back
Sahara says submissions to SC can't be subject of media trial
Fp Archives •In a statement, Sahara said "submissions made before the court for adjudication in a sub-judice matter cannot be subjected to public debates and speculative media trials, as the same can attract contemptuous liability".
Sahara's Grosvenor House put on sale by Bank of China; may fetch Rs 5,000 cr
Fp Archives •In fresh troubles for crisis-hit Sahara, its over Rs 5,000-crore worth Grosvenor House hotel has been put on sale by the lender Bank of China after a default, which the group attributed to certain "technical breaches".
Sahara files lawsuit against Mirach for forgery, says new deal soon
Fp Archives •Sahara and Mirach were asked to finalise their deal by 20 February to help arrange funds for securing release of Roy and his two colleagues, who have been lodged in Tihar Jail for almost a year now.
Sahara's Subrata Roy an acquirer of assets, not seller, says Mirach's Saransh
Fp Staff •The Mirach Capital Group chief did not agree that his firm had to do anything with the deal not working out smoothly.