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Posts published in “Day: June 21, 2017

Xi Jinping makes unusual move by appointing top party leaders for operational post on committee

by Choi Chi-yuk in South China Morning Post, June 21, 2017 Chinese President Xi Jinping has taken another step towards consolidating power by appointing a member of the top party echelon day to day operation position in a newly formed committee Xi held the first plenary meeting of the Central Commission for Integrated Military and Civilian Development, a group Xi created in January to foster military and civilian capacity integration, on Tuesday, according to the…

China’s regulators strive to keep up with fast-growing ‘fintech’

by Wendy Wu in South China Morning Post, June 21, 2017 From mobile payments to online lending, China’s boom in “fintech” applications is creating new headaches for regulators used to supervising conventional financial deals. If regulators stay out of the financial technology explosion, the popularity of non-conventional financial services may make the state-backed financial system irrelevant. That can create huge risks, as was the case in 2015’s stock market rout. But if regulators step in…

China’s authorities aware of financial risks but careful, patient measures needed

By Hu Weijia in Global Times, June 20, 2017 at 21:33:39 The author is a reporter with the Global Times. China has created “the largest macro bubble in our lifetime,” the New York Times said recently, citing an analyst at Capital Economics. Although exaggerated rhetoric is often used by Western economists in regard to the Chinese economy, risks in the country’s financial system do deserve attention. Financial risks are mounting on the back of the…

B’desh: 50 AL MPs under the scanner

by Abu Hayat Mahmud in Dhaka Tribune,June 21, 2017 The Awami League has started its groundwork for the 11th general elections in 2019, and the nation might see an unprecedented set of changes in the party nominations as a number of existing lawmakers are likely to be replaced by young and new faces. The ruling party has also started to make preparations to avert pre-election violence, much like the attacks by the BNP-led 20-party alliance…

Bangladeshi UN official charged with visa fraud, underpaying domestic worker

Report in Dhaka Tribune,June 21, 2017 US prosecutors have accused a United Nations employee in New York of committing visa fraud by bringing into the country a domestic worker from Bangladesh and then failing to pay her a lawful wage. Hamidur Rashid, a Bangladeshi national, was charged with visa fraud, fraud in foreign labour contracting and aggravated identity theft in a criminal complaint unsealed on Tuesday in Manhattan federal court. Rashid, 50, appeared at a…

China says it will link Pakistan corridor with project involving India

by Sutirtho Patranobis in Hindustan Times, June 21, 2017 Beijing: The China-Pakistan Economic Corridor (CPEC) will be connected to a corridor that involves India, Bangladesh and Myanmar through the sea, Beijing announced on Tuesday in its continuing efforts to bring Asia and Europe under President Xi Jinping’s multi-million dollar Belt and Road Initiative (BRI). Part of the plan is to link the South China Sea to the Indian Ocean, according to the “Vision for Maritime…