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WASHINGTON (AP) - Rolling out powerful new weapons against the financial meltdown, the Bush administration and the Federal Reserve pledged $800 billion Tuesday to blast through blockades on credit cards, auto loans, mortgages and other borrowing. Total bailout commitments neared a staggering $7 trillion.
HONG KONG/NEW YORK: China suspended Ant Group's US$37 billion listing on Tuesday, thwarting the world's largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma.
BEIJING: China’s central bank and regulators issued draft rules on Monday to boost the oversight of online micro-lending as it tries to rein in rising debt levels in the coronavirus-hit economy.
JACK Ma’s Ant Group is seeking to raise at least $35 billion in its initial public offering after assessing early investor interest, people familiar with the matter said, putting the Chinese fintech giant on track for a record debut sale.
This follows early assessment of investor interest
Malayan Banking Bhd (Maybank) reported a drop in its fourth quarter net profit as a result of writing down long-standing non-performing loans but declared a huge final dividend of 60 sen a share that, together with its interim payouts, exceeded the bank's net profit for the whole year.