Latest news with #AgriculturalBank
Zawya
a day ago
- Business
- Zawya
Egypt: FRA approves 11 institutions to register for secondary market activity
Egypt - The Financial Regulatory Authority (FRA) has approved 11 institutions to regularize their status and register in its official register for dealing in government securities and financial instruments in the secondary market, as per a statement. The approved list spans 10 banks and one brokerage firm: the Agricultural Bank of Egypt, Faisal Islamic Bank of Egypt, Suez Canal Bank, Banque du Caire, Crédit Agricole Egypt, Citibank Egypt, Attijariwafa Bank, Arab Bank Egypt, MIDBANK, Al Baraka Bank–Egypt, and Al Ahly Pharos Securities Brokerage Company. This move is in line with the FRA board of directors' resolution No. 232 of 2024, which governs registration for participation in the secondary market for government securities and financial instruments, and the FRA Chairman's resolution No. 394 of 2025, which extended the deadline for entities to regularize their status. The register includes entities eligible to deal in the secondary market, such as non-primary dealer banks, licensed brokerage firms, and companies managing investment funds or securities portfolios. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Perth Now
2 days ago
- Entertainment
- Perth Now
The Perth YouTuber telling WA stories you've never heard of
A Perth YouTuber is growing a strong following online with his videos dedicated to exploring WA's surprising, quirky and forgotten history. Brendan, behind Brendan's Odyssey, produces original videos uncovering abandoned sites, once popular but now dilapidated WA attractions and unknown facts about the State. He started the account two years ago but things really picked up for the local creator when he made a video on the Perth Entertainment Centre, which has accumulated more than 120,000 views and counting since 2024. 'I sort of just got lucky with the algorithm, I released two videos around the same time that both blew up,' Brendan said. 'One was about the remains of the tram network that used to be around Perth and also a video about the Perth Entertainment Centre. Brendan said his list of story ideas is constantly growing. Credit: @brendansodyssey. 'Those two videos sort of took off and that really helped build an audience.' It can take Brendan weeks to make a video from start to finish since he works full time and uses his weekends for researching, urban exploring, filming and editing, although he typically works on a few projects at a time. He launched his YouTube channel after seeing adventure and history creators around the world making fascinating content, which inspired him to point the lens at WA's special sites and characters. 'There's a lot of untold (WA) stories out there, which a lot of them are only in text form,' Brendan said. 'I want to tell the stories, I feel like Perth gets forgotten a bit in the scheme of Australia, you know, we're pretty isolated from everyone else.' The local creator dedicates his free time to producing the videos. Credit: @brendansodyssey According to his statistics, most of Brendan's audience is from WA, which has led to many exciting story suggestions. One of those being his video, Was this the WORLD's smallest bank?, on an unusually tiny building that operated as a brand of the Agricultural Bank in Shackleton, which is about 200km east of Perth. He also received dozens of requests for a video on Atlantis Marine Park, an abandoned theme park in Two Rocks, which he explored the remains of. One of Brendan's favourite videos to make was on Carmel Mullally, who spent 50 years fending off attempts to buy her home, a workers cottage, in the Fremantle Port. 'When the whole harbour got redeveloped in the 1960s, she basically refused to leave,' Brendan said. 'Her entire street was demolished but she stayed there up until nearly her death in 2022. 'But her cottage still exists and has been heritage listed. 'She is definitely one of the cooler characters I've come across in a video.'
Yahoo
26-02-2025
- Business
- Yahoo
China to Inject at Least $55 Billion of Fresh Capital Into Several Big Banks
(Bloomberg) -- China plans to start re-capitalizing three of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled last year to shore up the struggling economy. NYC's Congestion Pricing Pulls In $48.6 Million in First Month NYC to Shut Migrant Center in Former Hotel as Crisis Eases The Trump Administration Takes Aim at Transportation Research New York's Congestion Pricing Plan Faces Another Legal Showdown Shelters Await Billions in Federal Money for Homelessness Providers Authorities are looking to inject at least 400 billion yuan ($55 billion) of fresh capital into the first batch of Agricultural Bank of China Ltd., Bank of Communications Co. and Postal Savings Bank of China Co., said the people, asking not to be identified discussing private information. The plan, which could be completed as soon as the end of June, is subject to change and the amount for each bank is still being finalized, said the people. China's banking regulator first flagged its plan to replenish core tier-1 capital at the six top state lenders in September, without elaborating. The Ministry of Finance later said that it will issue special sovereign bonds to fund the injections, which will strengthen the capability of banks to fend off risks and spur lending. In total, China could inject as much as 1 trillion yuan of capital into its largest banks, with funding mainly from the issuance of new special sovereign debt, Bloomberg News reported last year. The Ministry of Finance, the National Financial Regulatory Administration, Agricultural Bank, Bank of Communications and Postal Savings Bank didn't immediately respond to Bloomberg requests for comment. Agricultural Bank rose 2.6% and Bank of Communications gained 2.2% in Hong Kong. China is beefing up the strength of its banking system — even though the top six have capital levels that far exceed requirements — after enacting a slew of stimulus policies including broad reductions to mortgage rates and slashing key policy rates. Enlisted to support the economy over the past few years, lenders such as Agricultural Bank and Postal Savings are now battling record low margins, sinking profits and rising bad debt. Chinese banks had typically relied on retained profits to increase capital buffers, and some also went on a debt issuance spree to take advantage of cheaper rates in the bond market. A capital injection from Beijing would mark the first such move since the global financial crisis in 2008. (Updates to include Postal Savings Bank in second paragraph.) Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Meet Seven of America's Top Personal Finance Influencers Why Private Equity Is Eyeing Your Nest Egg China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction ©2025 Bloomberg L.P. Sign in to access your portfolio
