The China Banking Regulatory Commission (CBRC) has decided to keep a close watch on growth in bank lending, according to the China Securities Journal. Chairman Liu Mingkang said the Commission will be watching the capital adequacy ratio and loan loss coverage ratio of individual banks. The commission will also help commercial banks to efficiently manage their assets.
Argentina’s economy is to grow between 7.5 and 8% this year, and will expand at least 5.5% in 2007, the Argentine Institute of Finance Executives has estimated. It raised its growth forecast for this year in its monthly report, which also predicted that investment and consumption would gain on exports as a share of aggregate demand. The report predicts a slowdown in imports, and warns that the rise in labour costs, taxes and business costs over the last 30 months could affect the profitability and financing capacity of companies.
The National Bank of Slovakia sustained a 21 billion koruna loss from January to July. In line with the bank’s new accounting methodology this result did not include a revalution of the bank’s financial assets due to changes in the exchange rates, which amounted to 8 billion koruna over the period. The bank registered a loss of 663 million koruna in 2005.
India’s tax revenues for the first four months of the current fiscal year were up 61.2% on last year. Direct tax collection reached 360.6 billion rupees. Corporate tax collection was up 85% to 195.5 billon rupees. Income tax collection was up 39.8% to 118.2 billion rupees.