BLOOMBERG New Zealand’s government announced an inquiry into its banking sector amid concerns that lenders are making excessive profits. Cabinet has agreed to a market study into competition in the sector for personal banking services to ensure the market is working well for New Zealanders, Finance Minister Grant Robertson said in Wellington. It will be conducted by the antitrust watchdog …

BLOOMBERG Chinese banks followed the central bank by lowering their benchmark lending rates, although a relatively modest reduction to the mortgage reference rate disappointed investors. The one-year and five-year loan prime rates were reduced by 10 basis points each, according to a statement by the People’s Bank of China (PBOC). While that was in line with the reduction in the …

SHARJAH / GULF TIME UAE’s Favourite Indian Restaurant, India Palace, and favourite Asian restaurant Golden Dragon opens doors to two new outlets in Sharjah, giving more people in UAE the opportunity to indulge in authentic Indian cuisine and savor their legendary biryanis, carefully curated selection of Indian kebabs, and exquisite curries, in Sharjah at its new flagship location at Al …