Germany and China plot to turn Frankfurt into EU finance powerhouse after Brexit

The bilateral pledge came as a result of German Finance Minister Olaf Scholz visiting the Chinese capital this week. Mr Scholz met China’s vice-premier Liu He who promised to take down economic hurdles for German financial institutions interested in doing business in his country. The German minister said he would reciprocate, hoping Chinese banks could be persuaded to open in Frankfurt, the heart of Germany’s finance industry, turning the city into a European powerhouse after Britain leaves the EU. According to German newspaper Suddeutsche Zeitung, the two officials signed three…

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Indian travel freaks turn to lenders

Desire to visit exotic spots, expensive tickets seen as reasons; loans offered from ₹50,000 to ₹7.5 lakh Indians are increasingly using debt to finance travel, according to travel portals and lending platforms. “There are two perspectives on this, quantitative and qualitative,” Veetika Deoras, COO, Digital Business at Tata Capital told The Hindu. “Looking at the qualitative, there is an increasing trend one is seeing where people are open to borrowing for experiential elements like travel.” According to Qbera.com, an online lending platform, on an average, people in the age group of 27-40…

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Paranthas at Shimla’s Coffee House will turn the eatery into a dhaba: Old-timers

The famed Indian Coffee House on The Mall in Shimla will start serving snacks other than south Indian delicacies from Monday. The old-timers are distinctly unhappy. The Coffee House says the change is necessitated by economic reasons. But those who have patronised it for decades say the eatery will soon lose its character. “To our dismay, the Coffee House management has decided to make it a ‘dhaba’ from May 1. Perhaps they are not aware that there are a number of ‘dhabas’ in Shimla,” BD Sharma, a former press secretary…

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