September 30th, 2007

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Top US bank punts sub-Saharan outlook

Economic growth in sub-Saharan Africa is likely to remain high for the rest of the decade and will drive further positive changes in public and economic policy, according to a report by the Citibank group. David Cowan reports Growth has picked up in

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State officials were warned about Deutsche Bank contractor

State officials were warned that the contractor hired to demolish the toxic Deutsche Bank tower had deep ties to a company that caused previous fires, the Daily News has learned. One of the fires occurred in August 1996 at B. Altman’s department store in

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Call for Bank governor to serve one term

The Bank of England governor should only be allowed to serve one non-renewable term to help protect the Bank from political interference, George Osborne, shadow chancellor, will propose on Monday.Mr Osborne will tell the Conservative conference in

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HSBC to set up shop in UAE

HSBC is setting up the first brokerage company in the United Arab Emirates managed by an international bank as foreign interest in Gulf markets grows after last year’s crash. HSBC, which owns 49 per cent of the planned company, HSBC Middle East

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HSBC sets up brokerage company in UAE

HSBC Holding Plc said on Sunday it is setting up the first brokerage company in the United Arab Emirates managed by an international bank as foreign interest in Gulf markets grows after last year’s crash. HSBC, which owns 49 per cent of the planned

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Mitsubishi UFJ banking unit cuts profit outlook

TOKYO: Mitsubishi UFJ Financial’s main banking unit cut its half-year profit forecast 44 percent, citing a decline in the value of investments at subsidiaries. Group earnings will not be affected, it said. Earnings on a nonconsolidated basis will

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Advisers to lose 400m-plus on ABN

The likely collapse of Barclays 67.5 billion (47 billion) bid for ABN Amro this week will cost the British bank 80 million in fees paid to advisers. But the biggest losers, if ABN does reject Barclays, as most analysts expect, will be the six investment

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HSH Nordbank finances another portfolio acquisition by UBS in the Netherlands (DE/NL)

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Citibank bids farewell to outgoing GP CEO

Citibank, N.A. Bangladesh recently bade farewell to Erik Aas, outgoing chief executive officer of Grameeenphone, at a function in Dhaka, says a press release. Citigroup Country Officer Mamun Rashid handed over a small plaque to Aas as a token of

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Citigroup and Merrill Lynch invest in MCX

Merrill Lynch and Citigroup have each bought a 5 per cent stake in India’s largest commodities exchange, valuing the bourse, one of the world’s fastest-growing, at up to $1.1bn. Financial Technologies India, the company that controls Multi Commodity

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