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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
Written by on September 30th, 2007 with no comments.
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ING Direct, a subsidiary of the Dutch financial group, is to take over the customers and insured deposits of NetBank, an online lender with $US2.5 billion ($2.8billion) in assets that was shut down over the weekend by the US Government following losses
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Investment banks are quietly lending to private equity groups looking to do mid-market deals while several large buy-outs remain on hold because of the consequences of the credit squeeze.The total value of deals worth less than ,500m (349m) surpassed
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CHICAGO, IL, United States (UPI) — Bank of America says it will lay off about 2,500 Illinois employees during the next two years after completing its acquisition of LaSalle Bank. Bank of America acquired LaSalle, Chicago’s second-largest bank, for $21
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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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SHANGHAI, Sept 29: China’s central bank plans to issue over 100 billion yuan ($13.3 billion) of three-year bills after next week’s long holiday to absorb funds from the money market, market sources said on Saturday. The bills are expected to be sold to
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AMSTERDAM, Sept 29: The world’s major central banks are less likely to influence long-term interest rates, which partly explains the build-up of excess liquidity in debt markets, former Federal Reserve chairman Alan Greenspan said on Saturday. “The Fed,
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ISLAMABAD, Sept 29: In an attempt to ease the tension between the State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) over the Draft Financial Services Commission Act (FSC Act), the later on Saturday decided to
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The percentage of bankrupts who are retired has more than doubled in the past five years because of banks offering easy credit and rising fuel and food prices. The number of old age pensioners failing to meet their debts has risen to 7,900 this year, up
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The pay of Britains leading executives rose 16 per cent last year, a sharp increase from last years rise of 9 per cent, according to a survey by KPMG. The rise in the total pay for chief executives has been revealed as unions put increasing pressure on
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