Banks News Updates
Gulf Bank Climbs to October High as Loss Narrows, Sees Breakeven (Bloomberg)
22 February 2010
Feb. 23 (Bloomberg) -- Gulf Bank KSC rose to the highest in more than four months after the Kuwaiti lender said it expects to break even in the first half of this year after narrowing the loss.
Eskom’s World Bank Loan Opposed by Groups, Business Report Says (Bloomberg)
22 February 2010
Feb. 23 (Bloomberg) -- South African environmental groups are opposing a $3.75 billion World Bank loan to power utility Eskom Holdings Ltd., Business Report said, citing groundWork Director Bobby Peek.
Judge criticizes, but approves, settlement with Bank of America (Washington Post)
22 February 2010
A federal judge on Monday approved a $150 million settlement between the Securities and Exchange Commission and Bank of America on narrow legal grounds, but derided as "half-baked justice" the regulator's decision to settle with the bank over allegations it lied to investors.
Judge OKs $150M settlement for Bank of America (USA Today)
22 February 2010
A federal judge said he'd approve a $150 million settlement between the SEC and Bank of America to end civil charges linked to Merrill Lynch.
World Bank, Shakira join forces to aid young children (AFP via Yahoo! News)
22 February 2010
The World Bank and Grammy Award-winning singer Shakira teamed up Monday in a 300-million-dollar joint initiative aimed at helping young children in Latin America and the Caribbean.
Bank Fund Rallies With Regions (Forbes)
22 February 2010
The SPDR KBW Bank ETF outperforms Monday, while a natural gas fund stumbles.
Judge OKs "half-baked" SEC-Bank of America accord (Reuters via Yahoo! News)
22 February 2010
Bank of America Corp won approval of a $150 million settlement with the U.S. Securities and Exchange Commission over the Merrill Lynch & Co merger, though the federal judge who signed off on the accord called it "half-baked justice at best."...
ECB exec defends non-use of IMF for Greece - Budapest Business Journal
22 February 2010
ECB exec defends non-use of IMF for GreeceBudapest Business Journal... than a Greek use of International Monetary Fund support, European Central Bank executive committee member Lorenzo Bini Smaghi said on Saturday. ...
Spanish stocks - Factors to watch on Tuesday - London South East
22 February 2010
Spanish stocks - Factors to watch on TuesdayLondon South EastThe Spanish bank has sold 2.5 percent of stock market operator BME for between 42-43 million euros ($57.22-58.58 million). The Spanish construction and ...
A Pat on the Back for China on Treasurys, Yuan - Wall Street Journal (blog)
22 February 2010
A Pat on the Back for China on Treasurys, YuanWall Street Journal (blog)To be sure, China's statistics agency has one slot—held by current director Ma Jiantang—on the monetary policy committee of the People's Bank of China. ...
Saudi Al-Rajhi, Arcapita launch $500m fund - Middle East North Africa Financial Network
22 February 2010
Saudi Al-Rajhi, Arcapita launch $500m fundMiddle East North Africa Financial NetworkAl-Rajhi Capital, the largest commercial bank in the GCC in terms of market capitalization and the world's largest Islamic bank, and Arcapita also announced ...
Singapore January Consumer Prices Rise - RTT News
22 February 2010
Singapore January Consumer Prices RiseRTT NewsING Bank NV's Asian economist Tim Condon said the boom-bust-renormalization of commodity prices of the last two years is working its way through Singapore's ...
RM35 Million For Resettlement Schemes In Rascom - Bernama
22 February 2010
RM35 Million For Resettlement Schemes In RascomBernama... announced financial aid for 477 students in the resettlement schemes concerned in the form of a savings account with the Bank Simpanan Nasional. ...
Power Vacuum: Did the End Justify the Means? - THISDAY
22 February 2010
Power Vacuum: Did the End Justify the Means?THISDAYThe US Supreme Court in MCCULLOCH held that Congress could create a national bank notwithstanding want of express enabling constitutional provision. ...