| //23-03-2009 |
Since the later half of 2008, Samsung Investment Trust Management Co., Ltd. (Korea), DAIWA Asset Management Co. (Japan) and Mitsubishi UFJ Securities Co., Ltd. (Japan) have each earned, from CSRC (China Securities Regulatory Commission), the status as a Qualified Foreign Institutional Investor (¡°QFII¡±) in People¡¯s Republic of China.
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| //23-03-2009 |
At its meeting , the Supervisory Board of Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) appointed the following four executives to the Management Board with effect from 1 April 2009:
Michael Cohrs, Head of Global Banking
Jürgen Fitschen, Global Head of Regional Management
Anshu Jain, Head of Global Markets, and
Rainer Neske, Head of Private & Business Clients
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| //20-03-2009 |
Standard Chartered PLC announced another exceptional performance for 2008 with income rising 26 per cent to US$13.97 billion and operating profit before tax (OPBT) 13 per cent to $4.57 billion, in what was a difficult operating environment particularly in the second half. Almost 80 per cent of the income growth came from organic businesses.
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| //19-03-2009 |
TOKYO: The Japanese central bank said Wednesday that it will buy more government bonds from banks to boost lending and get funds flowing again in an economy mired in recession.
The Bank of Japan will increase its monthly purchase of government debt to ¥1.8 trillion, or $18.2 billion, from ¥1.4 trillion, it said in a statement. The central bank, which has bought government bonds since 1989, last raised its purchase amount in December.
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| //19-03-2009 |
Agenda for the annual general meeting of UBS AG on 15 April 2009
UBS AG today sent the agenda for the annual general meeting (AGM) of UBS AG on 15 April 2009 to its shareholders. The agenda items are as follows:
1. Annual report, Group and Parent Bank accounts for financial year 2008 Reports of the statutory auditors
1.1. Approval of annual report and Group and Parent Bank accounts
1.2. Advisory vote on principles and fundamentals of the new compensation model for 2009
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| //16-03-2009 |
By Oliver Suess March 15 (Bloomberg) -- Deutsche Bank AG Chief Executive Officer Josef Ackermann defended the bank’s profit goal and reiterated it doesn’t need government aid. “Profit is essential for a company to be able to secure jobs, pay taxes, ...
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| //16-03-2009 |
HORSHAM, England (Reuters) - G20 finance ministers' agreement to give more money to multi-lateral development banks will play a strong role in dealing with the global recession, South Africa's finance minister said.
The G20 finance ministers' communique released on Saturday said there was urgent need to find ways of increasing the resources of multilateral lenders, although the finance ministers failed to come up with any concrete figures.
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| //16-03-2009 |
In 2008, ICBC shook off the fallout of capital markets volatility and maintained momentum in steady and healthy development of assets trusteeship. With the net worth of assets under custody around RMB1.1438 trillion, ICBC had proven itself as the sole custodian bank managing assets exceeding RMB1 trillion at the end of 2008, a leader in this area for 11 consecutive years. Meanwhile, ICBC ranked No. 1 in securities investment funds, corporate annuities funds, insurance assets and other forms of trusteeship.
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| //16-03-2009 |
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| //10-03-2009 |
FRANKFURT -(Dow Jones)- Deutsche Bank AG's (DB) head of private and business clients Tuesday reiterated that the bank plans to add about 2,500 retail consultants and about 400 new retail locations in Europe by 2012.
Deutsche Bank plans to add around 1,250 new consultants and 150 new branches in its home German market during the period, Rainer Neske said at a conference in Mainz.
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| //10-03-2009 |
March 10 (Bloomberg) -- European stocks advanced for the first time in four days, led by financial shares after Citigroup Inc. said it’s having the best quarter since 2007, when the bank last posted a profit.
UniCredit SpA, Italy’s biggest bank, and Germany’s Deutsche Bank AG rose more than 9 percent after Citigroup’s Chief Executive Officer Vikram Pandit said the bank’s stock price doesn’t reflect its capital strength or earnings potential. Antofagasta Plc led a rally in mining companies as base metals climbed in London and the copper producer reported higher profit.
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| //10-03-2009 |
World Bank says global economy to shrink for first time since World War II, dragged down by sharp decline in industry, trade.
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| //09-03-2009 |
Bank of America Corp (BAC.N) can avoid the fate of rival Citigroup Inc (C.N) and post strong earnings once the turmoil is over, Barron's said.
Shares of Bank of America have sunk 75 percent so far this year, on fears that the largest U.S. bank by assets could follow the steps of Citigroup, whose shares fell below $1 last week hurt by doubts about its ability to survive the financial crisis.
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| //09-03-2009 |
John McCain and Richard C. Shelby, two high-profile Republican senators, said on Sunday that the government should allow a number of the biggest American banks to fail.
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| //09-03-2009 |
Deutsche Bank's ship financing business, which has been operating under the name of 'Deutsche Shipping' since May 2008, remains on track for success. Ralf Bedranowsky, Global Head of Deutsche Shipping, and Annemarie Ehrhardt, Head of CRM Shipping, presented the results for the 2008 financial year in Hamburg.
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| //06-03-2009 |
March 6 (Bloomberg) -- TCF Financial Corp., the second- largest bank based in Minnesota, never made a subprime loan and hasn’t lost money since 1995, so its top executive is asking why the company should help clean up a mess left by larger rivals.
“I’m kind of bitter,” said William Cooper, chief executive officer of the 448-branch bank, adding that over the years TCF has invested about $1 billion in the Federal Deposit Insurance Corp.’s fund that guarantees bank deposits. “We pay for the excesses of our competitor over and over again.”
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| //06-03-2009 |
Peter Kurer, Chairman of the UBS Board of Directors, has decided not to stand for re-election at its Annual General Meeting on 15 April 2009. The UBS Board of Directors is nominating Kaspar Villiger as a candidate for the role of Chairman.
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| //06-03-2009 |
Profitable business model
Pre-tax profit for 2008, excluding goodwill impairment, of US$19.9 billion, down 18 per cent. On a reported basis, pre-tax profit was US$9.3 billion, down 62 per cent.
Diversified business model delivers profits in every region except North America and every customer group except Personal Financial Services.
Earnings per ordinary share excluding goodwill impairment down 18 per cent to US$1.36 (2007: US$1.65). On a reported basis, earnings per share was US$0.47, down 72 per cent (2007: US$1.65).
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| //04-03-2009 |
HONG KONG -(Dow Jones)- HSBC Holdings PLC's (HBC) GBP12.5 billion rights issue has received pledges of support for 40% of the transaction due to commitments by Hong Kong tycoons to take on the role as sub-underwriters, a person familiar with the situation said Wednesday.
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| //04-03-2009 |
Mar 04, 2009 (Datamonitor via COMTEX) -- HSNGY | Quote | Chart | News | PowerRating -- Hang Seng Bank, which is majority owned by HSBC Holdings, has announced that Raymond Or will retire from his position as vice chairman and CEO of the bank, effective May 6, 2009. Margaret Leung, currently group general manager and global co-head of commercial banking for the HSBC Group, will take up Mr Or's role.
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