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Commercial banks

Countrywide Financial Corp

Judge approves tentative deal for Countrywide

Judge Mariana Pfaelzer of the US District Court of Los Angeles temporarily approves Countrywide settlement for devalued residential mortgage backed securities.

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Morgan Stanley

Morgan Stanley projects recovery in Middle Eastern investment banking market

The Gulf region, after years of doldrums, is now on the road for recovery according to Morgan Stanley executives.

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General Electric Co

Russia's Sovcombank agrees on purchase of local GE Money Bank unit

General Electric decided to exit from its local banking unit for an undisclosed amount.

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Chong Hing Bank

Chong Hing Bank shares plunge as trading resumes

After accepting Yue Xiu Group's takeover bid, shares of Chong Hing Bank dropped the most in five weeks.

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Bank of America

Countrywide verdict a major victory for US Justice Department- report

The US Justice Department scored a major win when a New York federal jury found the Countrywide unit of Bank of America guilty for mortgage fraud.

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JPMorgan

JPMorgan and FHFA forge settlement agreement

JPMorgan to pay FHFA USD5.1 billion as settlement for loans and mortgage backed securities issues.

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LNG

Loans set to fund the Cameron LNG Project being lined up

The consortium running the Cameron LNG Project has lined up loan financing for the capitalization needed for the project.

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International Petroleum Investment Company

IPIC pays off loan that purchased bank stake

A USD2 billion loan was paid off in full by state owned IPIC from RHB Capital.

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Credit Suisse

FIRREA law's coverage exempts no one

The investigation into improprieties related to mortgage backed securities hinges its legality in a 1989 law.

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Emirates NDB

Emirates NBD to exit from Union Properties

Emirates NBD would be exiting from its remaining 15% stake in property developer Union Properties.

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First Tennessee Bank

Tennessee bank robbery injures one

A First Tennessee Bank employee was injured in a Wednesday morning robbery.

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HSBC Holdings Plc

Saudi debt and equity capital markets hire HSBC on deals

Saudi Arabia borrowers hired HSBC to manage their debt and equity capital market deals.

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Wing Hang Bank

OCBS mulls bid for Wing Hang Bank- sources

Sources told Bloomberg that Singapore-based Oversea-Chinese Banking Corp was reviewing a bid for Hong Kong-based Wing Hang Bank.

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Grupo Financiero Inbursa

Inbursa in talks to acquire Standard Bank's Brazil unit for USD 59.3 million

Grupo Financiero Inbursa was in discussions with Standard Bank Group to buy the latter's Brazilian business, sources told Bloomberg.

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Hong Kong Stock Exchange

Chong Hing Bank trading halted pending confirmation of buyout

Share trading of Chong Hing Bank and its parent company were suspended temporarily pending confirmation of the sale of the bank to Yue Xie Group.

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