Finance/Venture

Mashreq Bank

Dubai's Mashreq interested in Citigroup's Egypt retail business

Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.

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Standard Chartered

StanChart eyes bank stake sales as it tries to slim down

Standard Chartered's (STAN.L) abrupt move to shut its global equities business last week could be a prelude to the lender selling off stakes in a number of Asian banks as it looks to boost capital, people familiar with the lender's thinking said.

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National Bank of Abu Dhabi

Ten banks bid for Citigroup's Egyptian retail operations

Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.

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Sharjah Islamic Bank

Malaysia's $20 billion bank merger headed for collapse: sources

Malaysia's proposed $20 billion merger to create the world's biggest Islamic bank is likely to be scrapped after CIMB Holdings and RHB Capital failed to agree on new deal terms, people familiar with the matter told Reuters.

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Hacking on US government websites

Hacker posts client emails from Swiss bank BCGE

A hacker claiming to be behind a cyber attack on Banque Cantonale de Geneve on Friday divulged confidential client information after the Swiss bank failed to meet demands for payment.

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Banco do Brasil

Banco do Brasil gets central bank approval for Cielo venture

Banco do Brasil SA (BBAS3.SA), the nation's largest bank by assets, said on Friday it received approval from the central bank for a joint venture with card payment processor Cielo SA (CIEL3.SA), but it will not be able to book accounting gains from the deal.

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Automotive Industry

Quindell seeks to dispose of operating division

British technology and outsourcing company Quindell Plc said it had entered into exclusivity arrangements with a third party for possible disposal of an operating division to improve its working capital profile.

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Fosun International

China's Fosun to buy U.S. insurer to help finance acquisition spree

Chinese conglomerate Fosun International Ltd is making its first foray into the U.S. insurance market and buying property and casualty insurer Meadowbrook, a deal that it said would help it secure funds for further acquisitions.

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Novo Banco

Apollo Global may bid for Portugal's Novo Banco

Private equity firm Apollo Global Management LLC (APO.N) is considering making a bid for Portuguese lender Novo Banco SA, the bank carved out of Banco Espirito Santo SA (BES) (BES.LS), Bloomberg reported, citing people familiar with the matter.

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ECB headquarters

No need for ECB to buy sovereign bonds now: German economic adviser

The head of the panel of economic experts that advises the German government said on Sunday there was no reason for the European Central Bank (ECB) to start buying up sovereign bonds now to bolster euro zone growth.

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Stock Exchange

Japan Post: IPO to include separate listings of bank, insurance units

Government-owned Japan Post Holdings Co Ltd [IPO-JAPP.T] said it plans to list in the second half of the next business year and its bank and insurance units will go public at the same time, in what could be the biggest IPO of Japanese state enterprises in two decades.

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Money

Bosnia's Bobar bank shut, big depositors face losses

Bosnian lender Bobar Banka has been shut after its shareholders failed to come up with a recovery plan, the regional banking agency said, leaving its clients, including major state firms, at risk of losing some of their 250 million Bosnian marka ($156 million) in deposits.

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SMBC

SMBC to buy Citi Japan retail business in October

Sumitomo Mitsui Banking Corp (SMBC) will buy Citigroup Inc's (C.N) Japanese retail banking operations in October for about 40 billion yen ($330 million), people with knowledge of the matter said on Wednesday.

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Manulife Financial

Manulife U.S. unit to buy New York Life's retirement business

Largest Canadian insurer Manulife Financial Corp's (MFC.TO) U.S. unit will buy New York Life Insurance Co's retirement services business for an undisclosed amount.

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Alibaba Group

IPO bankers earn a merry Christmas with a bumper year

Bankers responsible for floating companies and selling new shares into the market will enjoy a well-earned rest this Christmas after their busiest year since 2007, having notched up business worth almost $865 billion in the last 12 months.

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