The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.
Investors
Qatar energy firm GIS to buy out Japan partner with 30% stake acquisition
Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
California's CoreLogic acquires catastrophe modeling firm EQECAT
Irvine, California-based business analytics firm CoreLogic bought Oakland, California-based catastrophe risk modeling firm EQECAT for a yet undisclosed sum from its parent company ABS Group.
Gulf stocks soars this year - analysts
Majority of the stocks in Gulf markets recorded impressive gains this year, proving that the region has been recovering from the effects of the worldwide financial crisis in 2008 and 2009, Arabian Business said in its report.
Dubai's Al Habtoor Group to reshuffle board to improve company growth
In its bid to improve the growth of the company overall, Dubai conglomerate Al Habtoor Group had commissioned a shakeup of its boards across all of its business units, including its legal and audit boards.
Latest News
Shareholders of Banca Monte dei Paschi di Siena SpA reportedly sided with main shareholder Fondazione Monte Paschi with regard to postponing the cash call until May of next year.
A Reuters report said Alessandro Profumo, chairman of Monte dei Paschi di Siena, will be revealing his decision whether to stay or resign from his post at the Italian lender in a January meeting.
While US and foreign banks do away with risky investments like municipal bonds, hedge funds had taken advantage with the loss of a competitor and increased their positions in such assets, a Barron's report said.
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
Popolare Vicenza Chairman Gianni Zonin told an Italian daily that Banca Popolare di Vicenza intends to grow its branches to a thousand from its current 690 through acquisitions.
Carl Icahn has proposed that Apple increase its stock buyback program to $50 billion but Apple cited reasons why shareholders should not vote for it.
Aliko Dangote, Africa's richest man with about $22 billion net worth, is set to spend $9 billion to build the largest privately-owned oil refinery in Nigeria.
The Old Ghost Road cycle trail, which is developed by Mokihinui-Lyell Backcountry Trust, received $800,000 from the Department of Conservation of New Zealand to complete the project.
Cominar Real Estate Investment Trust, Quebec's biggest commercial property owner and manager, has bought Montenach Mall in the Beloeil suburb for $60 million. The said mall has an area of 328,050 sq. ft. and is 93.2% rented.
