An internal inquiry is to be conducted by Lloyds Banking Group as to its foreign currency trading operations after being advised by the Financial Conduct Authority to review its processes and report irregularities.
Legal & Regulatory
Two Chinese banks do IPO in Hong Kong bourse
Hong Kong bourse recently listed Huishang Bank and Bank of Chongqing. A record HKD9. 21 billion or USD1. 19 billion was raised from its Hong Kong IPO for Huishang Bank after it had fixed the price slightly above the lowest rung in its price range at HKD3.
Dubai Holding ratings upgraded by Moody's
Upgrades were issued to the CPR and MTN of DHCOG including a positive outlook stamp of approval by Moody's Investor's Service.
METRIX Capital Group closes latest funding round
METRIX Capital Group closed its latest funding round at USD5 million in pledged amounts for its alternative loan program.
Lower Indian wireless spectrum pricing - government panel
A panel from the telecom ministry recommended cutting down the price for wireless spectrum in India.
Latest News
Vimpelcom's third quarter earnings affected by African and Asian regulations as well as Italy's fee charging ceiling for use of competitor networks.
The companies comprising the Kirch conglomerate testified the bank had assisted in the demise of the firm.
Chicago based law firm Freeborn & Peters had announced the hiring of Gary A. Jungels as Partner for its Corporate Practice Group.
Zamin Ferrous purchases Anglo American shareholdings in Amapa iron ore mine in Brazil. The mining consortium established by Pramod Agarwal, Zamin Ferrous, had completed the purchase of the Amapa iron ore mine located in Brazil.
Brussels had launched a full state investigation on the joint venture between Solvay and Ineos due to antitrust concerns.
ING Groep NV's Canadian online bank is to be known as Tangerine. ING Groep NV's Canadian online bank was purchased by the Bank of Nova Scotia.
The Norwegian oil fund sought prevented from investing in specific markets. The opposition Labour Party of Norway had proposed a ban on the country's USD800 billion wealth fund from investing in coal producers.
PPF Group NV agreed to purchase Telefonica Czech Republic's majority shareholdings. The PPF Group NV of billionaire Petr Kellner had agreed to purchase the controlling stake in Telefonica Czech Republic.
With vigorous criticism of the rules on banking exposure related to government related debt, the UAE central bank was forced to review the rules and study on how to lessen its harsh effects.
