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.
Legal & Regulatory
Tata-SIA obtains government approvals
The Foreign Investment Promotion Board provides approval Tata-SIA venture. The Indian government approved the proposal from Singapore Airlines to commence an aviation venture with Tata Sons through an initial foreign direct investment of USD49 million.
Bharti Airtel and Airtel Broadband set to merge
Bharti Airtel and Airtel Broadband had announced the approval of the merger plan between the two Indian telecommunications firms.
Lehman files suit against Giants Stadium over swap contracts
Lehman Brothers Holdings Inc and Giants Stadium LLC could not agree on the settlement amount of two interest-rate swap contracts the latter had cancelled.
India to begin regulatory framework for crowdfunding
As the UK and the US institute crowdfunding regulations, India is also drafting its own set of rules.
Latest News
Radian Group filed a case against former account manager Rhiannon Bolen for giving confidential data to Arch Capital Group.
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
US District Judge Jed Rakoff had set a hearing on the issues and a date for his rulings by December on the civil case against Countrywide Financial Corp's defective loan transactions with Fannie Mae and Freddie Mac.
As ordered by US District Judge Ronald Guzman, HSBC and individual plaintiffs would go into the process of evidentiary discovery.
Fund managers BlackRock Inc and Neuberger Berman Group LLC seek settlement in the amount of USD5.75 billion for mortgage backed securities fraud.
Under new Bank of Canada Governor Stephen Poloz, the bank retained its benchmark interest rate level for the 24th consecutive month.
Called expedited processing, the Telecommunications Regulatory Authority of UAE would allow direct offers of prepaid products to be made by telcos.
Upon appointment of the Dubai ruler, the Dubai Financial Market has a new chairman in Essa Kazim. The ruler of Dubai had appointed Essa Kazim to the position of chairman of the bourse operator Dubai Financial Market.
Nearly USD1 billion would be the settlement amount to be paid by Rabobank for allegations of interest rate manipulation for the Japanese yen.
