Banking industry
China's government has announced the launch of an ambitious programme to recapitalize the country's struggling state banks, injecting $45bn into two major institutions, China Construction Bank and Bank of China. The move aims to strengthen the weak link in China's booming economy and counter
Banking industry
The Philippine Social Security System has agreed to sell a 25% stake in Equitable PCI Bank to retail magnate Henry Sy's Banco de Oro, part of an effort to cut losses and recover from bad investments allegedly made by former President Joseph Estrada. The sale price is below
Banking industry
Bank of America's securities arm is being investigated by the Securities and Exchange Commission over alleged record-keeping violations related to an inquiry into trading activities. The S.E.C. claims that the unit was improperly storing certain documents and did not produce them in a timely manner. This
Banking industry
As the year 2003 comes to a close, investors are looking for strategies to boost their portfolios in the remaining weeks of the year. StockPickReport.Com, a reputable stock research firm, has released its latest short-term stock recommendations, highlighting five stocks with promising potential for price movement over the next
Banking industry
The Egyptian banking sector is characterized by a public-sector dominance, with the Central Bank controlling the banking system and setting monetary policies. The sector has been plagued by problems such as high levels of non-performing loans, stifling bureaucracy, and massive overstaffing, leading to a liquidity crisis since 1998. The government
Banking industry
In the late 1980s and early 1990s, the Dutch financial sector underwent significant consolidation, driven by bank mergers and the formation of financial conglomerates. This led to a reduction in the number of companies participating in the financial market. As a result, the newly consolidated Dutch financial sector expanded rapidly
Banking industry
The debate over Britain's potential membership in the eurozone has reignited as euro notes and coins prepare to arrive on British soil. A key test for Britain's entry into the eurozone is whether its economy has converged sufficiently with the eurozone to prosper when shackled to
Banking industry
As preparations for the introduction of euro notes and coins across Europe are nearing completion, ECB President Wim Duisenberg has given his clearest indication yet that he intends to remain in the role until the end of 2002. In an interview on Dutch television, Duisenberg, 66, stated that he would
Banking industry
Oneida Financial Corp., the parent company of The Oneida Savings Bank, has confirmed the completion of the previously announced purchase of Noyes & LaLonde, Inc., an insurance agency based in Liverpool, New York. The acquisition, which was completed on January 1, 2001, marks the expansion of Oneida Financial Corp.'
Banking industry
Cleveland-based Third Federal Savings & Loan Association is the top lender for new homes in Northeast Ohio, according to Realty One's study of the first six months of 2000. The bank wrote mortgages on 555 new homes, capturing 23% of the new-home market, with an average loan of
Banking industry
The Korean government and the United States have reached an agreement on a revised Status of Forces Agreement (SOFA), which broadens the jurisdiction of Korean authorities over criminal suspects. The union representing bank employees has ordered them to end a strike and return to work, amid a normalization of banking
Banking industry
The Asian banking sector is facing a significant crisis, with several major banks struggling to cope with the aftermath of a severe financial downturn. In the Philippines, the PNB Capital and Investment Corporation has declared a cash dividend of 130 million pesos, while in Korea, Hanaro Investment Bank is set
