Banks (Finance)
National Bank of Fujairah (NBF) has announced the signing of a US $235 million club loan with a consortium of multinational banks. This 2-year facility will be used to support the bank's general business operations, reflecting its strong position in international financial markets. The facility was led by
Banks (Finance)
Beach Business Bank, a community business bank serving Southern California, has been recognized for its outstanding achievements in lending to small businesses. According to the Small Business Administration, the bank ranked 55th in the top 100 most active SBA 7(a) lenders in the United States by lending volume from
Banks (Finance)
George Osborne yesterday endorsed plans to separate retail and investment banking arms of High Street banks, suggesting a "firewall" approach to prevent another financial crisis. The Chancellor's Mansion House speech marked a significant shift in support for the Independent Commission on Banking's proposals, which
Banks (Finance)
Chancellor George Osborne has endorsed proposals to create internal divisions at High Street banks, separating their retail arms from their investment operations to prevent a fresh financial crisis. This move is part of a "new settlement" for financial services aimed at maintaining the City's position as
Banks (Finance)
Dr. Henry Azzam, Chairman of Deutsche Bank in the MENA region, emphasized the importance of improving corporate governance and board composition in corporations across the Gulf Cooperation Council (GCC) to promote a stable economy and regional competitiveness. Speaking at the GCC Board Directors Institute's Alumni Dinner, Azzam highlighted
Banks (Finance)
Deutsche Bank has announced the availability of its Stealth algorithm and Autobahn Equity's classic suite of algorithms in Brazil, providing its clients with access to the Brazilian equities market. The Stealth algorithm, which uses advanced high-frequency alpha models to source liquidity in both bright and dark venues, was
Banks (Finance)
Air India, facing significant financial challenges, is negotiating with public sector banks to restructure its working capital loan of Rs 21,000 crore. The proposed turnaround plan aims to make the airline EBITDA positive by 2012 and cash positive by 2014. Key components of the plan include converting 60% of
Banks (Finance)
UC Rusal has agreed on the main terms with foreign banks for a syndicated credit of up to $5 billion and is in talks with major Russian banks to refinance loans. The company is also preparing a bond program worth 30 billion rubles. Rusal expects to refinance around $11.3
Banks (Finance)
Canadian and international banks, including Goldman Sachs, HSBC Holdings, Royal Bank of Scotland, and Japan's Nomura, were secretly managing billions of dollars in Libyan oil revenues through the country's sovereign wealth fund, the Libyan Investment Authority (LIA). The fund, valued at $53 billion, was invested at
Banks (Finance)
The first annual Veterans on Wall Street (VOWS) conference, launched by five major financial institutions, aims to bring together industry leaders, military personnel, and veterans to raise awareness about the value of veteran employment in the workforce. The conference, scheduled for June 23, 2011, at the Intrepid Sea, Air and
Banks (Finance)
CSS Technergy, a leading provider of business support processes, engineering, and IT services, has been appointed as the Enrolment Agency for the UID Aadhar Project by the State Bank of India across 22 districts in Andhra Pradesh, Bengal, Bihar, and Orissa. This appointment has enabled CSS Technergy to enrol 2.
Banks (Finance)
Public sector banks in India are facing a human resource crunch and are planning to hire approximately 45,000 personnel during the 2011-12 fiscal year to meet their workforce requirements. The Institute of Banking Personnel Selection (IBPS) has been providing assistance to these organizations in selection, promotion, and placement of
