SINGAPORE STOCK MARKET | 2012-07-16
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FTAs not cause of trade boom in Asia, says ADB
SINGAPORE: Free trade agreements cannot be credited for the increase in intra-Asian trade as they are often restrictive in scope and difficult to implement, the Asian Development Bank said Thursday.
Deutsche Bank to axe 1,000 investment banking jobs: report
FRANKFURT: Deutsche Bank, Germany's biggest lender, is to cut 1,000 jobs in its investment banking division, the business daily Handelsblatt reported Thursday, quoting "well-informed financial sources".
Asian shares rise after Wall Street lead
HONG KONG: Asian markets were lifted Thursday by a strong lead from Wall Street after upbeat earnings reports and Ben Bernanke's comments that the US Federal Reserve could step in to help the economy.
Lloyds Bank agrees to EU-forced deal to sell branches
LONDON: Britain's state-rescued Lloyds Banking Group on Thursday said it had agreed to sell 632 branches to Co-operative Group that it was ordered to offload by EU competition regulators.
4 banking giants "under spotlight" in Libor scandal
LONDON: Regulators are investigating Credit Agricole, HSBC, Deutsche Bank and Societe Generale over the Libor manipulation scandal that claimed the boss of British bank Barclays, the Financial Times reported Thursday.
China doubles loans to Africa to US$20 billion
BEIJING: President Hu Jintao said Thursday China would offer $20 billion in new loans to Africa, as he delivered a speech to a Beijing forum on co-operation with the resource-rich continent.
US Mizuho subsidiary to settle US$127.5m, says US agency
NEW YORK: A US subsidiary of Japan's Mizuho Bank and three former employees have agreed to settle a suit brought by the US financial markets authority for fraud upon the payment of $127.5 million, the authority announced Wednesday.
Australia's Fairfax gives Rinehart ally board seat
SYDNEY: A friend of Australian mining mogul Gina Rinehart was handed a seat on the board of ailing media firm Fairfax following a drawn out row between the company and its biggest shareholder.
Qantas switches to iPhone in BlackBerry blow
SYDNEY: Flagship Australian airline Qantas said it was ditching the BlackBerry for Apple's iPhone after strong demand from staff, deepening woes for troubled Canadian maker Research in Motion.