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Finance Banks

  • UKRAINE CENTRAL BANK CHIEF SAYS RAIL BLOCKADE COULD HIT EXPORT REVENUE, BANK PREPARED TO TAKE "ANTI-CRISIS MEASURES".

  • NEW YORK, Feb 22- The euro hit a six-week low against the dollar on Wednesday on concern over France's presidential election campaign, a growing gap between U.S. and euro zone interest rates and the increasing risk of a rate increase from the Federal Reserve in March. The euro fell below $1.05 for the first time in six weeks to $1.0494 in early trading.

  • *Listing of Aramco could raise up to $100 billion. Industrial and Commercial Bank of China International Holdings, a wholly-owned Hong Kong- based subsidiary of Industrial and Commercial Bank of China, and China International Capital Corporation are among the Chinese banks pitching for the deal, two other sources familiar with the matter said.

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • *The Fed will release the minutes of its Jan. 31- Feb. 1 meeting at 2:00 p.m. ET, which could offer clues on whether the central bank will raise rates in March. *Policymakers, including Fed Chair Janet Yellen, have been stoking the possibility of a rate hike sooner than later. *Also on investors' minds is how the Fed views uncertainty regarding economic policy under...

  • LONDON— Lloyds Banking Group says its underlying profits rose slightly in the fourth quarter as it began to move beyond past scandals and a government rescue during the financial crisis. The bank says underlying profit, which excludes one-time items like restructuring costs, increased to 1.79 billion pounds from 1.76 billion pounds a year earlier.

  • *India chief econ adviser backs calls for "bad bank". NEW DELHI, Feb 22- India's finance ministry on Wednesday backed a call by the Reserve Bank of India to set up an institution similar to a "bad bank," saying urgency was needed to address troubled loans weighing on the banking sector that were hobbling investment and growth. His comments backed forthright views...

  • A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali ('empty quarter') desert in Shaybah, Saudi Arabia.

    Saudi Aramco has asked JPMorgan Chase and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors.

  • TD Direct Investing CIO Michelle McGrade says she’s quite surprised the share price of Lloyds has risen as much as it has on Wednesday when commenting on the bank’s recent earnings.

  • *Global stocks hit record highs, Europe makes slight gain. LONDON, Feb 22- Global stocks hit record highs on Wednesday, pushing gains for the year above those for all of 2016, while the dollar rose before Federal Reserve minutes that will be scoured for clues on the timing of the next U.S. interest rate rise. Relatively strong earnings seasons in Europe and the United...

  • As the most exposed among the major British banks to any downturn in the British economy, with 97 percent of its business in the UK, Lloyds has confounded expectations that last year's vote to quit the European Union would squeeze profits. Shares in Britain's biggest mortgage lender rose 3.8 percent by 0902 GMT, the best performing stock in the benchmark FTSE 100...

  • JAKARTA, Feb 22- Indonesia's biggest banks must write up plans for recovering from potential insolvency, a measure to ensure that authorities do not have to bail them out, the chairman of the banking regulator said on Wednesday. Indonesia's parliament last year passed a law that lays out rigid, step-by-step protocols on how authorities should handle a...

  • Why Lloyd's is a buy

    David Benamou, managing partner at Axiom Alternative Investments, says that Lloyds is one of the European banks successfully rebuilding its business.

  • Not focussed on UK housebuilder, prepare banking industry

    Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, explains his view that there is "big opportunity still in U.S. financials."

  • BANGLADESH, WITH RIGHT OF FIRST REFUSAL, TALKING TO INTERNATIONAL BANKS TO RAISE FINANCING- BANKING SOURCE.

  • SHANGHAI, Feb 22- China's main share indexes rose for a third day on Wednesday to approach three-month highs, though gains were capped as speculators sold some recently-listed financial sector stocks. Shares in Jiangsu Wujiang Rural Commercial Bank tumbled 9.1 percent, the biggest one-day since it was listed in late November. Real estate stocks barely moved...

  • MILAN, Feb 22- Italian banks are stuck in what stressed-debt experts call purgatory, still forced to pay a heavy price for their past sins despite loan data that suggests they are turning a corner. Italy has 130 billion euros in unlikely-to-pay loans, where borrowers are in trouble but remain in business. "Unlikely-to-pay loans are like purgatory: to avoid...

  • SHANGHAI, Feb 22- China's financial regulators have circulated a draft framework of new rules aimed at curbing risks in the country's booming asset management industry, according to several Chinese news outlets and details of the draft seen by Reuters. The rules, formulated by the central bank in conjunction with China's securities, banking and insurance...

  • NEW YORK- Federal Reserve Board Governor Jerome Powell speaks on "The Economic Outlook and Monetary Policy" before a Forecasters Club of New York luncheon- 1800 GMT. DALLAS, United States- Federal Reserve Bank of Dallas President Robert Kaplan discusses issues facing the nation and the global economy- 2330 GMT. LONDON- Bank of England Deputy Governor for...

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