Diversified Financial Services
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FRANKFURT, March 27- Allianz does not foresee significant regulatory hurdles to its announced takeover of Turkish insurer Yapi Kredi Sigorta, Allianz's board member responsible for the region said on Wednesday.
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SE ASIA STOCKS-Rebound on Cyprus deal; Thai stocks lead. -Indonesia's finance minister pressed his demand for the need for reciprocity over foreign bank licences, adding pressure on Singapore to open its banking sector if the year-old bid by DBS Group for a local bank is to go ahead.
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BRUSSELS, March 25- A form of debt that turned toxic to unleash the global financial crisis could help the European Union fund growth as banks rein in lending, the bloc's executive body said on Monday.
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Banking stocks rose after a deal between Cyprus and heads of the European Union, the European Central Bank and the International Monetary Fund will spare the Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank".
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SINGAPORE/ SYDNEY/ HONG KONG, March 24 Fitch Ratings says that Chinese homebuilders with both land bank and funding diversity are in the best position to weather policy and macroeconomic changes.
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The island's 2008 entry to the euro zone was the first in a series of events which have led to a situation in which ATMs in Cyprus may soon run out of cash.
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TEL AVIV, March 20- First International Bank of Israel, the country's fifth-largest bank, reported a 26 percent drop in fourth quarter profit on Wednesday after year-earlier earnings were boosted by a one-time lower tax expense. FIBI posted a fourth-quarter net profit of 132 million shekels compared with 178 million a year earlier.
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LONDON, March 19 Fitch Ratings has placed Assicurazioni Generali SpA's senior and subordinated notes on Rating Watch Negative.
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MILAN/ BARCELONA/ LONDON, March 18 Fitch Ratings has taken rating actions on seven Italian parent banks and one non-bank financial institution to reflect the direct impact of the downgrade of Italy to' BBB+'/ Negative on 8 March 2013. The agency has downgraded Intesa Sanpaolo SpA's and UniCredit S.p.A.' s Long-term IDRs to' BBB+' from' A-' and Viability Ratings to' bbb+' from' a-'.
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LAGOS, March 15- A surge in lending is likely to boost the earnings of Nigeria's banks this year though loans are eating into capital reserves and are too concentrated in the oil sector, credit rating agency Standard and Poor's said on Friday.
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**UniCredit, Italy's biggest bank by assets, could announce the sale of its Kazakhstan unit ATF Bank. **The sale of French Catering company Elior, which could fetch up to four billion euros, has been delayed while it seeks to make an acquisition, banking sources said on Thursday.
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Mathew Driver, Division President for Southeast Asia at Mastercard, says the first step to gaining penetration in Myanmar's debit and credit card market is to ensure better access to bank accounts.
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*Nasdaq held talks with Carlyle, Hellman& Friedman. Feb 15- Long frustrated about the low market valuation of Nasdaq OMX Group Inc, the exchange operator's management is debating various ideas, ranging from further diversification to radical steps like going private or eventually splitting up the company, said several people familiar with the situation.
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TOKYO, Feb 15- Japanese financial services firm Orix Corp will buy Dutch asset manager Robeco from its owner Rabobank for about 240 billion yen in a cash and stock deal, sources familiar with the matter said on Friday.
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WASHINGTON, Jan 18- Top policymakers at the Federal Reserve felt for most of 2007 that problems in housing and banking were isolated and unlikely to tear down the U.S. economy as they ultimately did.
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WASHINGTON, Jan 18- Top policymakers at the U.S. Treasury Secretary Timothy Geithner, then president of the New York Federal Reserve Bank, said during an emergency telephone call on Aug. 10 of that year that most of Wall Street was still doing fine. Similarly, Fed Chairman Ben Bernanke underestimated the risks of a looming financial blow-up.
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General Electric reported fourth-quarter earnings and revenue that beat estimates as the maker of jet engines and wind turbines looks to expand in developing markets.
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Former SEC Chairman Harvey Pitt told CNBC that this exchange deal signals that "equity trading is not the wave of the profitable future."
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How much will the fiscal cliff impact you, and how can you minimize damage to your finances? Here are questions financial advisers are sifting through with clients.
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Paul Smith, Asia Pacific MD of the CFA Institute discusses the new trends emerging in the financial services industry. He thinks it includes whistle-blowing, and a lack of fear among traders to speak out.