Cynthia Meng, MD of Hong Kong China Technology, Media and Telecommunications Equity Research at Jefferies, says the new bank taps into the microfinancing market which is under-served currently.» Read More
LONDON, June 15- State-backed British lender Royal Bank of Scotland is in talks with private equity firms over a plan for them to inject cash into its Irish arm, the Sunday Times reported, citing sources in London's City financial district.
*Iraq escalation weighs on confidence. *Bank of England chief hints at earlier rate hike than expected. MADRID, June 15- Investors will look to the Federal Reserve for reassurance in the coming week, with little economic data to assuage their concerns over the strength of the global recovery, amid signs Iraq may be sliding into civil war.
OTTAWA, June 13- Jeremy Rudin, an assistant deputy minister at Canada's Department of Finance, has been named head of the country's banking watchdog, Finance Minister Joe Oliver said on Friday. He played an important role in Canada's response to the global financial crisis.
OTTAWA, June 13- Jeremy Rudin, an internal finance department hire, will oversee Canada's banking watchdog, the country's finance minister said on Friday. Minister Joe Oliver appointed Rudin the new head of the Office of the Superintendent of Financial Institutions, replacing Julie Dickson.
*Treasury debt losses limited by Iraq tensions. Treasury debt prices drifted lower on Friday in thin trading, pressured by sharp losses in UK bonds after Bank of England Governor Mark Carney said interest rates could rise sooner than expected, as well as expectations of a rate hike from the Federal Reserve sooner than previously expected.
*Treasury debt losses limited by Iraq tensions. Treasury debt prices slid on Friday, pressured by sharp losses in UK bonds after Bank of England Governor Mark Carney said interest rates could rise sooner than expected, as well as expectations of an imminent rate hike from the Federal Reserve.
LONDON, June 13- British interest rates will start rising from their record low earlier than economists thought just two weeks ago, according to a Reuters poll taken after Bank of England Governor Mark Carney said they could rise sooner than markets expect.
It sounded like a deeply contrarian view on Friday after comments by Bank of England Governor Mark Carney, but a study by analysts from market heavyweights HSBC this week argued that the use of macroprudential steps will make central bank interest rates in general less volatile in future.
HONG KONG, June 13- The index of Chinese companies listed in Hong Kong posted its 5th consecutive weekly gain on Friday, its longest winning streak since early 2012, lifted by bank shares.
LONDON, June 13- Shares in Britain's house builders, including Barratt Developments and Persimmon slipped on Friday after finance minister George Osborne said he would give the Bank of England stronger powers to curb mortgage lending.
HONG KONG, June 13- Shanghai shares closed at their highest level in more than 7 weeks on Friday as Chinese banks were buoyed by stronger-than-expected lending data, adding to hopes that the economy is stabilising. The CSI300 of the leading Shanghai and Shenzhen A-share listings jumped 1.1 percent to close at a one-month high.
HONG KONG, June 13- Shares in China and Hong Kong rose on Friday, led by strong gains in the banking sector after data showed China's new bank lending and money supply rose faster than expected in May, adding to hopes that the economy was stabilising.
HONG KONG, June 13- China's yuan rose to two-month highs against the dollar on Friday, fueling expectations that the central bank may allow the currency to rise for a while after stronger economic data. China's new bank lending and money supply rose faster than expected in May, as the government ramps up policy stimulus measures to energize a slowing economy.
*Iraq tensions underpin traditionally safe-haven yen. TOKYO, June 13- The dollar steadied in Asian trading on Friday but remained near two-week lows against the yen after tensions rose in Iraq and downbeat U.S. economic data gave investors no reason to believe the Federal Reserve will be raising interest rates anytime soon.
*Dollar falls broadly after weak U.S. data; Iraq violence weighs. *Yen gains ahead of Bank of Japan meeting. The dollar fell against the euro for the first time in five trading sessions, although the euro was not far from a four-month low of $1.3503 hit last week after the European Central Bank cut rates to record lows.
It is an interesting time for banks. CNBC's Jeff Cox discusses the developments on the weakness in trading for bank firms like JPMorgan.
The bank's CFO said that JPMorgan could cut compensation for investment banking employees if it continues to post lower revenue.
Egypt's economy is suffering from record unemployment and one of the highest budget deficits in the region. Hisham Ezz Al-Arab, chairman of Commercial International Bank (CIB), lays out the country's challenges.
Hisham Ezz Al-Arab, CIB chairman responds to the recent hype around Islamic finance, and looks back at the first few weeks of Egypt's uprising in 2011.
Today CIB is Egypt's largest private sector bank with over 5,400 employees. In an exclusive interview with CNBC, the bank's chairman, Hisham Ezz Al-Arab, explains how he is keeping the bank profitable.
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