A proposed merger in Malaysia will create the first Islamic bank that will have enough clout to challenge conventional, often Western, banks.» Read More
Shares of sub-prime mortgage lenders fall as HSBC warns that bad debts from lower-quality loans will hurt its results.
China's banking regulator has received eight applications from foreign banks for local registration, which it would begin processing Monday, a first step in granting national treatment.
Oracle boosted its offer for India's i-flex solutions by 42%, with the aim to buy an additional 35% of the banking software provider for $1.3 billion.
Stocks closed higher following mostly positive news about the U.S. economy and gains from several major blue-chip companies.