Banking Crisis

Latest News for Banking Crisis

• September 5, 2010 - BTA Bank Cuts Debt With Restructure
  

  Kazakhstan's BTA Bank has completed its restructuring efforts after defaulting last year on billions of dollars worth of foreign debt. BTA Bank had borrowed from overseas financial institutions at low interest rates a few years ago then lent these in Kazakhstan for higher rates, as was the practice among banks in the country.

• May 4, 2010 - Fortress Seeks To Rebuild Hedge Fund Business In Singapore
  

  Fortress Investment, the hedge fund investment firm, is looking to rebuild operations in Asia through the establishment of a new Singapore office, according to a report by Reuters. Unnamed sources told the news service that the Singapore office will start small and slowly build up, focusing on investments.

• April 26, 2010 - Switzerland Rejects IMF Call For Global Bank Tax
  

  Swiss finance minister Hans-Rudolf Merz has rejected the idea of an international tax on banks, disagreeing with a proposal by the International Monetary Fund to impose a levy on banks, media reports said. Merz was speaking at meetings of the World Bank and IMF in Washington at the weekend.

• April 22, 2010 - "Trust Trap" Threatens Credibility Of Australian Firms - Study
  

  Australia's top financial services brands may soon find that their popularity does not necessarily equate to clients' trust when markets begin to heal, research by Sydney financial marketing specialist endgame communications reveals. The so-called "trust trap," the study found, could lead some companies floundering due to a lack of focus on the key drivers of trust, such as communication and honesty, both of which have become increasingly significant since the global financial crisis.

• April 15, 2010 - Asian Investor Sues Standard Chartered
  

  John Li Kwok-heem, a Hong Kong-based investor, is suing Standard Chartered International (USA)compensation over investment losses caused by exposure to the Ponzi scheme perpetrated by the notorious fraudster Bernard Madoff, The Standard reports. According to the publication, John Li Kwok-heem, a cousin of chief justice Andrew Li Kwok-nang, is seeking HK$7.

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