Tag Archives: Bank

Greek Attica Bank extends capital boost deadline to Dec. 18

ATHENS Dec 11 Greece’s central bank has extended by a week to Dec. 18 the deadline for participation in a capital boost by Attica Bank, the bank said.

The modest lender aims to raise up to 750 million euros to plug a capital shortfall. By Friday, the original deadline, it had raised 597.three million euros, Attica mentioned in a statement

“It is for the greatest interest of the bank and its shareholders to extend the closing date for participation in the bank’s share capital enhance to Dec. 18,” the statement added.

Bank of Greece carried out a extensive assessment of Attica, in line with the European Central Bank’s well being check of Greece’s 4 big banks, in October.

The assessment showed the lender had a 1.02 billion euro capital hole below the most adverse scenario and a shortfall of 857 million euros beneath the stress test’s baseline situation.

Attica, which has 79 branches, submitted a capital strategy to the Bank of Greece on how it plans to cover its capital requirements.

Soon after the capital improve is concluded, the bank will resort to Greece’s bank rescue fund HFSF for state help in the case of any remaining capital shortfall.

Greece effectively recapitalised its four greatest lenders this month and only Piraeus and National will have to tap into euro zone aid to assist cover capital needs.

The two banks will want five.7 billion euros ($ 6.1 billion) of euro zone money, a lot reduced than the 25 billion earmarked for the banking sector under an international bailout Greece had clinched with its lenders this summer time. (Reporting by Lefteris Karagiannopoulos Writing by Angeliki Koutantou Editing by Catherine Evans)

Israeli troops kill 3 Palestinians in West Bank, Gaza

HEBRON, West Bank The Israeli army killed a Palestinian who it said tried to ram his auto into soldiers near Hebron on Friday, and medics mentioned another Palestinian was shot dead by Israeli forces for the duration of a violent demonstration in the flashpoint West Bank city.

Violence also flared up on Friday in the Islamist Hamas-controlled Gaza Strip, where Palestinians massed at the fenced-off border with Israel, throwing rocks at troops beyond. Army gunfire killed a 38-year-old Palestinian and wounded 58 other folks, Gaza medics said.

A campaign of stabbings, shootings and auto-rammings by Palestinians has killed 19 Israelis and a U.S. citizen considering that the commence of October. Israeli forces have killed 109 Palestinians, around two-thirds of whom the army identified as assailants.

Palestinians are frustrated at the failure of long-running peace efforts with Israel and its 48-year occupation of the West Bank. Several sympathize with Hamas calls for Israel’s destruction.

The bloodshed has also been fueled by Muslim agitation over stepped-up Israeli access to Jerusalem’s al Aqsa mosque complicated, which many Jews revere as a vestige of their biblical temples.

Close to Hebron, a large West Bank city exactly where both anti-Israel activism and friction with Jewish settlers are strong, a Palestinian motorist tried to ram troops at a checkpoint who then shot him dead, the army said.

“We saw the martyr’s auto parked and he stepped out of it and they fired about 15 bullets at him,” Osama Ahmed Tarawa, a Palestinian who said he was working at a building site nearby at the time of the incident, told Reuters.

Citing an initial investigation, an army spokeswoman mentioned that soon after crashing into the checkpoint, the motorist emerged from the auto carrying a knife, apparently intent on stabbing the soldiers. A relative of the dead man gave his age as 55.

In the second incident in Hebron, the army mentioned troops fired at Palestinians who attacked them with rocks and petrol bombs following non-lethal riot-dispersal measures failed. Palestinians mentioned a 22-year-old regional man was fatally shot in the chest.

Earlier on Friday, Israeli officials stated a Palestinian gunman fired at a checkpoint on the northern West Bank boundary, causing no casualties, and was then shot by guards and fled.

The United States, the European Union and the United Nations have expressed concern about the increasing death toll, urging both sides to apply restraint, while also recognizing Israel’s correct to self-defense in the face of the street attacks.

(Reporting by Ali Sawafta, Nidal al-Mughrabi and Luke Baker Writing by Dan Williams Editing by Mark Trevelyan, Larry King)

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UPDATE five-South African rand hits record low, bank stocks dive after minister’s sacking

JOHANNESBURG South Africa’s rand weakened to a record low on Friday, slumping far more than 3 % in the wake of this week’s sacking of the finance minister, whilst banks led stocks reduce.

President Jacob Zuma sacked Nhlanhla Nene late on Wednesday in favor of a reasonably unknown lawmaker, David van Rooyen, unnerving investors in an ailing economy whose investment grade status is already at threat.

The sacking of Nene, a veteran civil servant in the ministry who was keen to rein in government spending in Africa’s most industrialized economy, has also sparked a sell-off in bank stocks, which have dropped practically 20 % because Thursday.

“Government will not abandon the fiscal path that we have selected in the last couple of years,” Zuma mentioned in a statement. “Keeping a prudent fiscal position remains 1 of government’s top priorities.”

Zuma said Nene was removed from his role as finance minister beneath brief notice so that he could be nominated as the head of the African Regional Centre of the New Improvement Bank/BRICS Bank, to be based in Johannesburg.

“It’s a lame purpose. They are fishing for an excuse. They are attempting to locate a position that is senior adequate for Nene to give a valid cause for why he was sacked,” Dawie Roodt, the chief economist at monetary services firm Effective Group mentioned. “I’ve got extremely small doubt that markets will be skeptical also.”

In a separate statement, Zuma denied nearby media reports that a wider cabinet reshuffle was in the offing, in what analysts saw as an attempt to calm jittery markets.

Several economists have questioned van Rooyen’s ability to steady an economy hammered by falling costs for commodity exports that variety from coal to gold.

“Markets never like uncertainty,” Cratos Capital equity analyst Greg Davies. “You have taken a minister that had a lot of credibility with the market place … and put somebody in his spot that does not appear to have any sort of encounter like the prior minister.”

By 1700 GMT the rand had recovered slightly, trading 1.98 % reduce to the dollar at 15.78150 ZAR=D3, from the psychologically vital 16.00 level it hit earlier in the day.

The central bank told Reuters it would hold its monetary policy committee meeting in January as scheduled. It raised the benchmark lending price for the second time in 2015 last month to six.25 percent.

Analysts had speculated that the bank might get in touch with an earlier meeting to boost interest prices to defend the rand.

Yields on local and dollar-denominated debt soared as the likelihood of a downgrade to junk spooked investors. Demand levels in local bond auctions have been weak on the day, reflecting the subdued interest in local debt.

On the bourse, the banking index .JBANK dropped more than 10 percent in early bargains prior to recouping some of the losses to close five.eight % decrease as worries grew that pressure on South Africa’s sovereign credit ratings would hit profits and drive up bad debts among the nation’s banks.

Barclays Africa (BGAJ.J) plummeted as considerably as 12 %, ending 3 % reduce at 127,84 rand, whilst FirstRand (FSRJ.J) lost eight.three percent to 35.57 rand and Normal Bank (SBKJ.J) fell four.2 % to 101.39 rand.

The blue-chip JSE Leading-40 index .JTOPI dropped 1.24 % to 43,701 points, whilst the broader All-share index was off 1.56 percent at 48,219 points.

DOWNGRADE

“This nation would be far much better off without this man as our president, and I say that with a excellent deal of sadness,” former wellness minister and anti-apartheid activist Barbara Hogan told Talk Radio 702, referring to Zuma.

Credit ratings agency Fitch, which downgraded South Africa last Friday to just one particular notch above “junk” status, said Nene’s firing “raised far more unfavorable than constructive queries”.

Downgrades jack up South Africa’s borrowing fees and flow via to the banking method.

The yield on the benchmark government bond due in 2026 ZAR186= has added practically 200 basis points, or 2 %, in the last two days to levels last seen during the 2009 recession.

Overseas investors also shunned local dollar-denominated debt, with the typical yield premium to hold South African debt compared to U.S. Treasuries surging to six-1/two year highs.

(Writing by James Macharia and Tiisetso Motsoeneng Editing by Ruth Pitchford)

Palestinian shot dead after wounding two Israelis in West Bank stabbing: army

JERUSALEM A Palestinian was shot dead by security forces after wounding an Israeli soldier and a civilian when he stabbed them in the occupied West Bank town of Hebron on Wednesday, the Israeli army said.

A statement from the military said the Palestinian attacked the victims during a “routine security check” in Hebron, a hotspot in the spate of attacks in the West Bank, Israel and Jerusalem in the past two months.

The violence has partly been driven by Palestinian anger over an increasing number of Jews visiting East Jerusalem’s al-Aqsa mosque compound — Islam’s third holiest site, which is also revered by Jews.

They fear that Israel plans to end the status quo at the site, which is governed by an agreement under which non-Muslims may visit the sacred compound, but only Muslims can pray. Israel has repeatedly denied any such intentions.

Palestinians are also frustrated over a peacemaking process, deadlocked since early 2014, while Israel persists in adding to settlements in the dozens of enclaves it has built on land it seized in the 1967 Middle East war.

Since Oct. 1, Israeli forces have killed 106 Palestinians, 66 of whom Israel says were assailants or had been caught on camera carrying out assaults.

Most of the others were killed in clashes with police or troops. One U.S. citizen and 19 Israelis have been killed in Palestinian attacks.

The two injured Israelis were taken to a Jerusalem hospital for treatment and a spokeswoman said one was lightly hurt and the other was in moderate condition.

(Writing by Ori Lewis; Editing by Raissa Kasolowsky)

Agen Sabung Ayam

Turkish bank operations in Russia to be excluded from Moscow sanctions -sources

ISTANBUL Dec 7 Turkish banks will be excluded from Russian sanctions, market sources told Reuters on Monday, escaping a crackdown by Moscow that could cost Turkey up to $ 9 billion in retaliation for the shooting down of a Russian jet final month.

The Turkish Banking Association has told banks that their Russian operations will not face sanctions from Moscow, citing information provided by Denizbank, the Turkish unit of Russia’s Sberbank, two banking sources mentioned.

Denizbank declined to comment.

An official for the Turkish Banking Association confirmed it had received such details from Denizbank and forwarded it to other Turkish banks, but declined to give additional information. (Reporting by Ebru Tuncay Writing by Ece Toksabay Editing by David Dolan and David Holmes)

Palestinian stabs Israeli in West Bank, shot dead Israeli police

JERUSALEM A Palestinian man stabbed and critically wounded an Israeli in the West Bank city of Hebron on Monday and was then shot dead by safety forces, Israeli police stated.

Such incidents have become a daily occurrence in Israel, Jerusalem and the occupied West Bank considering that the eruption two months ago of a wave of Palestinian street violence fueled in portion by strife more than a contested holy website.

In the Hebron attack, paramilitary border police fatally shot the assailant after he stabbed an Israeli man a number of times in the upper physique, a police spokeswoman said.

The wounded man was taken to hospital in Jerusalem in crucial condition, health-related officials stated.

On Sunday, two Israelis had been injured in a car ramming and stabbing attack in Jerusalem by a Palestinian assailant, who was shot dead by a soldier, police mentioned.

Because Oct. 1, 19 Israelis and a U.S. citizen have been killed in Palestinian attacks. Israeli forces have killed 104 Palestinians, of whom 65 had been identified by Israel as assailants or caught on camera carrying out assaults. Most of the other people died in clashes with police or troops.

Tensions have also been stoked by Palestinian frustration over a peacemaking approach deadlocked since early 2014.

(Writing by Ori Lewis Editing by Jeffrey Heller and Tom Heneghan)

Agen Sabung Ayam

Qatar Very first Bank to list shares in 2016, launches private banking

DOHA Dec 6 Qatar First Bank (QFB) plans to list its shares on the Qatar exchange as early as the 1st quarter of 2016, the chairman of the sharia-compliant monetary institution mentioned on Sunday.

“We hope by the end of the 1st quarter of subsequent year that we will be ready to list. Things are on the right track,” Abdulla al-Marri told journalists at a press conference in Doha.

The firm has extended been linked with a flotation, in what would be only the second new listing in Qatar since 2010, though QFB would only place its shares onto the bourse to trade and would raise no new income from the event.

Traditionally focused on wealth and asset management and private equity, targeting investments in power, genuine estate and financial solutions across the Middle East and Africa, QFB was also launching a private banking service, it stated on Sunday.

The move was not related to issues in its private equity operate or financial downturn in the Gulf Arab state, according to the bank’s chief executive.

“We are supplying private banking as a service as of right now. We are not shifting away from private equity, we are constructing on it,” stated Ziad Makkawi, the veteran banker who was appointed to the function in July.

Makkawi described the banking environment in the Gulf as “challenging” and said that investors had been behaving cautiously at a time of low oil rates and a liquidity crunch.

“The investment climate is not going to be as hot or as bullish as when oil prices had been at one hundred dollars a barrel. Men and women are searching for a bit far more certainty and are staying away from speculative sorts of investments,” he stated. (Reporting by Tom Finn Editing by Mark Potter)

Bank of England approves capital models for 19 UK insurers

LONDON Dec five Britain’s best two insurers Aviva and Prudential along with the Lloyd’s of London insurance coverage market place have been amongst the 19 firms whose capital calculation models the Bank of England authorized on Saturday.

Approval implies the named insurers can use in-house internal models to determine how significantly capital they have to hold to safeguard policyholder commitments below new European Union Solvency II capital guidelines that come into force subsequent month.

Without having endorsement, firms must use a standard calculation strategy of their solvency set out by regulators, which usually leads to larger capital specifications.

“Going forward we will monitor insurers’ models very carefully in order to guarantee they continue to provide an proper level of capital,” Andrew Bailey, chief executive of the Bank of England’s Prudential Regulation Authority, mentioned in a statement.

(Reporting by Carolyn Cohn and Huw Jones Editing by Keith Weir)

Azerbaijan arrests former head of the largest bank

BAKU Police have arrested a former head of Azerbaijan’s greatest bank on suspicion of fraud and misappropriation of public funds, the interior ministry stated on Saturday.

Jakhangir Gajiyev resigned earlier this year as the head of the International Bank of Azerbaijan (IBA), the only state-owned bank, accounting for 35 % of banking assets in the oil-generating former Soviet republic,.

A court in Baku ordered Gajiyev to be detained for three months, pending trial.

Although the finance ministry holds a 51 % share in the bank, Azeri President Ilham Aliyev has ordered IBA’s privatization in line with guidance from the International Monetary Fund.

(Reporting by Nailia Bagirova Writing by Margarita Antidze Editing by Richard Balmforth)

National Bank of Greece gets two.71 bln euro state aid by the European Commission

ATHENS The European Commission approved on Friday state aid of two.71 billion euros for National Bank of Greece (NBGr.AT), primarily based on a modified restructuring strategy.

The commission concluded that measures the National Bank of Greece has already implemented will enable it to safe a grant of credit to the Greek economy, according to the European Union’s rules on state help.

“With the completion of the recapitalization of the 4 systemic banks of Greece and the quite important participation of the private sector, one particular a lot more element of uncertainty was eliminated,” said European Commissioner Pierre Moscovici.

“This improvement is a good step to make sure the sustainable restoration of self-assurance in Greece.”

A European Central Bank well being verify in October found National Bank of Greece, the country’s biggest lender by assets, would have a capital shortfall of 4.six billion euros ($ 4.86 billion) beneath the most adverse scenario.

(Reporting by Lefteris Karagiannopoulos Editing by Catherine Evans)