| South Africa: Standard to Raise Transaction Charges
Standard Bank would increase its transactional bank charges an average 4,65% from January, its CEO for personal and business banking for SA, Sim Tshabalala, said yesterday. Tshabalala said charges on transaction products would rise 4,33% while those for savings and investment products would be increased 1,9%. Charges on the bank's Mzansi and E-Plan products would rise 2,3% and 4,4%, respectively. .
(AFX UK Focus) 2007-11-21 09:30 GMT: TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT
2007-11-21 09:12:28 Japan's Mitsubishi UFJ H1 net profit falls 49 pct TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan's largest banking group, said Wednesday its first-half net profit fell 49 percent, reflecting writedowns for its struggling credit card business and losses related to its subprime loan exposure. 2007-11-21 08:54:22 EU mortgage reform white paper to propose making early repayment easier - report FRANKFURT (Thomson Financial) - The European Commission's long-awaited white paper on the mortgage industry will make it easier for customers to pay off their mortgages early, a report in German daily Boersen-Zeitung says. 2007-11-21 08:49:35 Swiss Re CEO sees no 'fundamental changes' at Financial Services ops ZURICH (Thomson Financial) - Swiss Re chief executive Jacques Aigrain said he sees no "fundamental reason" for a change in the reinsurer's strategy regarding its Financial Services segment but pledged to more closely monitor risks.
(AFX UK Focus) 2007-11-05 07:44 GMT: Lisbon shares TFN at a glance outlook
LISBON (Thomson Financial) - Shares are expected to open lower with banking stocks underperforming after steep falls in Asian markets today as fears over the health of the financial industry resurface. Friday, the PSI 20 index closed down 94.12 points at 12,816.86 after trading in a range of 12,774-12,878 on a volume of about 235 mln eur. FORTHCOMING EVENTS TOMORROW Vivo 9-mths results (before market opens) WEEKEND/OVERNIGHT CORPORATE NEWS BROKERWATCH EDP upgraded to '2 equal weight' at Lehman, target 4.25 eur - traders OUTLOOK Portugal Telecom Q3 net seen boosted by continued top-line and margin growth at Vivo TODAY'S PRESS Espirito Santo group to open bank in Dubai (Diario Economico) Banco Espirito Santo Investimento wants to be present in Hong Kong, US (Diario Economico) BCP board to decide today on talks with BPI regarding merger proposal (Jornal de Negocios) Environment ministry says Somague's AGS will not participate in Aquapor privatisation (Jornal de Negocios) MARKET SENTIMENT EDP has been upgraded to '2 equal weight' at Lehman Brothers, according to traders.
Online service boost for RHB Bank
RHB Bank Bhd is confident that a RM12mil fee income will be added to its corporate revenue this year from its corporate online banking facility, RHB Reflex Cash Management. Chairman Datuk Azlan Zainol said he expected the customer base of the product, commonly known as Reflex, to increase from 3,000 corporate, multinational, commercial and SME customers to 5,000. To date, RHB has 300,000 corporate and commercial customers. "Reflex caters to most of the banking needs of our business customers. That has made it very attractive to large and small companies that already have accounts with us," Azlan said after the launch of the product yesterday. .
(AFX UK Focus) 2007-08-13 13:12 GMT: India's ICICI Bank in MoU with MITCON on services for carbon credit businesses
MUMBAI (Thomson Financial) - India's largest private sector bank ICICI Bank Ltd said it has signed a memorandum of understanding with MITCON Consultancy Services Ltd to service firms engaged in "clean development mechanism (CDM) projects and emissions trade including carbon credit business." Financial details of the deal were not disclosed. Under the terms of the proposed deal, both companies will work together to generate business leads. MITCON will provide services related to project identification, registration with the CDM executive board and recurring verifications while ICICI Bank will provide services related to commercialisation of certified emission reduction certificates (CERs), coordination services and banking-related services. "With global warming becoming a concern worldwide and the industry sensing the need to move onto CDM and green projects, this MoU will be our platform to facilitate SMEs (small and medium enterprises)to make this movement towards such projects," Sanjeev Mantri, general manager of ICICI Bank.
Taxing time for SMEs
NEARLY a third of small business owners in Scotland do not know what they will be paying in corporation tax this year, according to a new report. Bank of Scotland's business banking sector found that much of the confusion stems from recent changes to the tax regime. This article: http://business.scotsman.com/index.cfm?id=1283242007 Last updated: 14-Aug-07 12:19 BST .
Banking and the single business
A few weeks ago, a few of us sat down with a number of the business lenders in our region. We talked about their niches in business lending and business services and our services at the Small Business Development Center. We often refer our clients to a lender for financing and they are kind enough to refer their customers to us for free coaching on business plans and the like. This got me to thinking about how one works with banks and credit unions. I thought I'd share a few of these thoughts. If you don't have a business bank, or you aren't satisfied with your bank, it makes sense to shop around. Financial institutions have some things in common but they also have different features, strengths and niches. Among those niches (and this is in no way a complete list), US Bank provides a variety of useful lease products.
Business day: Help for housing market
Houses in Seattle's Magnolia neighborhood are seen from the air. Facing a major test, the Federal Reserve on Friday pumped billions of dollars into the U.S. financial system after a global credit crunch sent Wall Street into a dive and shriveled the nest eggs of investors large and small.The Federal Reserve has a range of tools to keep financial institutions’ problems from morphing into a broader economic crisis. It can also use the power of words to try to calm investors. So far, the Fed has chosen a little of both. It ordered extra cash to be plowed into the system, hoping to help banks and other institutions get over the hump and carry out their business more smoothly. The Fed also sought to send a reassuring message to Wall Street and Main Street that it is on top of an unsettling situation, pledging to provide "reserves as necessary" to help the markets safely make their way.
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