In a move to restructure its banking industry, the Greek Central Bank is closing down FBBank. Greece, in a bid for housecleaning, has split one of its smaller lending institutions into 'good' and 'bad' parts.
Europe
Fresenius CEO Watching for New Deals
Fresenius CEO Ulf M. Schneider is on the lookout for deals for the expansion of the German group. Fresenius SE, the diversified healthcare group from Germany, has identified possible firms for ripe for takeovers.
Swiss Finance Minister Sets Stage for Bank Secrecy Relaxation
Swiss Finance Minister said that the government would be debating on the issue of bank secrecy on two specific points.
G7 officials meet to discuss continued reforms
Host British finance minister said that the G7 officials meeting is aimed to discuss continued reforms.
EBRD Opting for Direct Approach
The EBRD is thinking of going directly to the small business man to help jumpstart the European economy.
Latest News
Russia's Finance Minister says there is a need for Russian Parliamentary approval for any terms changed on the loan.
Harry Winston is now a Swatch unit to be headed by Nayla Hayek, daughter of Swatch group founder Nicolas Hayek.
JAB files for regulatory approval of the offer sheet for DE Master Blenders. Joh A Benckiser, the German food conglomerate, together with other co-investors are preparing to apply for regulatory approval of their offer sheet to purchase Douwe Egberts Coffee.
Lloyds pay back Eur3.5 billion of LTRO received from ECB. Lloyds Banking Group had announced that by next week, it would be paying the remaining Eur3. 5 billion or US$4.
Greece is again selling a three month treasury bill to pay off a previous issue. Greece will commence the auction of Eur1. 0 billion or US$1. 29 billion treasury bills with a term of three months from issue.
Vitol, in a move to boost profits, purchases the Immingham power plant. The world's biggest oil trader, Vitol, has entered into an agreement to purchase the largest and most modern power plants in Britain.
NLB and NKBM, Slovenian banks are planning capital hikes totalling Eur767 billion. Two of Slovenia's largest banks, namely NLB and NKBM are planning to introduce capital hikes worth a combined total of Eur767 billion or US$1 billion.
DNA seeks an estimated US$1.3 billion as an acceptable bid for its company. According to a report from Reuters, the Finland-based mobile phone operator, DNA, together with its financial consultants UBS opened the sale of the company that may value estimated above EUR1 billion or US$1.
Kazakhstan to issue new Eurobond. Kazakhstan would be returning to global bond markets with a debt issuance expected to reach US$1 billion. The oil-rich Eastern European country has invited banks for management applications of the deal, according to Finance Minister Bolat Zhamishev.
