Like many other Gulf Cooperation Council banks, AUB is now seeking investments overseas for diversification purposes.
Legal & Regulatory
Banks expecting ECB rate cut
More than seven banks are changing projecting that the European Central Bank would cut its interest rates after its meeting this November.
Office Depot-OfficeMax deal a go, according to antitrust regulator
The US Federal Trade Commission (FTC) had given its approval for the planned consolidation of office supply retailers and rivals Office Depot Inc and OfficeMax Inc.
Banco do Brasil obtains syndicated loan
A USD1 billion syndicated loan was formalized by Banco do Brasil with five international lending institutions.
Wells Fargo settles mortgage bonds issues with FHFA
For an undisclosed amount, Wells Fargo settles with FHFA on issue of faulty mortgages issyes In an agreement to settle claims with the Federal Housing Finance Agency, Wells Fargo agreed to pay less than USD1 billion to resolve the issue on the bank's alleged knowledge of the faulty nature of mortgage bonds sold to Fannie Mae and Freddie Mac.
Latest News
The Basel Committee on Banking Supervision overhauled its current bank-trading book rules for banks.
The Euros consistent climbed has encouraged currency repatriation in Europe. The Euro gained traction and reached a two-year high against the US dollar this month, according to a report by Bloomberg.
Banking regulator banking asked the European Central bank for details on what qualifies as debt. Bafin, Germany's banking regulator, wants the European Central Bank (ECB) to provide more information about the type of debts lenders would qualify for, according to a report by Bloomberg.
Investment banks Citigroup Inc. and JPMorgan Chase & Co. put their top London currency dealers after regulatory probe.
OGX Petroleo & Gas Participacoes sold the stake it held in its only producing asset shortly before filing for bankruptcy.
Three Federal Home Loan Banks withdrew their objections at the settlement of a New York lawsuit offered by the Bank of America for its Countrywide unit.
A billion dollar merger has been settled between US Airways Group and American Airlines In the hopes of winning regulator approval of the USD11 billion merger, US Airways Group and American Airlines considered to give up landing and take-off slots at the Washington Ronald Reagan National Airport.
Energy Future Holdings planned to make coupon payments worth USD 270 million to creditors as a possible bankruptcy loomed.
An Australian regulator approved the bid of AUD 407 million of Bega Cheese Ltd for the acquisition of Warrnambool Cheese & Butter Factory Co.
