China's ICBC to buy stake in African firm

Article Abstract:

Industrial and Commercial Bank of China has bought a 20% stake in South Africa's Standard Bank Group Ltd. Standard Bank is South Africa's largest lenders, and the transaction marks one of China's largest foreign-firm purchases. Although ICBC did not provide financial details, the deal is valued at $5.46 bil.

Company investment, Investments, South Africa, Standard Bank Group Ltd.

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RBS write-down calms fears

Article Abstract:

Royal Bank of Scotland PLC has announced a smaller-than-expected write-down due to subprime lending exposure, but expects to exceed analysts' predictions for full-year profit. The write-down totals 1.25 bil pounds sterling; RBS shares increased by 2.7% to reach 4.79 pounds sterling with the news.

Forecasts, trends, outlooks, United Kingdom, Economic aspects, International aspects, Influence, Royal Bank of Scotland PLC, Company business forecast/projection, Company forecasts, Financial report, Subprime loans

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ICBC poised for massive offering

Article Abstract:

Industrial & Commercial Bank of China is planning an initial public offering on the Hong Kong Stock Exchange valued at approximately $19 billion. Industrial & Commercial Bank of China is the largest bank in China by assets.

Going public (Securities), Initial public offerings, Company public offering, Company overview

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