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Workers head to work at Singapore's central business district on August 23, 2011

Singapore to tighten rules on hiring of foreigners

Monday, September 23, 2013

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Singapore Monday announced tighter rules on the hiring of foreign professional workers, saying companies will from next year have to show proof they first tried to recruit local citizens.

Asian shares slip after Wall St losses

Thu, Jul 25, 2013

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Pedestrians pass before a share prices board in Tokyo on July 19, 2013

Asian markets slipped Thursday following a sell-off on Wall Street fuelled by US housing data that raised concerns about the Federal Reserve’s stimulus programme.

Credit Suisse posts jump in second-quarter profits

Thu, Jul 25, 2013

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Credit Suisse said its second-quarter profit had risen by 32% from a year ago to 1.04 billion francs

Swiss banking giant Credit Suisse on Thursday said its second-quarter profit had risen by 32% from a year ago to 1.04 billion francs (840,000 euros, $1.1 billion), largely thanks to a strong trading performance.

Tourre says he did not aim to dupe investors

Thu, Jul 25, 2013

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Former Goldman Sachs trader Fabrice Tourre leaves for a lunch break from Federal Court July 24, 2013 in New York

Fabrice Tourre testified that he did not aim to mislead investors as the former Goldman Sachs trader took the stand in the government fraud trial against him.

Wells Fargo deposes China’s ICBC as world’s biggest bank

Wed, Jul 24, 2013

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A customer leaves a Wells Fargo bank branch office on July 12, 2012 in Daly City, California

The Industrial & Commercial Bank of China (ICBC) has lost its standing as the world’s largest bank by market capitalisation to US-based Wells Fargo, data showed Wednesday, as China’s economy slows.

G20 puts growth before austerity as recovery splutters

Sun, Jul 21, 2013

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Participants of the G20 Finance Ministers and Central Bank Governors' meeting, pictured in Moscow, on July 20, 2013

Facing a fragile recovery and the threat of a new economic slowdown, the G20 this weekend agreed to prioritise boosting growth and jobs and for now to pay less attention to reducing swollen budget deficits.

Global banks eye Iraq but questions remain

Sun, Jul 21, 2013

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Standard Chartered is seeking to establish a presence in Iraq

Interest by Citibank and Standard Chartered to expand into Iraq highlights the vast potential of the country’s banking sector, but the experience of a global rival points to the many pitfalls they must navigate.

Asian shares broadly lower, Tokyo eyes weekend poll

Fri, Jul 19, 2013

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An electronic prices board in Tokyo on July 19, 2013 shows the closing level of the Nikkei 225 index

Asian shares mostly fell on Friday, with profit-takers moving in at the end of a positive week, while dealers in Japan keep an eye on weekend parliamentary elections.

G20 to step up fight on tax evasion

Fri, Jul 19, 2013

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IMF chief Christine Lagarde speaks with Mexican Central Bank governor Agustin Carstens in Washington on April 19, 2013

Finance ministers and central bankers from G20 countries gather in Moscow for a two-day meeting on Friday seeking to intensify the battle against tax evasion and prevent a new global slowdown.

Dexia rescue cost France 6.6 bn euros: auditor

Thu, Jul 18, 2013

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The headquarters of Franco-Belgian bank Dexia in the Paris business district of La Defense, October 17, 2011

The rescue of Franco-Belgian bank Dexia cost the French state 6.6 billion euros ($8.6 billion), the public auditor said on Thursday, adding that the bill could rise.

France adopts watered-down banking reform

Thu, Jul 18, 2013

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A BNP Paribas bank branch on the Avenue de la Grande Armee in Paris, on July 7, 2010

France on Thursday adopted a banking reform aimed at preventing a repeat of the 2008 financial crisis but that critics said fell short of promises by President Francois Hollande to get tough on bankers.

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