Finance
Thanachart Bank to buy Siam City Bank stake
Thanachart Bank will purchase a 47.58% stake in Siam City Bank PCL from the Bank of Thailand's rescue arm in a deal valued at 68 billion baht ($2.08 billion).
Foreign companies are less enthusiastic to invest in Thailand and look set to reduce investments from last year, suggesting the political crisis may be taking a toll.
Warren Buffett, America's most famous, chairman of Berkshire Hathaway Inc., launched an attack Saturday on bank giants' executives, calling for penalties for those who led their companies to near-collapse.
Dominique Strauss-Kahn, the head of the International Monetary Fund, said Friday the organization might explore the options of providing countries with a global reserve currency as an alternative to the U.S. dollar.
The US central bank has launched an inquiry into derivatives contracts arranged between Goldman Sachs Group Inc. and investment banks with Greece, Ben Bernanke, chairman of the Federal Reserve, said on Thursday. .
Thai Banks’ Profit May Rise on Exports, JPMorgan Says
Thai bank earnings may climb this year as a rebound in overseas orders increases demand among exporters for loans, JPMorgan Chase & Co. said.
Islamic Bank of Thailand Promoted in Pattaya
Most people in Pattaya would not realize that there is a branch of the Islamic Bank of Thailand in South Pattaya Road, who offer some interesting financial options. They will actually purchase your intended home, and then requiring basic payments ...
Thai insurance industry to grow by 15%
Thailand's insurance industry is set for solid growth of 15% this year thanks to the improving global and domestic economies and the expanding micro-insurance sector, according to the Office of the Insurance Commission.
CIMB Thai aims to drive return on equity to 10%
CIMB Thai Bank aims to be among Thailand's top three banks in terms of return on equity by 2013, says chief executive Subhak Siwaraksa.
Thai Thanachart Bank Makes Top Bid of $984 Million for Siam City Bank Stake
Thanachart Bank PCL has submitted the highest bid for the 47.6% stake in Siam City Bank PCL (SCIB.TH) held by the Bank of Thailand's rescue arm, a person familiar with the deal said Friday.
Thai bank preferred bidder for Siam City Banks stake - source
Thanachart Bank, 49-percent owned by Canada's Nova Scotia Bank (BNS.TO), is the preferred bidder for a 47.6 percent stake worth $950 million in Thailand's seventh-ranked lender, beating HSBC Holdings (HSBA.L), sources close to the deal said on Thu...
CIA workers trained Wall Street firms to detect lies
It is hard to imagine two more distrusted and reviled professions. One has been accused of torturing detainees and failing to track down Islamist terror suspects; the other is widely perceived to be responsible for the worldwide recession.
Thai Government Pension Fund allows civil servants to select investment priorities
The Government Pension Fund will allow civil servants to select their own investment priorities, says the fund's new secretary-general, Sopawadee Lertmanaschai.
Thailand lenders gradually easing up
Banks remain cautious that uncertainty about the economic recovery will increase the regulatory costs of their lending, according to the Bank of Thailand.
HSBC, Bank of Nova Scotia Said to Be in Race for Siam City Bank
Bank of Nova Scotia and HSBC Holdings Plc are among remaining candidates to buy a 47.6 percent stake in Thailand’s Siam City Bank Pcl after three bidders dropped out, people with knowledge of the matter said.
TMB Bank aiming for 14% return on equity by 2014
TMB Bank, 26 percent owned by ING Bank, aims to increase its return on equity to at least 14 percent by 2014, up from 4 percent now.
New US bank plan offers lending incentive -Treasury Secretary
The Obama administration's new plan to revive small business lending would reduce the cost of government capital for small banks as they make more loans, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
Federation of Thai Industries chief supports Bank of Thailand decision to ease currency exchange controls
Federation of Thai Industries (FTI) chairman Santi Vilassakdanont on Tuesday voiced his support for the Bank of Thailand (BoT) relaxation of regulations on currency exchange controls, saying it would help weaken the baht.
Korea Development Bank drops out of bidding for Thai bank Siam City
The Korea Development Bank (KDB) has pulled out of the competition to buy an estimated $900 million stake in Thailand's Siam City Bank SCIB.BK.
Bank of Thailand lifts overseas investment ceiling to US$50 bn
The Bank of Thailand has lifted the outstanding value of combined overseas investment from US$30 billion to $50 billion, as part of its move to counter greater currency volatility.