The FINANCIAL — KfWÂ on February 26Â issued its first global bond in Japanese yen this year. The issue volume of the bond is JPY 100 billion (EUR 623 million). It has been very well received by investors. The lead managers are Daiwa, Mitsubishi UFJ and Nikko Citi. Co-lead managers are Mizuho, Nomura and UBS.
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German Stocks Gain, Led by Commerzbank, Hypo Real, Munich Re
By Nicholas Comfort and Henrietta Rumberger
Feb. 25 (Bloomberg) — Germanys benchmark DAX Index rose
the most in a week, led by Commerzbank AG and Hypo Real Estate
Holding AG, on speculation further [...]
NEW YORK (Fortune) — Another winter writedown storm hit Wall Street Monday. Shares in Citi, Fannie Mae and Freddie Mac sank after analysts predicted another round of multibillion-dollar losses at the struggling financial firms. The expected writedowns, which reflect rising loan defaults and sharp declines in indexes tracking debt-related securities, come as falling house [...]
The FINANCIAL — A.M. Best Co. has upgraded the financial strength rating (FSR) to B (Fair) from B- (Fair) and assigned an issuer credit rating (ICR) of bb+ to National Automotive Insurance Company (National Auto) (Metairie, LA). The outlook for FSR is stable, and the outlook assigned to the ICR is stable.
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(Adds CEO comments from conference call, details, share
price)
By Lynne Olver
TORONTO, Feb 20 (Reuters) - CI Financial Income Fund
(CIX_u.TO: Quote, Profile, Research) reported a 25 percent increase in fourth-quarter
profit on Wednesday, driven by growth in fee-earning assets,
and its chief executive said the firm is getting a lift from
strong demand for segregated funds.
While [...]
(Adds details, background)
DUBLIN, Feb 22 (Reuters) - British broker Collins Stewart
(CLST.L: Quote, Profile, Research) has agreed to inject 5 million euros ($7.4 million)
into troubled Irish specialist lender ISTC, taking full
ownership of the company and securing its future.
“Given the extraordinarily difficult market environment,
approval of the scheme will represent the optimum outcome for
ISTC, particularly [...]
The FINANCIAL — With a pre-tax profit in excess of €1 billion, Postbank has surpassed this magic threshold for the first time.
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On February 15, Dr. Klein, Chairman of the Board of Management, told journalists in Frankfurt: “This means success, particularly in this challenging environment. It impressively demonstrates the [...]
The FINANCIAL — For 2007 Rompetrol Rafinare registered a turnover of 3.2 billion USD, 24% more than in 2006, whereas the operational profit (EBITDA) increased by 16%, reaching 141 million USD. The net result registered at the end of last year was 66 million USD less than the one obtained in 2006.
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The FINANCIAL — Zurich Financial Services Group (Zurich) reported on February 14 that excellent operating performances from all business segments resulted in both record business operating profit and net income in 2007.
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These results demonstrate the Group’s ability to deliver on its stated strategy of driving strong operational improvements, targeting growth [...]
The FINANCIAL — A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of a- of South China Insurance Co., Ltd. (South China) (Taiwan). The outlook for both ratings is stable.
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The ratings reflect South Chinas profitable operating results, conservative investment philosophy and [...]
