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Moody’s warns India on non-performing loans

The ratings agency warns that deteriorating credit conditions in the banking system have raised concerns about an increase in problem loans and weakening profitability

Kumho picks preferred buyers for Daewoo Engineering

A consortium led by an Abu Dhabi investment fund and a group led by a US builder were selected as preferred bidders for a controlling stake in South Korea’s Daewoo Engineering and Construction that is estimated to be worth about $2.8bn

BBVA set to raise Chinese bank stake

The Spanish banking group is set to invest a further €1.1bn to lift its strategic stake in China Citic Bank and cement its position as one of the leading European investors in mainland Chinese banking

JPMorgan hires Linklaters lawyer to head China unit

The financial services group hires one of Asia’s leading corporate lawyers to head its China business and lead its ambitious plans in the country

China’s Haitong Securities buys Hong Kong rival

Haitong has become the first mainland brokerage to acquire an overseas rival after announcing it would launch a takeover of Hong Kong’s Taifook Securities

BBVA confident of China mission

The previously cautious Spanish bank, better known for its US and Mexico investments, is taking a lead in Asia

Abraaj poised to buy again after raising $375m

The Middle East’s largest private equity house has raised its capital by almost a third as it prepares a return to buying mode

Chi-X leaves upstart label behind

In continental Europe, Chi-X regularly trades enough shares in blue-chips such as ST Microelectronics and Siemens that, while it is technically not an ‘exchange’ like Euronext or Deutsche Börse, it still ranks as third-largest trading platform

Court case raises fears for free banking

The end of free banking could be nigh, as the industry awaits a ruling this week on overdraft charges that could result in pay-outs of hundreds of millions to customers

Judge sets precedent in tackling corruption

Enrico Monfrini, a Geneva lawyer who acts for Abuja, said the demand for seizure of funds outside Switzerland was a legal first for the country, and marks a further step in efforts to tackle theft by corrupt rulers by going after intermediaries as well as principals

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