London - The financially strapped Royal Bank of Scotland is considering a cost-cutting programme that could mean reducing its work force by as many as 20,000 people, reported the Sunday Times.
The bank, which has already been partially nationalized in the fallout from the ongoing financial crisis, is planning the cost- cutting effort before the release of a report at the end of February that is expected to show another loss of 28 billion pounds (40.4 billion dollars).
Wiesbaden, Germany - A further German banking group, the mortgage lender Aareal, asked Sunday to be partly nationalized by the German government as it struggles to cope with the financial crisis.
In a statement from its head office in the city of Wiesbaden, Aareal said it had obtained an equity injection of 525 million euros (682 million dollars) and up to 4 billion euros in cover from federal loan guarantees, as set out in German bail-out legislation.
Amman - The Arab Bank Group, one of the Arab world's largest banking establishments, managed to increase its net profits after tax by 8.4 per cent in 2008, to 840 million dollars, the group's chairman Abdul Hamid Shoman said Saturday.
"The figure represents the best results to be posted by the group since its establishment in 1930 despite the fluctuations in prices and production costs that were triggered by the global financial crisis" in the last quarter of 2008, he added.
Berlin - Hamburg-based HSH Nordbank registered a preliminary loss of 2.8 billion euros (3.6 billion dollars) for the year 2008, bank officials said Friday.
The bank, run by the states of Hamburg and Schleswig-Holstein, wrote down 1.6 billion euros in losses for 2008.
Additionally, it has to shoulder an extra 1.4 billion euros to cover the risks associated with its credit business.
Cairo - Egypt's central bank on Friday announced it would cut interest rates for the first time since 2006, in response to slowed economic growth and inflation.
The Central Bank of Egypt lowered the overnight deposit and lending rates by 100 basis points to 10.5 and 12.5 per cent, respectively, its first cut since April 2006.
London - The financially strapped Royal Bank of Scotland is considering a cost-cutting programme that could mean reducing its work force by as many as 20,000 people, reported the Sunday Times.
Wiesbaden, Germany - A further German banking group, the mortgage lender Aareal, asked Sunday to be partly nationalized by the German government as it struggles to cope with the financial crisis.
Amman - The Arab Bank Group, one of the Arab world's largest banking establishments, managed to increase its net profits after tax by 8.4 per cent in 2008, to 840 million dollars, the group's chairman Abdul Hamid Shoman said Saturday.
Berlin - Hamburg-based HSH Nordbank registered a preliminary loss of 2.8 billion euros (3.6 billion dollars) for the year 2008, bank officials said Friday.
Cairo - Egypt's central bank on Friday announced it would cut interest rates for the first time since 2006, in response to slowed economic growth and inflation.
London - Britain'
