Asia Africa Intelligence Wire articles from June 2002

Asia Africa Intelligence Wire archives from June 2002

Eastern Cape Unemployed Union Under Threat From Lack of Government Funding.
June 30, 2002... (From East Cape News (South Africa) - AAGM) Byline: Thozi Ka Manyisana The Eastern Cape Unemployed Organisation (ECUO) said Monday that it was facing a crisis because of a lack of government funding. ECUO president Jabu Ntusi...

IDOLS CONTESTANTS PERFORM FOR ENTHUSIASTIC JHB FANS.
June 30, 2002... They shrieked, they screamed and their idols didn't fare too badly either. A packed Northgate Dome on Saturday night came face to face with the Idols TV series contestants, who belted out their favourite pop songs. From Ezra Lingeveldt, who...

Thaksin backs propaganda war against Rangoon.
June 30, 2002... Prime Minister Thaksin Shinawatra came out yesterday to support the military for the first time in its five-week-long row with Burma, saying the Defence Ministry was right to retaliate to a series of insults aimed at the Thai monarchy in the...

Paradorn beats Agassi in historic Wimbledon victory for Thailand.
June 30, 2002... Thailand top tennis player Paradorn Srichaphan beat Wimbledon's third seed Andre Agassi in a historic tennis victory of the kingdom Wednesday. The 23-year-old Thai, ranked a modest 67 in the world, sweep aside the great American in three...

Burma destroys Thai MSG.
June 30, 2002... Continuing its anti-Thai campaign, Burma has confiscated and destroyed three tonnes of monosodium glutamate (MSG) from Thailand over the past month, state-run newspapers reported yesterday. Burmese authorities have put a ban on the import...

Toddlers' food and mouth disease on the rise.
June 30, 2002... Public health officials voiced concern yesterday over the rising cases of hand, foot and mouth disease (HFMD) in this northeastern province after finding 122 toddlers with the potentially fatal viral infection in the last six months. ...

AMLO likely to face probe over asset check.
June 30, 2002... The National Counter Corruption Commission (NCCC) will decide next Tuesday or Thursday whether to launch an inquiry into the Anti-Money Laundering Office (AMLO) probe targeting government critics, a senior official said yesterday. NCCC...

Engineers sued over billboard collapse.
June 30, 2002... Police filed a criminal suit yesterday against three structural engineers in connection with Wednesday's collapse of a giant billboard in Bangkok that left a seven-year-old girl brain dead and damaged 16 houses. The engineers were...

Senatorial by-election to fill vacancy.
June 30, 2002... A former Democrat Party MP and a well-known former activist will be among the contenders for the vacant senator's seat in Nakhon Si Thammarat. Thawil Praisont, a former Democrat MP for Bangkok, and Surachai Dan, a former activist who is...

No conflict of interest over FIDF.
June 30, 2002... Development Fund (FIDF) - which will cost the Bank of Thailand (BOT) Bt1.4 trillion, will not create a conflict of interest over the central bank's key task of managing monetary policy via inflation targeting, the bank said yesterday. ...

BOT: Banks can temporarily hold savings bonds.
June 30, 2002... The Bank of Thailand (BOT) will allow commercial banks to hold savings bonds to be issued next month on temporary basis after the first year of the bond's issuance. According to BOT's deputy governor, Tarisa Watanagase, BOT has limit the...

HSBC - new SET brokerage member.
June 30, 2002... HSBC Securities (Thailand) will become the Stock Exchange of Thailand (SET)'s 35th member brokerage next Tuesday. SET has added six member brokerages (Bualuang Securities Co., Trinity Securities Co., Finansa Securities Co, Credit Suisse...

STANLY recieves BOI certificate.
June 30, 2002... Thai Stanley Electric Plc (STANLY) has received the Board of Investment's promotional certificate (dated May 2, 2002) to engage in automobile parts & electronics prototype design. According to the filing with The Stock Exchange of...

LH, GIC establish Bt500-mn property fund.
June 30, 2002... Land & House Plc (LH)'s board of directors have approved the plan to set up a Bt500 million property fund with the Government of Singapore Investment Corporation (GIC). Land & House and its subsidiaries will invest Bt250 million in the...

No change in KTB's rating.
June 30, 2002... The recent announcement by state-owned Krung Thai Bank Plc (KTB) that may launch a public share offering in November will not have immediate impact on the bank's rating. According to Standard & Poor's (S&P), S&P requires specific...

The post office plans to make back its accumulated losses in five years - Krungthep Turakij 28/6/02.
June 30, 2002... The post office plans to raise its fees and increase its efficiency to become profitable after privatisation, according to a report in Krungthep Turakij. When the Communications Authority of Thailand (CAT) privatises, the post office...

SETTrade Dot Com has improved its website - Krungthep Turakij 28/6/02.
June 30, 2002... SETTrade Dot Com has added new services to its website and is calling it an investment portal, Krungthep Turakij reported. SETTrade Dot Com is launching its new investment portal on 12 July. The portal was developed from SETTrade Dot...

HSBC is the latest broker - Krungthep Turakij 28/6/02.
June 30, 2002... As of 2 July, HSBC Securities (Thailand) will become an official broker and member of the SET, a report in Krungthep Turakij said. HSBC Securities (Thailand) is the latest securities company to be registered as a full broker and member...

The weak dollar may affect Thailand's gems and jewelry exports - Krungthep Turakij 28/6/02.
June 30, 2002... Since the US economy is weak, Thai jewerly exporters will try to make more sales in other markets this year, a report in Krungthep Turakij said. The chairman of the Thai Chamber of Commerce's Gems and Jewelry Committee said jewelry...

ROBBER SHOT DEAD DURING PHARMACY SHOOT-OUT.
June 30, 2002... A robber was shot dead and a security guard wounded during a shoot-out at a pharmacy in Craighall, Johannesburg on Sunday morning, police said. Captain Schalk Bornman said the security guard responded to a break-in at the pharmacy around...

MAN SHOT DEAD DURING ARGUMENT.
June 30, 2002... A 29-year-old man was shot dead during an argument in the Point area, north of Durban on Saturday night, police said on Sunday. Inspector Michael Read said Sheldon Henwood was involved in an argument with another man at a house in Mona Road...

BYSTANDERS APPREHEND MAN AFTER SHOOTING.
June 30, 2002... Bystanders apprehended a man after he allegedly shot two people, including a security guard, outside a nightclub in Yeoville, Johannesburg on Saturday night, police reported on Sunday. Captain Schalk Bornman said the 24-year-old confronted...

FOUR PEOPLE KILLED IN DURBAN ACCIDENT.
June 30, 2002... Four people died in a head-on collision on the Inanda Road, north of Durban on Saturday, KwaZulu-Natal police said on Sunday. Inspector Michael Read said a red Mitsubishi van, travelling from KwaMashu, smashed into two oncoming vehicles -- a...

FIVE PRISONERS ESCAPE FROM PONGOLA CELLS.
June 30, 2002... KwaZulu-Natal police are searching for five awaiting-trial prisoners who escaped from the Pongola police station on Saturday, police said on Sunday. Superintendent Musa Zondi said the men escaped through the roof of their police cell. The men...

WIFE ARRESTED FOR ALLEGEDLY KILLING HUSBAND.
June 30, 2002... A 28-year-old woman was arrested on Saturday in connection with the murder of her husband in Krugersdorp, West Rand police said on Sunday. Captain Tshisikhawe Ndou said the woman allegedly put sleeping tablets in her 34-year-old's husband...

MAN ARRESTED AFTER KIMBERLEY CRASH.
June 30, 2002... A 32-year-old man was arrested on Saturday night for driving under the influence of alcohol after he crashed into the back of a bakkie outside Kimberley, Northern Cape police said. Captain Cherelle Ehlers said on Sunday the man, who was...

RAND COMMISSION'S REPORT TO BE HANDED TO MBEKI.
June 30, 2002... The rand commission's final report into last year's rapid depreciation of the currency is likely to be handed to President Thabo Mbeki sometime next week. Department of Justice and Constitutional Development spokesman Paul Setsetse said on...

BUTHELEZI IN GAG ATTEMPT STORY HAS IFP `FLABBERGASTED'.
June 30, 2002... A report that Inkatha Freedom Party leader Mangosuthu Buthelezi is involved in a desperate last bid to prevent the Truth and Reconciliation Commission from finalising its report is not correct, says his special adviser, Mario Ambrosini. He...

YOUTH MOVEMENT CALLS ON AU TO SUPPORT YOUTH NEEDS.
June 30, 2002... The Pan Africanist Youth Movement (PAYM) on Sunday called on the newly formed African Union, its member governments and businesses to institutionalise and resource youth development programmes to support the youths' needs. The PAYM made the...

SALGA TO PROTECT COUNCILLORS ON DEFECTION ISSUE.
June 30, 2002... The SA Local Government Association (Salga) on Sunday said it would set up a legal advice centre to assist municipalities and councillors on the new defection legislation. Salga's national executive committee met over the weekend in Pretoria...

DURBAN FARMER RECOVERING AT HOSPITAL.
June 30, 2002... A farmer was in a stable condition at Umhlanga Hospital, north of Durban on Sunday after he was attacked by four armed men at his farmhouse earlier in the day, KwaZulu-Natal police said. Inspector Michael Read said the men entered Rajan...

MUGABE THREATENS TO SEIZE ANGLO AMERICAN COMPANY.
June 30, 2002... President Robert Mugabe has threatened to nationalise one of the country's largest companies, majority-owned by South Africa's Anglo American Corporation. In Zimbabwe's Sunday Mail, Mugabe accused the multinational company of manipulating...

EXPECTED MINIMUM AND MAXIMUM TEMPERATURES FOR TOMORROW: 2002-07-01.
June 30, 2002... ISSUED AT 16:00 SAST BY THE SOUTH AFRICAN WEATHER SERVICE Pretoria 07 19 Johannesburg 04 16 Vereeniging 03 16 Nelspruit 08 21 Ermelo 03 14 Witbank 04 16 Standerton 01 15 Skukuza 07 23 Polokwane 07 19 Phalaborwa 12 22 Tzaneen 14 20 Messina 13...

THE REGIONAL WEATHER FORECAST FOR TOMORROW: 2002-07-01. ISSUED AT.
June 30, 2002... 16:00 SAST BY THE SOUTH AFRICAN WEATHER SERVICE. GAUTENG: Partly cloudy becoming fine and mild. The expected UVB sunburn index in Pretoria: Moderate. MPUMALANGA: Cloudy with morning drizzle and fog patches along the escarpment, otherwise...

TRAVELLERS WEATHER FORECAST FOR TOMORROW: 2002-07-01. ISSUED AT.
June 30, 2002... 16:00 SAST BY THE SOUTH AFRICAN WEATHER SERVICE. PRETORIA: Partly cloudy becoming fine. Minimum/Maximum: 07/19 C. The expected UVB sunburn index: Moderate. JOHANNESBURG: Partly cloudy becoming fine. Minimum/Maximum: 04/16 C. NELSPRUIT: Cloudy...

SALES OF RUGBY BOOK ON THE INCREASE.
June 30, 2002... The sales of a rugby book saying black players are no longer entitled to special treatment in terms of racial quotas are rocketing, the mainly white MWU-Solidarity labour union said on Sunday. "The first edition of the book Struggle Rugby: A...

TWO FARMERS ATTACKED IN VERULAM.
June 30, 2002... A farmer was killed and another was in a stable condition at Umhlanga Hospital, north of Durban, after they were attacked in Verulam at the weekend, KwaZulu-Natal police said on Sunday. Kesavan Govender, 67, was shot dead at his Inanda...

VAN SCHALKWYK ATTENDS GRASSY PARK MEMORIAL SERVICE.
June 30, 2002... Western Cape premier Marthinus Van Schalkwyk on Sunday offered his condolences to the families of five petrol attendants who were killed execution style at a Shell Garage in Grassy Park, Cape Town a few days ago. The government would "leave...

PRISONERS HOLD JOBURG POLICE HOSTAGE.
June 30, 2002... A policeman was injured when five awaiting trial prisoners held him and his colleagues hostage at the Johannesburg Central Police Station on Sunday afternoon, Gauteng police said. Superintendent Chris Wilken said a hostage negotiating team...

FSTATE NNP NAMES DA COUNCILLORS AS PARLY CANDIDATES.
June 30, 2002... The New National Party (NNP) in the Free State included five Democratic Alliance councillors in its parliamentary candidates list without their permission, the DA said on Sunday. "The DA views the NNP's action in a very serious light. It...

GAUTENG POLICE SEIZE DRUGS WORTH R200M.
June 30, 2002... Gauteng police seized cocaine, Mandrax and equipment used to manufacture drugs worth R200-million at a house in Douglasdale, north of Johannesburg, on Sunday. Inspector Dennis Adriao said members of the Johannesburg organised crime unit...

POLICEMEN HELD HOSTAGE AT TWO STATIONS.
June 30, 2002... Two hostage dramas occurred at separate police stations over the weekend when awaiting trial prisoners overpowered police officers. Superintendent Chris Wilken said three policemen were overpowered and held hostage at the Johannesburg...

INITIATION SCHOOL CHILD FEARED DEAD.
June 30, 2002... Police will on Monday search for a child at an initiation school near Heidelburg on the East Rand after another death had been reported, Gauteng police said. Spokeswoman Annaline Prinsloo said a 17-year-old boy escaped from the school on...

ANOTHER HEIDELBERG INITIATE FEARED DEAD.
June 30, 2002... Another initiate is feared dead after his friend escaped from an initiation school in Heidelberg on the East Rand on Sunday to seek help, police said. Spokeswoman Annaline Prinsloo said a 17-year-old youth escaped from the school because he...

Moody's: Confirms long-term credit ratings of 77 bank, Chugoku Bank, Shinkin Central Bank and Norin Chukin Bank.
June 30, 2002... Moody's Investors Service confirmed the long-term debt and deposit ratings of 77 Bank, Chugoku Bank, Shinkin Central Bank, and Norin Chukin Bank. The rating outlook is negative reflecting deteriorating operating environment for banks in...

GE Capital acquires auto finance company from USB Capital in Singapore.
June 30, 2002... GE Capital announced that it has acquired a leading Singapore auto finance company, SDL Leasing Singapore Pte Limited, from UBS Capital Asia Pacific. SDL, which was founded in 1983, has assets of more than S$400 million and a major share of...

Singapore: Get your will written for Free? With ABN Amro's housing loan.
June 30, 2002... ABN AMRO Bank announces the best news yet for homeowners in Singapore--the launch of the most attractive mortgage-financing product in town. With a first-year rate of just 2.18% p.a., this innovative package comes with an expanded list of...

Singapore: OCBC Bank introduce home loan package with unique cashback feature.
June 30, 2002... Oversea-Chinese Banking Corporation Limited ("OCBC Bank") unveiled a promotional home loan package that gives customers 0.75% of the loan amount back in cash. This package applies to loans for completed properties as well as refinancing...

Wilco International delivers front-to-back office solution to TD Waterhouse in Australia.
June 30, 2002... Wilco International, a subsidiary of Automatic Data Processing, Inc (NYSE:ADP), has announced that TD Waterhouse in Australia has commenced live operations on its Order STP order validation and management system and its SUMMIT broker client...

ABN AMRO Futures selects SunGard for Automated STP Solution.
June 30, 2002... SunGard Business Integration, an operating group of SunGard (NYSE: SDS), announced that ABN AMRO Futures Ltd. has selected MINT to automate end-to-end trade processing across its operations. The environment in which ABN AMRO Futures...

HKMA: Granting of banking licence to Taipei Bank.
June 30, 2002... The Hong Kong Monetary Authority announced today (Friday) that the Monetary Authority has granted a banking licence to TAIPEIBANK Co., Ltd. (TPB) under the Banking Ordinance. This grant of banking licence took effect on 30 May 2002. TPB...

Australia: Macquarie securitisation launches global MBS issue.
June 30, 2002... Macquarie Securitisation Limited has filed a preliminary prospectus with the US Securities and Exchange Commission (SEC) for its second global RMBS issue through its PUMA Programme, Macquarie's Residential Mortgage Backed Securitisation...

HSBC Holdings annual general meeting - a statement given by Sir John Bond, Group Chairman.
June 30, 2002... 2001 was a challenging year for the financial services industry. Given the harsh economic terrain we were crossing, HSBC performed well overall, the decrease in profits principally reflecting events in Argentina. Elsewhere, the US...

MasterCard launches industry's first unified global vendor program.
June 30, 2002... MasterCard International introduced the industry's first global vendor program. The MasterCard Vendor Program (MVP) gives vendors a single point of access to the comprehensive business and technical information needed to most effectively and...

BCB and Celcom choose 724 Solutions' Wireless Solution for SMS prepaid mobile recharging service in Malaysia.
June 30, 2002... 724 Solutions announced that its wireless solution has been chosen by one of Malaysia's largest banks, Bumiputra Commerce Bank Berhad (BCB), and Malaysia's second largest mobile operator, Celcom (Malaysia) Berhad. The solution enables...

Hong Kong: Dao Heng Bank and DBS Kwong On Bank raise transparency standards.
June 30, 2002... Dao Heng Bank and DBS Kwong On Bank (the "Group") are pleased to announce that the Group will be implementing revised banking practices on June 1, 2002, which will be in full compliance with the revised Code of Banking Practice issued by the...

Westpac Bank completes Rothschild Aust Asset Management transaction.
June 30, 2002... Westpac Banking Corporation and Rothschild Australia Asset Management Ltd announced they had formally completed the deal to combine their funds management businesses to form a new organisation. This follows the announcement on 23 April...

Hong Kong: Hang Seng Bank receives approval for Shenzhen branch to offer foreign currency services to mainland customers.
June 30, 2002... Hang Seng Bank has received approval from the People's Bank of China for its Shenzhen Branch to offer foreign currency banking services to mainland Chinese citizens and corporations. This follows similar approval granted to its Shanghai...

South Korea: Kookmin Bank overhauls branches for SME banking.
June 30, 2002... Instead of paring down its branch network, South Korea's largest lender will roll out refurbished branches aimed specially at the mid-market segment. At a time when bank mergers in Asia are leaving many small- and medium-sized...

Taiwan: Ta-Chong Bank chooses HNC Falcon Fraud Manager to mitigate credit card fraud.
June 30, 2002... HNC Software Inc. (Nasdaq:HNCS), a leading provider of high-end analytics and decision management software, and EDS (NYSE:EDS), the leading global services company for managing the business and technology complexities of the digital economy,...

HSBC offers free new credit card online bill payment service.
June 30, 2002... HSBC customers can now pay their bills with their credit cards online, allowing them to enjoy an interest-free repayment period of up to 56 days as well as accumulate additional reward points. HSBC cardholders can settle through the...

Australia: Macquarie Bank in consortium to acquire AXA Health.
June 30, 2002... Macquarie Bank Limited (Macquarie) announced today it is arranging and participating in a consortium that will acquire 100 per cent of AXA Health Insurance (AXA Health). AXA Health is the third largest private health insurance business in...

Thai military bank invests in CA's Unicenter to enhance services and retail banking.
June 30, 2002... Computer Associates International, Inc. (CA) today announced that Thai Military Bank (TMB), one of Thailands largest commercial banks, has selected CAs acclaimed Unicenter family of solutions to automate and simplify key administrative...

Australia: HSBC to acquire corporate banking and trade finance business of State Street Bank.
June 30, 2002... HSBC Bank Australia Limited is to acquire the corporate banking and trade finance business of State Street Bank and Trust Company's Global Trade Banking Australia business for a A$2.3 million cash premium, which will be funded from the bank's...

HSBC Holdings extends Fair, Isaac's Strategy Science to installment loan products.
June 30, 2002... Growing demand for Fair, Isaac and Company's (NYSE:FIC) groundbreaking breed of decision analytics has resulted in a new agreement with the UK-based financial institution HSBC Holdings plc and HSBC Bank plc, which will utilize Fair, Isaac's...

Singapore's CLS JV goes full throttle.
June 30, 2002... Three Singapore banks step up the development of a joint venture for a CLS utility, while Hong Kong enjoys the returns from its existing settlement infrastructure. Singapore's DBS, UOB and OCBC - which teamed up in January this year to...

Hong Kong: Credit Card newcomer UOB celebrates impressive first quarter.
June 30, 2002... Singapore's largest card issuer United Overseas Bank ("UOB"), has achieved a new milestone in Hong Kong's credit card market, by outperforming the industry benchmark of spending per card by an impressive 45 percent. This comes despite a...

U.S.: NetBank announces plan to offer insurance in all 50 states.
June 30, 2002... NetBank, Inc. (NASDAQ: NTBK) , a diversified, value-oriented financial services provider and the holding company for the country's largest independent Internet bank, NetBank(R) (), Member FDIC and Equal Housing Lender, today announced a...

ING Financial Markets to use Credient for best practice credit portfolio management.
June 30, 2002... SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), announced that the ING Group of Netherlands has selected Credient, a comprehensive credit risk management solution delivered via an application service provider...

Australia: Macquarie Securitisation prices USD 1.0 billion global MBS issue.
June 30, 2002... Macquarie Securitisation Limited priced USD1.0 billion in USD denominated Class A Notes to be issued under its second global mortgage-backed vehicle, PUMA Global Trust No. 2, in New York overnight. AUD63 million in AUD denominated Class B...

ING Group sells 35.5 million shares in Fortis.
June 30, 2002... ING Group (NYSE: ING) announced it successfully completed the sale of its remaining holding of ordinary shares in Fortis. The 35.5 million shares have been placed at a price of EUR 22.75 per share in cash, generating gross proceeds of about...

Moody's: Singapore's Aa1 ratings and stable outlook are based on strong fundamentals.
June 30, 2002... In its annual report on the Singapore, Moody's Investors Service reports that the country's Aa1 foreign currency ratings and stable outlook are based on strong economic fundamentals, a comfortable external asset position, and the ability to...

Kenneth C Borda appointed CEO Deutsche Bank Asia Pacific (ex Japan).
June 30, 2002... Deutsche Bank today announced that Kenneth C Borda, currently Chief Executive Officer, Australia/New Zealand, has been appointed Chief Executive Officer, Asia Pacific (ex Japan) effective from June 30th. His appointment to the role, which...

USA: Union Bank of California and AcuPrint Technology announce positive pay referral agreement.
June 30, 2002... Union Bank of California, N.A., a $36 billion full-service bank with locations throughout California, Oregon and Washington, and AcuPrint Technology, an industry leader in secure payment transaction solutions, announced the establishment of a...

BNP Paribas and AXA to acquire Banque Directe.
June 30, 2002... AXA and BNP Paribas have concluded an agreement in principle with regards to the acquisition by AXA Banque of 100% of the capital of Banque Directe, subsidiary of the BNP Paribas Group. This agreement is pending the opinion of employees...

China: Dailan branch of The Bank of East Asia now licensed to offer Renminbi services.
June 30, 2002... The Bank of East Asia (BEA) announced that it has obtained official approval to offer Renminbi services to its customers from Dalian Branch in China. BEA has announced earlier that all of its seven branches and one sub-branch in China...

China: HSBC obtains approval for all its mainland branches to offer new foreign currency services.
June 30, 2002... HSBC has obtained approval for all its branches in mainland China to offer foreign currency services to local citizens and corporations. With six additional licences, HSBC now has the largest network among foreign banks to serve local...

Singapore: Migration of Finixis customers to OCBC Bank.
June 30, 2002... Oversea-Chinese Banking Corporation Limited ("OCBC Bank") announces that Bank of Singapore (BOS), its wholly-owned Internet banking subsidiary, will be migrating its finixis customers to OCBC Bank. The move will allow BOS to focus its...

USA: E*Trade Bank, Washington Mutual, First Citizen's Bank, GMAC Bank to deploy Consumer e-Finance Suite.
June 30, 2002... Financial Fusion, Inc. announced that E*Trade Bank, Washington Mutual, First Citizen's Bank, GMAC Bank and Todo1, have all successfully deployed Financial Fusion Consumer e-Finance Suite to create their 'next generation' online banking...

Fitch affirmed ratings of Bank of East Asia, Dah Sing Bank and Wing Hang Bank.
June 30, 2002... Fitch Ratings, the international rating agency, has affirmed the ratings of Bank of East Asia (BEA), Dah Sing Bank (DSB) and Wing Hang Bank (WHB) as listed below. Long-term Short-term Individual Support Outlook Bank of East Asia A-...

Australia: Adelaide Bank lifts home loan rates.
June 30, 2002... Adelaide Bank announced a 0.25 per cent pa increase in the majority of its variable interest home loan portfolio, in line with yesterday's increase in official interest rates by the Reserve Bank of Australia. This takes the standard...

HKMA: Commencement of Operation of Guangdong / Hong Kong Two-way Joint Clearing Facility for HK Dollar Cheques.
June 30, 2002... The Hong Kong Monetary Authority (HKMA) announced the new two-way Joint Clearing Facility established with the Guangzhou Branch of the People's Bank of China (PBoC) will commence operation on 22 June 2002. Under the new clearing...

Singapore: OCBC Bank dissolves corporate office.
June 30, 2002... Oversea-Chinese Banking Corporation Limited ("OCBC Bank") announces that the Corporate Office established six months ago will be dissolved with immediate effect. The Corporate Office, comprising Directors of the Board and senior...

Austrlia: St. George Bank appoints head of Investment Services Division.
June 30, 2002... St George Bank announced the appointment of Mr Paul Fegan to become Group Executive of its Investment Services Division. Mr Fegan is currently Chief Operating Officer of Yorkshire Bank, and a Director of both Yorkshire Bank and Clydesdale...