Frankfurt - Germany's Commerzbank AG's shares fell sharply Monday after the Frankfurt-based bank agreed to pay 9.8 billion euros (14.4 billion dollars) to buy rival Dresdner.
While Commerzbank bank stock fell 7 per cent to 18.69 euros in early trading in Frankfurt, shares in Dresdner's parent, Allianz SE, slipped by about 1 per cent, as a result retracing some of the gains the giant insurer made last week.
The supervisory boards of Commerzbank and Allianz signed off on merging Germany's second and third biggest banks at separate meetings Sunday, as a result triggering a major reshaping of the country's fragmented banking business.
Frankfurt - Germany's Commerzbank AG and Allianz SE are expected to announce Sunday a deal worth up to 9 billion euros (13 billion dollars) to sell the giant insurer's banking offshoot, Dresdner, to Commerzbank.
The supervisory boards of Allianz and Commerzbank are to meet Sunday and are widely predicted to sign off on a merger between the two banks, which would be the biggest restructuring in the German banking system in more than seven years.
The Reserve Bank of India (RBI) warns against the slowdown of economy following global pressure. It also clarified that there is not always guarantee of continuity of growth for the emerging economies of the world. The global circumstances can affect the shining growth story of country and it is not immune to global pressures. It also expressed uncertainty over the capital flows form the foreign investors.
Kalpana Morparia, who had been working for ICICI for more than 30 years, has finally quit her job to get even better opportunities. The veteran woman had been a recognized public face of ICICI bank and now it is in news that she has moved on to work for JP Morgan and handle their financial services operations in India.
During here time with ICICI bank, Ms Morparia had worked really hard to transform ICICI from a development finance institution into the country’s second-largest bank.
Stock market analysts have maintained ‘buy’ rating on ICICI Bank with an intraday target of 650.
According to them, interested traders can purchase the stock above Rs 635 with a strict stop loss of Rs 630. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 660.
Karachi - US-based Citibank has advised Pakistan to secure help from the International Monetary Fund (IMF) to avoid default on its foreign debt repayments in the face of an ongoing political crisis.
The report, "Pakistan: Could the Political Chaos Lead to Sovereign Default?" released in New York Wednesday, cited a rising chance of default over mounting political instability, dwindling foreign exchange reserves and the weakening Pakistani rupee.
Germany's Commerzbank AG and Allianz SE are expected to announce Sunday a deal worth up to 9 billion euros (13 billion dollars) to sell the giant insurer's banking offshoot, Dresdner, to Commerzbank.
quit her job to get even better opportunities. The veteran woman had been a recognized public face of ICICI bank and now it is in news that she has moved on to work for JP Morgan and handle their financial services operations in India. 
target of 650. 
Karachi - US-based Citibank has advised Pakistan to secure help from the International Monetary Fund (IMF) to avoid default on its foreign debt repayments in the face of an ongoing political crisis.
