Oct, 22 The price of the oil basket (OPEC) fell to $60 a barrel.
Oct, 17 World oil prices fell below $70 a barrel.
Oct, 6 The capitalization of the world stock exchanges fell by 2.5 trillion dollars.
Banco Delta Asia
Banco Delta Asia is a Macao-based bank, owned by the Delta Asia Financial Group, which has been in operation since 1935. The Delta Asia Financial Group is a full-fledged banking and financial services group encompassing the territories of Macau and Hong Kong. Its banking arm in Macau, Banco Delta Asia S.A.R.L., (formerly known as Banco Hang Sang, S.A.R.L.), and its deposit taking subsidiary in Hong Kong, Delta Asia Credit Limited (formerly known as Foreign Exchange and Investment Ltd.), started their operations in Macau and Hong Kong in 1935 and 1962 respectively. Today, the Delta Asia Financial Group is well-known for its three core business activities, viz., investment banking, commercial banking and insurance.
The bank has been accused of engaging in money laundering and distribution of Superdollars for the government of North Korea. In 2005, after sanctions were imposed on it by the United States, the bank's executive board resigned and was replaced by government appointees. As a result of this, several North Korean companies in Macao which had accounts with the bank, including Zokwang Trading, had their accounts frozen.
Repartition of the Global Banking System is inevitable - 05.12.2008 The financial crisis continues to storm in the global markets. This time the main victim of crisis is a banking system developed and developing countries. And experts notice, that the global banking system will undergo huge changes by 2012.
US government puts up $300bn in Citigroup rescue - 25.11.2008 The US government pulled Citigroup back from the abyss yesterday with a comprehensive bail-out that saw taxpayers guaranteeing $306bn of risky assets and injecting $20bn of capital into the banking group.
HSBC cuts 450 jobs in Hong Kong - 18.11.2008 HSBC was laying off 500 people in Asia, 90 percent of them in Hong Kong, in a further indication that the Asian financial community, so far relatively unscathed by mass layoffs seen on Wall Street, is being affected by the global financial crisis.
