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.
Industrial and Commercial Bank of China (ICBC)
Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and China Construction Bank, the largest bank in the world in terms of market value and one of the world's top 10 banks by assets.
As of 30 June 2006, it had assets of US$893 billion, 18,764 outlets including 106 overseas branches and 1,165 agents globally. In July 2007, with a market capitalisation of US$254 billion it became the world's most valuable bank after a strong gain in its share price, overtaking Citigroup Inc.. ICBC was simultaneously listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange on 27 October 2006. It was the world's largest IPO to date, surpassing the previous record US$18.4 billion IPO by Japan's NTT DoCoMo in 1998. China's largest commercial bank is also the first company to debut simultaneously on both the Hong Kong and Shanghai stock exchanges.
Headquarters:
Beijing, China
Leadership:
Yang Kaisheng, Vice Chairman, Executive Director and President
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.
Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and 
