Standard Chartered News

Bitcoin price had scaled a four-month high above $52,000. A new cryptocurrency research team at Standard Chartered has predicted bitcoin will double in value and hit $100,000 by early next year. Bitcoin was at $46,024 in early European trading.

Arbitration proceedings were administered by the Singapore International Arbitration Centre.

A spokesman for Goldman Sachs said the bank would sharply increase its Polish headcount to between 750 and 800 by the end of next year, up from 525 now.

The bank is attempting to show investors it can return to growth, after a sweeping restructuring under Chief Executive Bill Winters succeeded in cutting costs but also slashed revenues.

ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.

As banks and ATMs on continue to witness chaos, famous novelist Chetan Bhagat on Saturday opined, while demonetisation might be well-intentioned, the poor execution of an idea leads to problems for ordinary citizens.

A rare bank robbery in Singapore has sparked a social media debate on whether the country`s low crime rates made authorities and the population too complacent, questioned bank security and criticised police for not providing details of the incident.

A normal monsoon is critical to India's continuing recovery, as a rise in agricultural growth could add 30-45 bps to GDP growth, says a Standard Chartered report.

The headline inflation rose to 5.4 percent in April, dashing hopes of a rate cut by the RBI. The RBI is targeting to get it down to 5 percent by early 2017.

The Indian economy is expected to clock a GDP growth of 7.4 percent this fiscal largely driven by the lagged impact of a good monsoon and increased consumer spending, supported by pay commission awards, a Standard Chartered report said.

Tata Steel Europe said on Monday it had asked Standard Chartered to work as an adviser alongside KPMG to look for interested buyers. The bank has links with Tata Group in India and is expected to be tasked with finding possible suitors in Asia, especially among Chinese steel producers.

Tata Steel Ltd has hired a team of Standard Chartered Plc bankers to help sell its loss-making UK business amid Britain`s attempt to prevent the closure of one of it`s biggest manufacturing operations, a source familiar with the matter said.

Profits at Standard Chartered plunged 84 percent last year, its worst result since 1998, sending the bank`s shares down as much as 10 percent on Tuesday as volatile markets, weak commodity prices and low interest rates took their toll.

Standard Chartered plc has axed at least half a dozen oil and gas advisory banking roles in recent weeks, ending an eight-year attempt to build a global energy M&A team, people familiar with the matter told Reuters.

The country's largest foreign lender Standard Chartered Tuesday appointed Zarin Daruwala of ICICI Bank as its new Chief Executive in the place of incumbent Sunil Kaushal who will be elevated as the regional head for Africa and West Asia operations.

Yes Bank on Friday said it has signed a pact with the London Stock Exchange (LSE) for bonds and equity issuance with focus on green infrastructure finance, under which it plans to list up to USD 500 million green bond on the bourse by December next year.  

British major Standard Chartered Tuesday said it is examining the legal aspect as to whether Indian Depository Receipt holders of the lender can participate in the USD 5.1 billion rights issue programme.

"India has faced a slowdown in economic growth since 2012, relative to the higher rates of previous years, combined with high indebtedness in some corporate sectors and lower appetite for refinancing, reducing the success of corporate debt restructuring and distribution efforts," the August 2015 statement said.

The job losses are part of a major restructuring that will cost around USD 3 billion, the bank said.

Country's largest mortgage lender HDFC and four other lenders, including Canara Bank and StanChart, cut their base rates by up to 0.25 percent, a move that will make home, auto and other loans cheaper.