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Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 09:02 - 0 comments - 0 attachments

Noble Group Default Risk Flares as Warning Deepens Crisis

Noble Group Ltd.’s crisis escalated as Moody’s Investors Service Inc. flagged an elevated risk of default after the embattled Hong Kong-based commodity trader warned of a quarterly loss of as much as $1.8 billion and announced more asset sales, Bloomberg ...

Daily Headline - global.abi.org - 07/27/2017 - 22:25 - 0 comments

Noble Group Pulls Back to Asian Roots After $1.8 Billion Loss

Noble Group Ltd. abandoned its global commodity-trading ambitions and set out a plan to fall back on its Asian roots as a second-quarter loss of as much as $1.8 billion challenges its survival, Bloomberg News reported. The trading house’s bonds slumped a ...

Daily Headline - global.abi.org - 07/26/2017 - 16:22 - 0 comments

Rich Singapore Investors Stuck as Local Bond Restructuring Drags

Singapore is ranked the second most competitive economy globally by the World Economic Forum, and is actually faster than most other countries in resolving insolvencies involving assets of all kinds, according to the World Bank, Bloomberg News reported. ...

Daily Headline - global.abi.org - 07/24/2017 - 20:12 - 0 comments

Comprehensive Cybersecurity Bill published for consultation in Singapore

On 10 July 2017, the Singapore Government unveiled its draft Cybersecurity Bill (the Bill) and announced a public consultation to seek views and comments from the industry and members of public. The public consultation runs from 10 July to 3 August 2017. ...

Resource Article - twallace@abiwor... - 07/14/2017 - 12:26 - 0 comments - 0 attachments

Norton Rose Fulbright announces Stella Cramer’s appointment to the Advisory Council of the SWIFT Institute

Global law firm Norton Rose Fulbright today announces partner Stella Cramer has been appointed as member of the SWIFT Institute Advisory Council. SWIFT is the Society for Worldwide Interbank Financial Telecommunications. Its messaging platform, produ ...

Resource Article - twallace@abiwor... - 06/30/2017 - 09:03 - 0 comments - 0 attachments

Noble Group Declines as Fitch Sees 'Real Possibility' of Default

Noble Group Ltd. shares slid Tuesday on the first day of trading after Fitch Ratings cut the embattled commodities trader’s credit rating to a score indicating that a default is possible, Bloomberg News reported. The company’s stock dropped 2.8 percent a ...

Daily Headline - global.abi.org - 06/27/2017 - 21:05 - 0 comments

Banks Reduce Loan Exposure to Noble Group

Around US$300m of a US$1.1bn revolving credit loan for Noble Group has been sold to funds in the secondary loan market as banks seek to limit their losses as the company faces a potential restructuring, banking sources said on Thursday, Reuters reported. ...

Daily Headline - global.abi.org - 06/08/2017 - 20:09 - 0 comments

Watch the Bond Deadlines of These Four Singapore Companies

Bloomberg’s default risk scale, a score from 0.52 percent to 10 percent indicates a company’s debt would be ...

Daily Headline - global.abi.org - 06/06/2017 - 22:26 - 0 comments

Singapore Shipyard Orders Hit by Oil Price Slide

The order book at Singapore shipyards fell by more than half last year as the city-state’s offshore industry was battered by the slide in oil prices. Companies in the sector have been forced to restructure debts and slash costs, including cutting their w ...

Daily Headline - global.abi.org - 05/25/2017 - 16:35 - 0 comments

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