DBS Bank's Indian operations has recently completed Bank’s KYC implementation & enhancement journey from the manual systems to automated one. DBS is the largest bank in Singapore and the fifth largest in Hong Kong.

The Bank of England’s Monetary Policy Committee voted on July 5th to raise the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.75%.

UBS Securities LLC, the investment- banking division of Switzerland-based UBS AG, was accused by Massachusetts regulators of “dishonest and unethical'' practices in dealings with hedge-fund advisers, Bloomberg News reported.

Armenia could soon become a major financial center as banking is growing, internatioanl banks come to Armenia and the country may establish one of it's resorts cities Dilijan as country's financial center.

The team, led by Juan Miranda, Director General of the Central and West Asia Department, discussed recent developments and future plans for cooperation with Mr. Rustam Azimov, Deputy Prime Minister and Minister of Finance, and other senior government officials.

Wachovia Corp. and A.G. Edwards Inc. announced today an agreement under which Wachovia will acquire A.G. Edwards, which will be combined with Wachovia Securities, LLC, to create an industry-leading retail brokerage firm with $1.1 trillion in client assets and nearly 15,000 financial advisors. The combined firm will have an enhanced share of the U.S. brokerage market with significantly increased penetration in 48 of the 50 largest metropolitan statistical areas.

Today President Bush selected Ambassador Robert Zoellick as his candidate to head the World Bank. Robert Zoellick is the former US Trade Representative.

Fatemeh Angela Harkness, who is only thirty-one-years old is sentenced to three years and four months in federal prison for conspiring with banker Gary Jones to embezzle more than one million dollars from a bank to start own Nascar RACING TEAM.

Presence And Staff Force To Be Enlarged Over Next 5 Years

The banking trade associations in Washington, and their affiliates throughout the states, have undertaken a centrally organized attack on credit unions, calling on both the federal government and many state governments to raise taxes on credit unions. This bank program--called Operation Credit Union --is designed to gain commitments from all bankers to be actively involved in long term grassroots action in support of credit union taxation.

The benchmark BSE Sensex ended 36 points down on selling by funds, particularly in banking stocks after ICICI Bank posted lower-than-expected fourth quarter earnings.

By a unanimous vote of 71-0, the ICC Commission on Banking Technique and Practice approved an updated version of its widely acclaimed publication, International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP). The voting took place at the commission's meeting in Singapore on April 26th.