Bloomberg Societe Generale SA said a former trader who insists he was made a scapegoat for the bank’s role in a rate-rigging scandal should face up to criminal charges in the UK before a Paris court rules on his bid for more than $9 million in compensation. The French lender disputed Stephane Esper’s lawsuit at a hearing, saying that employment ...

Bloomberg Standard Chartered Plc, one of the biggest financiers of global trade, isn’t losing sleep over an increasingly fractious relationship between the world’s two largest economies. Standard Chartered is well-positioned to deal with the fallout of a lasting dispute between the two nations, the bank said as it reported first-half profit that beat analysts’ estimates. Despite the escalation of US ...

Bloomberg Stuart Scott, the former head of currency trading at HSBC Holdings Plc, won a last-ditch battle to block his extradition to the US, where he would face wire-fraud charges. Scott was charged, along with his ex-boss Mark Johnson, by the US Justice Department in July 2016 with front-running a $3.5 billion currency order from Cairn Energy Plc in 2011 ...

Bloomberg Jielun Zhu, the former head of Asia healthcare investment banking at Jefferies Financial Group Inc., is joining I-Mab Biopharma Co. as chief financial officer, people familiar with the matter said. In his new Hong Kong-based role, Zhu will focus on helping I-Mab with a planned initial public offering in the city, according to the people. The Chinese biotech firm ...

Bloomberg Credit Suisse Group AG global markets unit failed to keep pace with trading gains at Wall Street rivals, prompting CEO Tidjane Thiam to defend the underperforming business. Net revenue at global markets fell 6 percent in the second quarter from a year earlier after declines in fixed income sales and trading and equities. Overall trading revenue at Zurich-based Credit ...

Bloomberg Mizuho Financial Group Inc.’s first-quarter profit rose, as gains from fee businesses and sales of its shareholdings helped the Japanese lender offset the effects of the central bank’s continuing monetary stimulus program. Net income climbed 36 percent to $1.4 billion in the three months ending June 30 from a year earlier, the Tokyo-based bank said in a statement. Shares ...

ADEN / WAM The UAE grant to support the ‘Yemen: Humanitarian Response Plan 2018’ of the UN has benefitted over 20,000 Yemeni families, the United Nations High Commissioner for Refugees, UNHCR, has said. The remarks came during a meeting between Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, Ayman Gharaibeh, UNHCR’s Representative to Yemen, and Jacqueline Parlevliet, Head of ...

Abu Dhabi / Emirates Business Al Hilal Bank has announced a new partnership with the Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, aimed at promoting Islamic Finance in Abu Dhabi and across the UAE. The Memorandum of Understanding (MoU) was signed by Alex Coelho, Chief Executive Officer at Al Hilal Bank, and Richard Teng, Chief ...

Dubai / Emirates Business Amlak Finance PJSC, a leading specialised Islamic real estate financier in the Middle East, announced its financial results for the first half ending 30 June 2018. Amlak reported net profit attributable to equity holders of AED10.4 million in H1 2018, an increase of 2% compared to AED 10.2 million for the same period last year. The ...

HODEIDAH / WAM Around 42,000 Yemenis, including 30,000 children and 6,000 women, have benefitted from the food aid distributed by the Emirates Red Crescent (ERC) to the residents of Al Tuhayta District and the liberated areas of Zabid and neighbouring villages in Hodeidah Governorate, as part of the ERC’s humanitarian efforts to rescue citizens in the liberated areas of Yemen’s ...