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  Bloomberg Switzerland’s financial regulator fined Coutts & Co. Ltd. for violating money-laundering rules and illegally profiting from transactions associated with Malaysian sovereign wealth fund 1Malaysia Development Bhd. Coutts, owned by Royal Bank of Scotland Group Plc, allowed a total of $2.4 billion worth of 1MDB-related assets to flow through accounts in Switzerland even though it had good reason to ...

  Bloomberg ING Group NV, the largest Dutch lender, said profit jumped 68 percent, more than analysts expected, as wholesale lending revenue rose while costs and bad-loan provisions fell. Underlying profit rose to 1.38 billion euros ($1.49 billion) in the fourth quarter from 822 million euros in the previous year, the Amsterdam-based bank said in a statement on Thursday. That ...

  Bloomberg Complex debt trades that started as a way for lenders to reduce their loan exposure are becoming a business opportunity for some of the world’s biggest investment banks. Others are worried they could become another source of systemic risk. Nomura Holdings Inc. and Credit Suisse Group AG are among the most-active firms earning high fees by providing loans ...

  JUBA / AP Warnings of possible genocide hang over the world‘s youngest nation, but here on a basketball court under a fierce morning sun, South Sudan‘s civil war seems like another country. Flashing up and down the court in blue and yellow jerseys, the players laugh and sweat as their wheelchairs jostle for position. This wheelchair basketball tournament in ...

  BELGRADE / DPA Yaser Harawi wasn’t too happy when his father sent him to study in Serbia rather than the US or Canada. Years later, the Syria-born doctor thinks it was a touch of fate. The 51-year-old from Damascus, who’s lived in Serbia for more than 30 years, has found meaning in helping Syrian and other migrants passing through ...

  Bloomberg Crude purchases in one corner of the oil market by a Chinese trader are contributing to the shake-up of supply flows across the globe. China National United Oil Co. last month bought at least 7 million barrels of Middle East crude for March loading as part of an assessment process operated by Platts used to set price benchmarks, ...

  Bloomberg The world’s biggest solar-thermal power plant is finally producing enough electricity. The Ivanpah Solar Electric Generating System in Southern California initially failed to meet contractual obligations, and a yearlong forbearance deal with Pacific Gas & Electric Co. expired Wednesday. After fine-tuning the complex facility that uses 170,000 mirrors, output is up and it’s no longer at risk of ...

  Reuters Increased refinery maintenance in Asia and the Middle East is expected to boost profits for operators in other regions in the first half of this year, market watchers said on Wednesday. Refineries worldwide ran hard during the past two years to capitalise on low oil prices, with Chinese refineries processing a record amount of crude in 2016, meaning ...

  Bloomberg Iraq’s decision not to reciprocate for US President Donald Trump’s visa ban on citizens of seven mostly Muslim countries offers some reassurance for US oil companies working in OPEC’s second-biggest crude producer. US companies working in Iraq include Exxon Mobil Corp. and oil-service providers Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. Most expatriates in Iraq work on ...

  Bloomberg US crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and maximize output. The world’s largest oil-consuming country could sell as much as 800,000 barrels a day of crude overseas this year, according to four analysts surveyed by Bloomberg. ...