Barclays 'to get cash infusion from major Japanese bank'

The UK banking sector certainly appears to have been stuck with a lot of sub-prime debt problems."Barclays Plc may be close to securing a 100bn yen (€594m) capital injection from Japan’s Sumitomo Mitsui Banking Corp. as part of the bank’s efforts to weather the impact...

Indonesian Stock Exhange Suspends Indosat shares

"Jakarta (ANTARA News) - The Indonesian Stock Exchange (ISE) on Monday suspended trading in PT Indosat Tbk (ISAT) shares in all markets until further notice.The head of ISE`s trading devision, Supandi, said here on Monday the measure was taken because there were media reports...

Temasek to challenge Jakarta court`s verdict

"Singapore`s state-owned investment firm Temasek Holdings Pte. Ltd is planning to file an appeal with Indonesia`s Supreme Court after its objections against the country`s anti-trust body ruling that it had violated Indonesia`s anti-monopoly law were rejected by the Central...

Singapore`s Temasek Holdings may sell BII stake -report

Singapore (ANTARA News) - Singapore's Temasek Holdings Pte Ltd may decide to sell its stake in Bank International Indonesia (BII), Indonesia's sixth-largest bank, instead of merging it with PT Bank Danamon Indonesia, the Asian Wall Street Journal reported Monday, citing...

South Korea Hana Financial buys small Indonesian bank

"International Finance Corporation holds an additional 19 percent stake in PT Bank Bintang, which has total assets of 244.9 billion rupiah ($26.28 million), with the remainder owned by unidentified Indonesian investors. Hana, with assets of $150 billion, has been seeking to...

Temasek wants to merge Indonesian banks: BII

"Singapore's Temasek Holdings wants to merge Indonesia's Bank Internasional Indonesia (BII) and Bank Danamon pending approval from banking regulatory bodies here, BII said Thursday.Bank Danamon is the fourth largest bank in Indonesia by assets, while BII is the sixth...

Temasek raises stake in Bank Internasional Indonesia

"Bank Indonesia is the Indonesian central bank. Temasek was recently in the headlines over its indirect shareholdings in two of Indonesia's largest cellular phone companies, PT Telkomsel and PT Indosat. The Indonesian anti-monopoly watchdog KPPU ruled Temasek breached...

Indonesian shares outlook - Higher on US rate cut hopes; banks in focus

"Lim said the Temasek news raises the chance for it to merge BII with PT Bank Danamon, in which it has a controlling stake, or to set up a holding company for the two banks.Temasek has another option to sell its stake in either BII or Danamon.The move is to comply with a...

Temasek seems to bow Indonesian law - legislator

""I think Temasek is showing its intention to bow to and abide by the KPPU`s decision by exercising its right to appeal the ruling," Andreas H Pareira, a member of the House of Representatives Commission for defense, information and foreign affairs, said. Andreas of the...

President did not discuss Temasek issue with Singaporean PM

""There was no discussion on the Business Competition Supervisory Commission (KPPU)`s ruling on Temasek. My meeting with Lee was only about Myanmar, the formulation of the ASEAN Charter and preparations for the signing of various agreements," Yudhoyono said at the Raffles...

Temasek case not to undermine investment

"In response to the concerns, President Susilo Bambang Yudhoyono said the KPPU`s decision would not undermine the investment climate in Indonesia."The KPPU`s ruling will not affect investment as the government has continued to improve the country`s investment climate from...

PKB faction in House supports KPPU`s ruling on Temasek

"The KPPU had found Temasek guilty of violating Law No 5 of 1999 on monopolies by its cross-ownership of two strategic Indonesian telecommunication companies, Indosat and Telkomsel."Now we should go on and take the next step: all those who sold Indosat and also Telkomsel must...

Temasek says `not guilty` of breaking Indonesian competition law

"Temasek executive director Simon Israel said Temasek was "not guilty" and the company would fight the ruling by the Indonesian business regulator which is also known as KPPU.Temasek owns 56 percent of Singapore Telecommunications (SingTel) which in turn owns 35 percent of...

Indonesian telecoms stocks fall on anti-monopoly ruling

"Shares of the largest telecommunication firm, PT Telekomunikasi Indonesia Tbk (Telkom) opened down 3.35 percent at 10,100 rupiah at the start of trading. Telkom owns 65 percent of Indonesia's biggest mobile phone operator Telkomsel. PT Indosat Tbk, Indonesia's second-largest...