Tunisia is proving a more reliable place to produce natural gas than Egypt as the smallest nation on the North African coast pays its fuel bills on time, a BG Group Plc executive said.
Standard Chartered Plc’s head of wholesale banking, Michael Rees , said the bank is unlikely to leave London because of the city’s “neutrality” and the backing of British taxpayers.
Standard Chartered Plc, the U.K. bank that makes about three-quarters of its earnings from Asia, posted a 24 percent drop in first-half profit after writing down the value of its Korean business by $1 billion.
Neuberger Berman Group LLC, the money manager that was part of Lehman Brothers Holdings Inc., reassembled a team of executives to invest as much as $1 billion in firms that run hedge funds.
Standard Chartered Plc, the U.K.’s second-largest bank by market value, reiterated its forecast for profit in 2012, even as revenue growth slowed in the first half of the year.
"The ability for Tunisia to continue to honor its contracts and to continue to pay for its energy supplies is fundamental for BG's continued appetite."
- Michael Rees on Oct 23, 2013