Michael West News
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Huaxia Bank Co.’s Pretty Lady credit card, co-issued with Deutsche Bank AG, entices women with triple points for cosmetics and fitness-club memberships. The Ms. Magic card from China Citic Bank Corp. dotted with Swarovski crystals offers free beauty treatments and health insurance.
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Deutsche Bank AG, the world’s top manager of foreign-currency debt sales, fell in South Korea’s rankings of bond-sale managers following indictments of four employees and a six-month ban on its securities unit.
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Ma Sin-chi, a Deutsche Bank AG managing director in Hong Kong, was charged with accepting HK$24.8 million ($3.2 million) in bribes in exchange for advice on the trading of derivative warrants issued by the bank.
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Thailand’s central bank dropped Deutsche Bank AG from its list of primary dealers for repurchase agreements in May, limiting the lender’s scope to trade government bonds in Southeast Asia’s second-largest economy.
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Deutsche Bank AG , Germany’s biggest lender, said a South Korean court ordered a freeze on some of its assets in the Asian nation.
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Deutsche Bank AG , Germany’s biggest bank, said two warrants traders were arrested in Hong Kong amid an investigation by the city’s Independent Commission Against Corruption into alleged bribery related to fraudulent trading.
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Jerome Kerviel was sentenced to three years in prison and ordered to repay Societe Generale SA ’s 4.9 billion-euro ($6.8 billion) trading loss by a judge who said the former trader’s actions threatened the bank’s existence.
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Indian Finance Minister Palaniappan Chidambaram is planning a tour of Asia and Europe aimed at wooing investors to the nation, as a record current-account deficit threatens growth, four people with knowledge of the matter said.
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Deutsche Bank AG was ordered by a Singapore court to pay $49 million to former client Chang Tse Wen in a dispute over losses on investments tied to Citigroup Inc. shares.
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Bank of America Corp., the biggest U.S. lender, has made a preliminary offer to bond insurer MBIA Inc. aimed at settling a legal dispute tied to defective mortgages, according to two people briefed on the discussions.
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