TANZANIA DIASPORA INITIATIVE DUE TO BE LAUNCHED SOON

AN initiative promoting investment and homecoming of Tanzanians living in the Diaspora will be launched in Dar es Salaam later this month, an official with the Prime Minister's Office said.

Tanzanians living in the Diaspora are scheduled to meet for the first ever at a conference to be held at the Serena Hotel in Dar es Salaam from August 14-15, 2014 under the theme: "Connect, Engage, Inform and Invest."

"This two-day conference seeks to bring together Tanzanians living in the Diaspora and returnees for a business investment forum.

EXIM BANK’S QUARTER 2, 2014, PRE-TAX PROFIT UP BY 80%

Exim Bank Tanzania acting Chief Financial Officer Issa Hamisi (middle) speaks about the bank’s performance during the second quarter of 2014 in Dar es Salaam recently. He is flanked by Chief Internal Auditor, George Binde (left) and Research and Business Analysis Manager, Joseph Mrawa.

Exim Bank Group second-quarter pretax profit rose 80 percent to TZS 9.6 billion from the same period last year as per recently published results.

“We are pleased to report good results in the second quarter of the year,” said Issa Hamisi, Exim Bank acting Chief Finance Officer & Senior Finance Manager. “Strong top-line revenue growth reflects the success of the Bank’s highly diversified income streams. We continue to improve upon operational efficiency to optimize our customers’ satisfaction. Our Bank is continuing to move in the right direction. We are making progress towards fulfilling our ambitions. Our Q2 results show that we have continued with an excellent performance this year,” he added.

TIB DEVT. BANK LOANS SET TO PROMOTE AGRO-INDUSTRY

Dodoma. TIB Development Bank is now eying entrepreneurs who are establishing industries for processing agricultural products,The Citizen has learnt.

This was revealed by the senior official with the bank’s agricultural unit, Mr Adam Athuman, when he recently spoke to The Citizen during the ongoing Nane Nane Agricultural Fair 2014 at Nzuguni grounds in the region.

Mr Athuman said the bank has allocated funds for loans to registered companies engaged in processing of agricultural products in a bid to increase their production capacities.  The idea is to expand oportunities for farmers since agro-industries provides a ready local market for produce that at times go to waste for lack of buyers.

WORLD BANK GROUP COMMITS $5 BILLION TO BOOST ELECTRICITY IN SIX AFRICAN COUNTRIES

World Bank Group President, Dr. Jim Yong Kim

WASHINGTON, August 5, 2014 - The World Bank Group has committed $5 billion in new technical and financial support for energy projects in six African countries-- Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania—which have partnered with President Obama’s Power Africa initiative.

Making the announcement on the second day of the 1^st US-Africa Summit, World Bank Group President, Dr. Jim Yong Kim, said the new financial commitment was urgently needed to generate more electricity for the people of Africa, 600 million of whom have no access to electricity, despite the fact that Africa possesses some of the world’s largest hydropower, geothermal, wind and solar potential, as well as significant oil and natural gas reserves.

EBOLA: WORLD BANK GROUP MOBILIZES $200 MILLION EMERGENCY FUNDING TO FIGHT EPIDEMIC IN WEST AFRICA

WASHINGTON, August 4, 2014 – With the latest death toll from the West Africa Ebola epidemic now at 887, the World Bank Group pledged as much as US $200 million in emergency funding to help Guinea, Liberia, and Sierra Leone contain the spread of Ebola infections, help their communities cope with the economic impact of the crisis, and improve public health systems throughout West Africa.

World Bank Group President Dr. Jim Yong Kim, a medical doctor experienced in treatment of infectious diseases, said the new financing commitment was in response to a call from both the three African countries hardest-hit by Ebola and the World Health Organization (WHO) for immediate assistance to contain the outbreak.

FASTJET ADD THIRD FLIGHT TO DAR ES SALAAM - HARARE ROUTE IN RECORD TIME

Forward bookings for the twice-weekly flights are well ahead of management expectations and with the first flights from Zimbabwe already operating to full capacity, fastjet has decided to add a third rotation which will go on sale today.

“fastjet has responded to requests from Zimbabweans and Tanzanians asking for a direct route connecting these two cities with affordable, reliable flights,” said Ed Winter, Chief Executive Officer of fastjet. “Yesterday’s flight from Harare was fully booked, as is Saturday’s. With future bookings also looking strong we’ve decided to add a third rotation each Thursday which we expect to commence at the end of next month.”

FASTJET'S FIRST FLIGHT FROM DAR ES SALAAM TO HARARE TAKES OFF

Low-cost pan-African airline offers only direct air link between Tanzania and Zimbabwe

6 August 2014 – Fastjet’s inaugural flight between Dar es Salaam in Tanzania and Harare in Zimbabwe took off yesterday (5th August), marking the launch of the low-cost airline’s third international route across Africa, and the only direct air link between the two African capital cities.

Previously, those wishing to travel between Dar es Salaam and Harare had to spend at least two days travelling the approximately 2200km by road, or they had to fly via Nairobi in Kenya or Johannesburg in South Africa involving lengthy layovers.

The new route offered by fastjet provides a solution to this problem, with twice-weekly flights now flying between Harare International Airport in Zimbabwe and Dar es Salaam’s Julius Nyerere International Airport in Tanzania. No visas are required for citizens of the two countries for visits of less than 90 days.

fastjet flights depart Dar es Salaam at 19h25 and arrive in Harare at 20h55 on Tuesdays and Saturdays, with a flight time of two hours and 30 minutes. The return flight to Dar es Salaam departs Harare at 21h35, arriving at 01h00 the following morning. Dar es Salaam is one hour ahead of Harare.

NMB YAENDELEA KUTOA HUDUMA KWENYE MAONYESHO YA NANE NANE ARUSHA

Mteja akipata maelezo kuhusu huduma za NMB katika maonyesho ya Nane Nane mkoani Arusha.

Huduma mbali mbali ikiwemo ufunguzi wa NMB Chap Chap akaunti hupatikana katika banda la NMB kwenye maonyesho ya Nane Nane, Arusha. 

Mteja akisoma moja ya bidhaa mbali mbali katika maonyesho ya Nane Nane mkoani Arusha. 

Chap Chap Instant Account.

Mteja akifungua akaunti ya Chap Chap katika maonyesho ya Nane Nane mkoani Arusha.

PRESIDENT KIKWETE MEETS WITH IBM PRESIDENT, VIRGINIA M. GINNI ROMETTY AND CHAIRMAN OF THE BLOOMBERG PHILANTHROPIES, MICHAEL BLOOMBERG

President Jakaya Mrisho Kikwete shakes hands with Virginia M. Ginni Rometty, the Chairperson, President and Chief Executive Officer of IBM during a dinner hosted by the Chairman of the Bloomberg Philanthropies, Mr Michael Bloomberg, in Washington DC on Monday July 4, 2014. The Bloomberg Philanthropies are one of the major sponsors of the US-Africa Leadership Summit.

President Jakaya Mrisho Kikwete with the Chairman of the Bloomberg Philanthropies, Mr Michael Bloomberg, during a dinner in Washington DC on Monday July 4, 2014. The Bloomberg Philanthropies are one of the major sponsors of the US-Africa Leadership Summit.

Michuzi Blog

NAKUMATT INCHES CLOSER TO GOLDEN MILESTONE AS SECOND DAR ES SALAAM STORE OPENS ITS DOORS

Nakumatt holdings MD Atul Shah (left) guides Tanzania's Deputy Minister Hon. Janet Mbene (centre) on a tour of the new Nakumatt Mlimani as the retailer's Regional Director Mr Thiagarajan Ramamurthy looks on.

Regional retailer, Nakumatt Holdings, has officially opened its second, Dar Es Salaam, Tanzania, store as it inches closer to the opening of its 50th branch in coming days.

The opening of the 49th Nakumatt store this morning, is a major milestone for the retailer which had earlier set a corporate target to open 50 branches by February 2015.

Following its recent acquisition of three retail stores formerly owned by South African retailer Shoprite, Nakumatt, has now opened its 49th branch to be known as Nakumatt Pugu Road and is on course to open its 50th branch in Arusha, Tanzania in the next two weeks.

BENKI YA POSTA YAIPIGA TAFU TASWA FC

Kaimu Afisa Mtendaji Mkuu wa Benki ya Posta Tanzania (TPB), Moses Manyata (wa kwanza kushoto) akikabidhi mfano wa hundi kwa mwenyekiti wa Taswa SC, Majuto Omary (wa kwanza kulia) ikiwa sehemu ya benki hiyo kusaidia michezo nchini. Katikati ni Afisa Mawasiliano wa wa benki hiyo, Chichi Hilda Banda.

Kaimu Afisa Mtendaji Mkuu wa Benki ya Posta Tanzania (TPB), Moses Manyata (wa kwanza kushoto) akizungumza katika mkutano na waandishi wa habari kuhusiana na hatua ya benki hiyo kuisaidia timu ya waandishi wa habari za michezo nchini Taswa SC. Benki hiyo ilikabidhi hundi ya Sh milioni 2 na pia itasaidia jezi kwa timu ya mpira wa miguu na netiboli. Kulia ni Mwenyekiti wa Taswa SC, Majuto Omary.

Benki ya Posta Tanzania (TPB) imeidhamini klabu ya waandishi wa habari za michezo nchini (Taswa SC), kufuatia juhudi zake za kuhamasisha na kuendeleza michezo nchini.

Benki hiyo imeisaidia klabu hiyo fedha taslims sh. Milioni 2 na inatarajia kuwapa jezi seti moja moja kwa timu ya mpira wa miguu na mpira wa pete (netiboli) ikiwa ni kuthamini mchango wao Taswa SC katika sekta ya michezo nchini.

MORE PRESSURE ON STANDARD CHARTERED BANK CEO

Peter Sands, Standard Chartered CEO

Standard Chartered Chief Executive Officer Peter Sands, facing reports of disgruntled investors, is set to post the bank’s second straight drop in first-half profit Wednesday.

Bloomberg News reports that the bank, which makes about three-quarters of its earnings in Asia, may report first-half adjusted pretax profit of about $3.3bn, down 20% from $4.1bn a year earlier, based on the average of 11 estimates in a Bloomberg survey.

The bank flagged the profit drop on June 26 as Sands called the first half “disappointing,” sending the shares sliding.

BLOOMBERG VIEW: BANKING NEEDS AN APPETITE FOR RISK

Douglas Flint, the chairman of HSBC Holdings, Europe's biggest bank by market value, says excessive regulation is making bankers too risk-averse for their own, and their clients', good. There's nothing new about bankers squirming under regulatory pressure, but Flint's warning carries extra heft because of who he is -- and because of an unpleasant corollary to his observation: Growing risks outside the banking system.

WHAT CRISIS? EU RULES ON BANKS LAUDED AS RIGHT AFTER ALL

Portugal’s rescue ofBanco Espirito Santo SA may have eased some doubts about Europe’s banking industry by showing investors how the European Union’s thinking has evolved on handling failing lenders.

The decision shielding some creditors spurred a rally in bank stocks and Portuguese assets yesterday as it demonstrated authorities were able to shutter a bank without sparking a fresh bout of market tensions that have roiled Europe since 2009. Instead of forcing losses on unsecured depositors and other senior creditors, as was required of Cyprus, Portugal is following Spain’s gentler approach that focused losses on junior debt and stockholders.

“This is bad for the bank’s shareholders and creditors, but it’s good for the wider banking industry,” said Stefan Bongardt, a European banking analyst at Independent Research GmbH in Frankfurt. “Everyone knows the rules of the game now and that draws uncertainty out of the market.”

CAUGHT IN INDECISION, BULGARIAN GOVERNMENT IS URGED TO SOLVE BANKING CRISIS

Pressure is building on Bulgaria to deal with its worst banking crisis since the 1990s as the European Union and international investors have issued warnings about the fate of one of the country’s largest banks.

Bulgaria is struggling to find a solution for the ailing Corporate Commercial Bank, which has been closed since June after experiencing a run. On Friday, the European Commission urged Bulgaria to start repaying depositors as much as $2.5 billion that was insured by the state under European law.

THE FIRST DIASPORA HOMECOMING CONFERENCE: 14-15 AUGUST, 2014

The Tanzania Diaspora Conference, Expo & Gala Dinner 2014 is a unique conference put together by the Tanzania Diaspora Initiative in Conjunction with the Prime Minister’s Office (PMO).

What Is The Conference About?

Beginning 2014 the Tanzania Diaspora Initiatives’ Diaspora Homecoming will be every year in the month of August, host thousands of Tanzanians from the Diaspora who come home to spend summer vacation with their families and friends.

For this reason, in fostering Public, Private, Partnership (PPP) the Tanzania Diaspora Initiative aspires to work closely with the Government of the United Republic of Tanzania through the Prime Minister’s Office and the Ministry of Foreign Affairs and International Cooperation, to; promote, nurture and sustain a mutually beneficial relationship with the visiting Tanzanian Diaspora for national growth and development in all aspects.

A formal way of doing this is to create a forum, a formal structure, where all targeted stakeholders or through representation, the tribe Diaspora can engage in a
united front, amongst themselves, with government representatives, and private sector, with the aim of establishing an inclusive agenda for Diaspora to participate in national development.

This amazing event will encourage skilled Tanzanians in the Diaspora to return home.  The Conference and Expo will:

• Showcase jobs, property, schools, products, services, investments and  entrepreneurial opportunities in Tanzania
• Provide help, advice and information on making the move home and settling in.

This conference is the first of its kind to be held in the country.

The First Diaspora Meeting

The first DIASPORA HOMECOMING CONFERENCE will take place August 14 -15, 2014

Theme: Connect Engage Inform & Invest

Venue: Serena Hotel Dar es Salaam -Tanzania

This two-day conference at Serena Hotel seeks to bring together Tanzanians living in the Diaspora and returnees to a two day Business Investment Forum where stakeholders drawn from various sectors including the Government, Business Owners, Business Mentors & Advisors, Manufactures & Suppliers of Various Brands, Hoteliers, Real Estate Developers, Banking Institutions, Pension Schemes, Chief Executive Officers amongst others will converge to discuss challenges that they face in areas of investment and available opportunities.

The key objective is to create a One Stop Shop where the Diaspora can access information they need any time. The intention is to work with stakeholders with a common goal of creating a contact data bank where we know whom to talk to, where they live and what we can do together as Tanzanians.

Click here to read more.

PRESIDENT JAKAYA KIKWETE URGES TANZANIAN'S IN THE DIASPORA TO MAKE USE OF LOCAL FINANCIAL SERVICES

President Jakaya Kikwete addressing Tanzanian's living in the United States of America

Washington — THE Tanzanian Diaspora has been challenged to make full use of services offered by the various national pension funds, housing and financial institutions to purchase or venture into real estate back home.

Addressing Tanzanians living in Washington DC and neighbouring states on Saturday night, President Jakaya Kikwete, said the government had tried its best to put in place favourable conditions to enable Tanzanians, both at home and abroad, own decent houses.

He told the gathering that in life there is nothing like home and that every sensible person would at one point in lifetime wish to go back to his or her roots.

"I understand that lack of decent accommodation in Tanzania holds back some of you from going back home and much as you may wish to have houses, financial difficulties don't allow you to," he noted.

NATIONAL MICROFINANCE BANK TOUTS INCREASED FINANCING TO FARMING PROJECTS

NMB Agribusiness Manager, Mr Isaack Masusu

AS the climax of Farmers' Day (Nane nane) approaches, the National Microfinance Bank (NMB), has urged farmers to access variety of financing products and services designed to boost the sector.

Boosting agriculture productivity is among priorities that the NMB Bank has always sought to enhance and boost the sector's contribution to economic growth and lift millions of Tanzanians out of abject poverty. According to 2007 National Accounts Data, agriculture remains the mainstay of Tanzania's economy.

In value-added terms, agriculture generates 29 per cent of gross domestic product (GDP), industry 24 per cent and services 47 per cent. With only two years since it started financing the agricultural sector, its progress has been remarkable. The bank has managed to develop the right products and services to reach farmers of different categories.

The NMB Agribusiness Manager, Mr Isaack Masusu, said in an interview that the bank has selected few key commodities in some areas in order to be closer and serve farmers better.

For example, the bank has been focusing in enhancing knowledge and deepening understanding on efficient farming skills and this has proved to be the best way of improving productivity in the sector.

NMB IPO KARIBU YAKO KWENYE MAONYESHO YA NANE NANE

Maonyesho ya Wakulima ya Nane Nane yameanza nchi nzima na NMB kwa mara nyingine tena inashiriki kwa nguvu zote.

Tupo kwenye viwanja vya Nane Nane katika mikoa ya Lindi, ambapo maonyesho yanafanyika kitaifa, Dodoma, Mbeya, Arusha, Morogoro, Tabora na Bukoba.

CHALINZE MP, HON. RIDHIWANI KIKWETE, INAUGURATES A NEW LIBRARY AT CHALINZE SECONDARY SCHOOL

Chalinze MP, Hon. Ridhiwani Kikwete cuts a tape to inaugurate the new library at Chalinze Secondary School in Chalinze yesterday.

Chalinze MP, Hon. Ridhiwani Kikwete inspects the new library at Chalize Secondary School.

On 4 August 2014, the Chalinze community gathered at the Chalinze Secondary school to celebrate the launch of the new library. Ridhiwani Kikwete, MP of Chalinze, graced the event as its guest of honour who spoke in detail about the importance of reading and thanked the READ International volunteers for their energy, saying “We have no words to thank you enough”.

The new library at Chalinze Secondary school will support the 909 students to be able to access books for independent study and readers. The refurbishment of the library was funded by Tanga Cement Company Limited through its product, Simba Cement, and was carried out by 5 READ International volunteers as part of the Library Refurbishment Programme.  

EAC SECRETARIAT SHOWCASES AT RWANDA EXPO 2014

Arusha, Tanzania, 4 August, 2014: The East African Community Secretariat is among the over 75 foreign exhibitors showcasing various items at this year’s Rwanda International Trade Fair, popularly known as Rwanda Expo.

As part of the strategy to bring the regional integration agenda closer to the grassroots, the Secretariat is showcasing milestones of the EAC at the exhibition and explaining to the thousands of show-goers the benefits and challenges of the regional integration. The Secretariat’s Department of Corporate Communications and Public Affairs is rallying the Rwandan people to embrace EAC integration agenda under the theme; One People with One Destiny.

The 17th Rwanda Expo has attracted several high profile dignitaries including the newly appointed Prime Minister of the Republic of Rwanda, Rt. Hon. Anastase Murekezi, who visited the EAC stand and commended the Secretariat for what he termed “being at the right place at the right time”. The Rt. Hon. Prime Minister urged the Secretariat to reach out more to the ordinary citizens for them to be able to appreciate and participate in the integration process.

MKUU WA MKOA WA PWANI AZINDUA MRADI MPYA WA VIWANJA VYA PANGANI, KIBAHA

Mkuu wa Mkoa wa Pwani, Mh. Mwantumu Mahiza akikata Utepe kuashiria uzinduzi rasmi wa mradi mpya wa Viwanja vya Pangani Mjini Kibaha, Mkoani Pwani jana Agosti 4, 2014. Mradi huo Unaratibiwa na Kampuni ya Space & Development kwa Ufadhili wa Benki ya Rasilimali Tanzania (TIB Development Bank).

Mkuu wa Mkoa wa Pwani, Mh. Mwantumu Mahiza akiangalia maji yanayotoka kwenye Kisima kikubwa kilichopo ndani ya mradi huo ambacho kina uwezo wa kutoa lita elfu 10 kwa saa, ikiwa ni sehemu ya miundombinu iliyopo ndani ya mradi huo.

Mkuu wa Mkoa wa Pwani, Mh. Mwantumu Mahiza akizungumza na baadhi ya wadau (hawapo pichani) waliohudhuria kwenye hafla hiyo ya uzinduzi wa Mradi mpya wa Viwanja vya Pangani Mjini Kibaha, Mkoani Pwani jana Agosti 4, 2014. Mradi huo Unaratibiwa na Kampuni ya Space & Development kwa Ufadhili wa Benki ya Rasilimali Tanzania (TIB Development Bank).

Mkurugenzi Mkuu wa Benki ya Rasilimani nchini (TIB Development Bank), Peter Noni akizungumza machache juu ya namna walivyojitokeza kusaidia kuufanikisha mradi huo ikiwa ni pamoja na kusaidia maendeleo ya maeneo mbali mbali ndani ya Mkoa wa Pwani, wakati wa hafla ya uzinduzi wa Mradi mpya wa Viwanja vya Pangani Mjini Kibaha, Mkoani Pwani jana Agosti 4, 2014. 

Mkurugenzi Mkuu wa Kampuni ya Space & Development, Renny Chiwa akizungumza kwenye hafla hiyo iliyofanyika katika eneo la Pangani, Kibaha Mkoani Pwani.

Mkuu wa Mkoa wa Pwani, Mh. Mwantumu Mahiza akipongezana na Mkurugenzi Mkuu wa Benki ya Rasilimani nchini (TIB Development Bank), Peter Noni mara baada ya hotuba yake.

Picha ya pamoja.

Source: Michuzi Blog

WHAT WILL WARREN BUFFET DO WITH $50 BILLION IN CASH?

WARREN BUFFET WAITS ON FAT PITCH AS CASH HOARD TOPS $50 BILLION

Warren Buffet

Warren Buffett has never had so much money to spend.

Cash at his Omaha, Nebraska-basedBerkshire Hathaway Inc. (BRK/A) rose past $50 billion at the end of June, the first time it finished a quarter above that level since he became chairman and chief executive officer more than four decades ago.

The stock market hasn’t helped an investor who has said he likes to wait for the “fat pitch,” an opportunity to buy a company at a price promising favorable returns. Even after last month’s decline, the Standard & Poor’s 500 Index has almost tripledfrom its 2009 low. Berkshire’s size has also become a hindrance because few businesses are big enough to merit Buffett’s attention.

“I don’t think the list of his ‘fat-pitch’ companies is all that exhaustive,” said David Rolfe, who oversees $8.6 billion including Berkshire stock as chief investment officer of Wedgewood Partners Inc.

Buffett, 83, has struck some of his biggest deals in the last few years, adding to the earnings Berkshire already gets from operating businesses including auto insurer Geico and railroad BNSF, which was acquired in 2010. Second-quarter net income rose 41 percent to a record $6.4 billion, the company said in an Aug. 1 regulatory filing.

Click here to access the complete Bloomberg News article.

STANDARD CHARTERED AND HSBC - ITS THAT INTERNATIONAL TWOSOME AGAIN

For many in the City, the international banks HSBC andStandard Chartered will forever be linked.

They are both based in the UK, but do much of their business overseas, and just over 18 months ago they memorably teamed up to provide one of the most sensational 24 hours in banking(from a strong field).

First, Standard Chartered admitted paying £415m in penalties to US regulators in relation to allegations that it broke sanctions on Iran; and then HSBC was swiftly found to have operated a "pervasively polluted" culture that lasted for years, allowing it to move billions for Mexican drug lords, terrorists and governments on sanctions lists.

That all emerged in December 2012 – so is admittedly a little fresh for this page – but the banks will be thrown together again this week when both unveil interim results.

GOLDMAN SACHS HIRES FORMER BARCLAYS M&A HEAD, PAUL PARKER

Paul Parker, former head of Barclays mergers unit.

Goldman Sachs Group Inc. (GS), this year’s top-ranked takeover adviser, hired Paul Parker to be a co-chairman of its mergers and acquisitions group less than three months after he leftBarclays Plc. (BARC)

Parker, 51, served as global head of finance at London-based Barclays before being named to run the worldwide mergers and acquisitions in October. He decided to leave in May after a reorganization of the bank that prompted the departure of Hugh “Skip” McGee, who ran the business in the Americas.

At Goldman Sachs, Parker will be co-chairman of the M&A group with Tim Ingrassia and Jack Levy, Michael DuVally, a spokesman for the New York-based firm, said yesterday. The post is a senior position dealing directly with clients. Gregg Lemkau and Gene Sykes are the group’s global heads, running the business.

REGULATOR EXTENDS PROBE INTO RATE RIGGING AT DEUTSCHE BANK

Germany’s financial regulator, BaFin, is extending investigations into alleged interest-rate manipulation atDeutsche Bank, German magazine Der Spiegel reported.

Bloomberg News reports that BaFin mandated audit company Ernst & Young LLP to discover more about when Anshu Jain, the company’s co-chief executive officer, learned first about a potential manipulation of benchmark interest rates in the industry and at Deutsche Bank, Spiegel said, citing information from the mandate description.

The regulator defined 10 areas at which the auditors are supposed to take a closer look, with Jain being listed as a key person in six of them, according to Spiegel.

'Deutsche Bank has received subpoenas and requests for information from various regulatory and law enforcement agencies in Europe, North America and Asia Pacific in connection with industrywide investigations concerning the setting of London Interbank Offered Rate, Euro Interbank Offered Rate, Tokyo Interbank Offered Rate and other interbank offered rates', Regina Schueller, a spokeswoman for the bank, said in an e-mail. 'Deutsche Bank is cooperating with these investigations'.

To access the complete Bloomberg News article hit the link below:

Bafin Extends Deutsche Bank Libor Investigation, Spiegel Says

HSBC WARNS ON REGULATION AS EARNINGS FALL AGAIN

HSBC, Europe's largest bank by assets, posted another fall in pre-tax profit on Monday as the bank continues the second phase of its turnaround plan.

The bank reported a 12 percent fall in pre-tax profit to $12.34 billion for the first half of this year, which missed expectations of an 11 percent fall to $12.5 billion by analysts polled by the lender. This was lower than a figure of $14.1 billion in the same period last year and comes after it posted a 20 percent fall in pre-tax profit in the first three months of the year.

In Monday's statement, HSBC blamed the fall in profits on a series of asset sales last year that had boosted revenues in early 2013 as well as pointing the finger at increased regulation which it said was starting to take its toll. Shares were trading higher by 0.4 percent shortly after the release.

WIFE OF BANKER WHO ILLEGALLY MADE $1 MILLION FOR LOVE CHILD: "WE ALL MAKE MISTAKES"

Frank Hixon Jr. and his wife, Marguerite Lammot Lee, leave court.

She stood by her man — and it saved the disgraced ex-Wall Street investment banker from serving significant jail time.

Frank “Perk” Hixon Jr. admitted to insider trading to help support his love child — but he caught a huge break during his sentencing Friday when his scorned socialite wife begged a Manhattan federal judge to show her cheating hubby some leniency.

“When Perk told me the story of the child who is my step-daughter . . . I felt shocked, anger, grief,” Marguerite Lammot Lee said. “There was an obvious path open to me: Walk away. But it was clear, and it was clear to both of us, that we wanted to be together; we wanted to go forward together.

“We all make mistakes,” she added. “Some of us very big ones. But the measure of a man is what he does next; and Perk has worked hard to atone for those actions and to counter their burden on those most affected by them.”