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US says banks won't be punished for lawful business in Iran

US says banks won't be punished for lawful business in Iran

US Secretary of State John Kerry tried today to reassure European banks they won't be penalised for conducting or facilitating business with Iran, as he worked to address Tehran's grievance that businesses are still staying away despite the nascent nuclear deal.

Too early for India to replace China as global engine: BNP

Too early for India to replace China as global engine: BNP

India is quietly assuming the mantle of fastest-growing major emerging-market economy, but it is too small on economic parameters to replace China as a new global growth locomotive, a new report says.

BNP Paribas acquires Sharekhan for about Rs 2,000-crore

French banking giant BNP Paribas on Thursday acquired homegrown brokerage firm Sharekhan in an estimated Rs 2,000 crore deal, as it seeks to expand retail broking operations here.

BNP Paribas sees ideal conditions for 0.25% rate cut on June 2

Stating that conditions are ideal for rate cut, French brokerage BNP Paribas on Thursday said a 0.25 percent reduction can help discussions between the central bank and the Finance Ministry on setting up of inflation targeting panel.

Stake dilution in SBI Life to be finalised in 3-4 months

It is believed that the foreign partner is most likely to increase its stake in the leading life insurance firm promoted by the country's largest lender State Bank of India (SBI).

US orders BNP Paribas to pay USD 8.9 bn in Iran sanctions case

 A US judge today ordered BNP Paribas to pay a record USD 8.9 billion fine to settle violations of US sanctions linked to Iran and other countries.

Sundaram BNP Paribas to raise Rs 2,500 cr this fiscal

City-based Sundaram BNP Paribas Home Finance, the home finance subsidiary of Sundaram Finance Ltd, is looking at raising funds worth Rs 2,500 crore this fiscal as part of its expansion plans.

BNP Paribas Q1 profit rises 17.5 pct as euro zone loan demand revives

Boosted by firm investment banking activity, France's biggest bank reported net income of 1.648 billion euros ($1.83 billion), up from 1.403 in the first three months of 2014.

Adani dismisses French banks' Australia coal project snub

India's Adani Group on Thursday brushed aside a decision by three leading French banks not to fund huge coal industry projects in Australia`s Galilee Basin near the Great Barrier Reef, saying it had "no bearing" on the company.

Despite US fine, BNP Paribas turns 2014 profit

BNP Paribas surmounted the 6.6 billion euro (USD 8.9 billion) fine imposed by US authorities to post profits in 2014, the French bank said today, but warned tightening business conditions could undermine future results.

BNP Paribas surprises with Q3 profit boost, shares rise

French bank BNP Paribas surprised investors with a sharp rise in third-quarter net profit on Friday, sending its shares up more than 2.0 percent.

BNP Paribas chairman Baudoin Prot resigns

The chairman of BNP Paribas has resigned, some three months after the French bank was hit by a record $8.9 billion fine for violating US sanctions, the bank said.

BNP Paribas chairman Baudouin Prot to resign: Source

The chairman of BNP Paribas plans to resign in the aftermath of the French bank`s record $8.9 billion fine for violating US sanctions, a person familiar with the matter said Tuesday.

BNP Paribas to pay $80 million for defrauding US Agriculture Dept

A vice president of BNP Paribas, Jerry Cruz, pleaded guilty in 2012 to receiving bribes from the exporters.

Asian stocks hit three-year peak on upbeat US data

Asian shares rose to a three-year peak on Friday and the dollar held near its overnight highs after U.S. jobs data which showed the lowest unemployment rate in six years and underscored the strength of the economic recovery.

US imposes record fine on BNP in sanctions warning to banks

French bank BNP Paribas has pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve accusations it violated U.S. sanctions against Sudan, Cuba and Iran, a severe punishment aimed at sending a clear message to other financial institutions around the world.

India link emerges in $8.9-bn BNP Paribas settlement in US

BNP Paribas has a presence in 75 countries, including in India, with more than 180,000 employees and its businesses include retail, corporate and investment banking.

BNP Paribas to pay a record $8.97 bn in penalties to US

The plea agreement provides that BNPP will pay total financial penalties of USD 8.97 billion, including forfeiture of USD 8.83 billion and a fine of USD 140 million.

Oil prices down in Asian trade

Oil prices eased in Asia Monday on softer US demand, but tensions in the Middle East where jihadists have declared an Islamic state straddling Iraq and Syria will likely keep prices high, analysts said.

BNP Paribas chief concedes bank faces 'severe' punishment

The head of BNP Paribas has conceded the bank will be "punished severely" ahead of what is expected to be a multi-billion dollar fine for breaching US economic sanctions.