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Business

Standard Chartered to pay US$1.1b for sanctions violations

WASHINGTON: Standard Chartered Plc has agreed to pay US$1.1 billion to U.S. and British authorities for conducting illegal financial transactions that violated sanctions against Iran and other countries, government authorities announced on Tuesday.

Business

US extends scrutiny of Standard Chartered bank on sanctions compliance

Standard Chartered will face another three years of scrutiny by U.S. prosecutors for compliance with government sanctions against certain countries, according to documents filed on Tuesday that also noted another probe of the bank is underway.

Business

Standard Chartered says US-China trade war impact ‘limited'

HONG KONG: Standard Chartered Plc, one of the biggest financiers of global trade, isn’t losing sleep over an increasingly fractious relationship between the world’s two largest economies.

Business

Standard Chartered hires ex-U.S. prosecutors amid sanctions probe

ST. LOUIS: Standard Chartered Plc has hired two former prosecutors to police its transactions for criminal activity, a spokesman said on Friday, as the British bank wrestles with a series of legal and compliance problems.

Business

Standard Chartered to cut 15,000 jobs, raise US$5.1bil

LONDON: Standard Chartered Plc said it will cut 15,000 jobs and raise £3.3bil (US$5.1bil) in a rights offer after posting a surprise loss as loan impairments in India soared. Shares of the lender plunged.

Athletics

Khairy’s first to sign-up for Standard Chartered KL Marathon

KUALA LUMPUR: Youth and Sports Minister Khairy Jamaluddin has shown that he is truly a man of action by becoming the first person to register for this year’s Standard Chartered KL Marathon.

Business

Standard Chartered fined $133mil by Britain's financial watchdog

Standard Chartered Plc said on Wednesday Britain's financial watchdog has imposed a fine of 102.2 million pound ($133.3 million) in relation to its investigation into the bank's historical financial crime controls.

Business

Standard Chartered profit misses estimates

LONDON: Standard Chartered Plc reported third-quarter profit that fell short of analyst estimates as revenue fell at all four of its divisions.

Business

Standard Chartered sees $330m settlement on Iran, denting profits

HONG KONG: Standard Chartered expects to pay $330 million to settle a case with U.S. regulators who accused the Asia-focused bank of failing to comply with sanctions against Iran, further denting profit growth this year.

TECH

Standard Chartered to apply for virtual banking licence in Hong Kong

Standard Chartered plans to apply for “virtual banking” licence in Hong Kong, the emerging market-focused lender said on June 11, amid a rush by global banks to boost their digital presence to attract more young customers.