InfoAnda - Germany's Hypo Real Estate will survive: CEO

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Seoul shares open lower; techs retreat | 20 July 2010
Not Useful: Certain Hand Sanitizers Found To Contain High Levels Of Disease-Causing Bacteria | 10 June 2009
Singer Badu causes stir with nude video at JFK site | | 31 March 2010

US-TECH Summary | 16 August 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Germany's Hypo Real Estate will survive: CEO

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Germany's Hypo Real Estate will survive: CEO AFP - Monday, March 30 BERLIN (AFP) - - Germany's stricken Hypo Real Estate bank will survive, its head insisted Sunday, after the government said it would take an 8.7 percent stake in the lender as the first step towards full nationalisation. ADVERTISEMENT Speaking a day after unveiling a net 2008 loss of 5.46 billion euros (7.26 billion dollars), chief executive Axel Wieandt hailed the state's decision to buy 20 million HRE shares for 60 million euros as "good news." "With the proposed long-term liquidity and capital support, the Federal Republic ... has put in place the necessary requirements for HRE to continue," Wieandt said in a conference call. "We welcome this step. It is in the interests of the company and clearly good news," he added. The purchase of HRE shares -- at the minimum legal price of three euros per share -- is an "important signal, an important first step," he said. The chief executive said the state's backing would allow HRE "to again successfully act in the markets" as it reduces the amount the bank has to pay for refinancing costs. The German government eventually intends to gain full control over the troubled mortgage lender, which has been hammered by the global financial crisis and seen its share price plunge by over 90 percent over the past year. Berlin is concerned that a collapse of HRE could have catastrophic consequences similar to those sparked by the bankruptcy of US investment bank Lehman Brothers in September, which rocked financial markets worldwide. Chancellor Angela Merkel has described the ploughing of billions of euros of taxpayers' cash into the bank as an emergency but necessary step to prevent contagion spreading throughout Germany and beyond. "The stabilisation and rescue of HRE must succeed. It is in everyone's interests," the chief executive stressed. But he refused to speculate on when the government might take further stakes in the bank. HRE has already benefited from more than 100 billion euros in private and public aid to keep it afloat. Turning to the lender's present difficulties, Wieandt acknowledged that the bank expected to be "in a loss situation for at least the next two years." "Nevertheless, we see our medium-term strategic prospects as positive," he said. Germany's lower house of parliament, the Bundestag, last week approved a controversial law allowing the state to nationalise HRE, in a hostile takeover if necessary but only as a last resort. The law, which brings back painful memories in Germany of Nazi expropriations of Jewish firms in the 1930s and Soviet seizures in East Germany during the Cold War, is set to be adopted formally on April 3. The proposed legislation would enable Berlin to seize the shares of US investor Christopher Flowers, who heads a consortium that owns 24 percent of HRE. Citing potential conflicts of interest, Flowers resigned from HRE's supervisory board Friday. He has said he wants to keep his holding and warned that the emergency law will damage Germany's reputation among foreign investors. Wieandt refused to comment on the state of negotiations between Flowers and the finance ministry. However, he said the company's plans for lay-offs as a result of its difficulties would be "unchanged." In December, HRE unveiled drastic measures to stave off collapse, saying it would slash its workforce by almost half in three years. "The number of employees will go from some 1,800 to about 1,000 over the next three years," the bank said, with two-thirds of the axed jobs outside Germany. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo The Hypo Real Estate logo is displayed at its headquarter in Munich, 2008. Germany's stricken Hypo Real Estate bank will survive, its head insisted, after the government said it would take an 8.7 percent stake in the lender as the first step towards full nationalisation. Most Popular – Top Stories Viewed Hot tea linked with throat cancer Prince William up for Afghanistan fight: report Scientists see asteroid hurtle to Earth Peugeot board sacks boss Streiff Pope 'publicly distorted' condom science: Lancet View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Monday, 30 March 2009
U.S. seeks support on Afghan plans at Hague forum | International |
Karzai to stay Afghan president till August polls | International |
Indian Ocean island votes to become fully French | International |
Action video games sharpen eyesight: U.S. study | Technology |
New technologies coming to Web start-ups' rescue | Technology |
'Monsters vs. Aliens' fuels booming box office | Entertainment |
Palestinian orchestra shut over Holocaust concert | Entertainment |
U.S. deploys anti-missile ships before North Korea launch | International |
Israel's Netanyahu to present govt Tuesday: Likud
Thirty years on, Khmer Rouge torturer in dock | International |
US-backed Iraqi troops quell Baghdad uprising
Militants storm Pakistani police center | International |
Obama vows no hot US troop pursuit into Pakistan
U.S. seeks support on Afghan plans at Hague forum | International |
GM chief to quit under Obama auto plan
Kenyan police abuse Somali refugees: rights group | International |
US envoy: Don't expect warmer relations with Iran
Prince William up for Afghanistan fight: report
Foe of pro-Moscow Chechnya leader shot in Dubai: reports | International |
Israel: Militants smuggled tons of weapons to Gaza
Madonna in Malawi for second adoption
Hamas leader gives unity talks a strong chance | International |
Peugeot board sacks boss Streiff
Fidel Castro criticizes Biden for embargo support | International |
Obama plans to stick to Iraq withdrawal timetable
$135 bln remains from bank bailout fund: Geithner
Pentagon chief favors sanctions to press Iran | International |
Obama rules out US troops in Pakistan
Sudan's Beshir travels to Doha, defying warrant
Germany's Hypo Real Estate will survive: CEO
Obama envoy: China too must fight global warming
Skype announces service for iPhone, BlackBerry | Technology |
Eight killed in attack on US nursing home
Britain to start Iraq pullout on Tuesday
NDakota fights levee erosion amid record floods
Action video games sharpen eyesight: U.S. study
Obama rules out US troop raids into Pakistan
Gates says US can do nothing about NKorean missile
Central America to US: Slow deportations
Indian Ocean former colony votes to become French
Thousands march in Spain against abortion reforms
Madonna appears in Malawi court in adoption bid | Entertainment |
Fox News' Bill O'Reilly boycotting Sean Penn films | Entertainment |
ABC, Survivor producer launch bailout program | Entertainment |
Prince battles sound problems on one-night tour | Entertainment |
Kathy Bates on Blind Side team | Entertainment |
Fox eyes dating show for average-looking people | Entertainment |
Wrestling star Cena is dead weight in 12 Rounds | Entertainment |
Thai PM avoids office on 5th day of protests
Eric Bana loves his car, moviegoers won't | Entertainment |
Hong Kong columnist attacked for 'racist' article
Office gearing up for fall syndication launch | Entertainment |
U.S. deploys anti-missile ships
Thai police warn protesters on 5th day of blockade
Monsters vs. Aliens fuels booming box office | Entertainment |
Malaysia police seize opposition election DVDs
Gunmen storm Pakistan police academy
S.Korea c/a surplus 11-yr high as exports rise
Sri Lanka says 39 rebels killed in fighting
S.Korean won tumbles as stocks fall across region
Soldier stabbed outside army barracks in SW China
Taiwan dollar down sharply after stocks extend losses
Sri Lanka military says 39 rebels killed battles
Seoul shares fall 3.2 pct hit by banks, auto woes
Indonesia steps up search for dam burst survivors
China energy arm plans to up nuclear capacity
Fox eyes dating show for "average-looking" people
China's Chalco says loss expected in Q1
ABC, "Survivor" producer launch bailout program
"Office" gearing up for fall syndication launch
Seoul shares fall 3 pct as banks, carmakers drop
Prince battles sound problems on one-night tour
Korea Hot Stocks
Eric Bana loves his car, moviegoers won't
AU, Chi Mei seek tie-ups with Chinese firms -paper
Wrestling star Cena is dead weight in "12 Rounds"
S.Korea sees $3.5 bln property-linked problem loans
Actor Tim Allen greets his 2nd child, Elizabeth
Kathy Bates on "Blind Side" team
Ukraine cafe glorifies anti-Soviet fighters
Following atheist trend, Britons seek 'de-baptism'
Turkish government poll setback weakens markets
No early exit from Afghanistan: NATO chief | International |
Afghan suicide blast kills nine: government
Israel's Netanyahu pledges to seek Middle East peace | International |
Bicycle bomb kills 3 in north Iraq's Baquba
Kurd voters stress on identity frustrates Turkish PM | International |
Israel's Netanyahu readies to present cabinet
World stocks plummet as auto sector reels
Sudan's Bashir urges Arab support against warrant | International |
Afghan suicide blast kills eight: police
100,000 secular Britons seek 'de-baptism'
Southern Africa summit seen suspending Madagascar | International |
Israeli Railways fires Arabs workers
India appoints lawyer for accused Mumbai attacker | International |
Suicide bomber kills three Pakistan soldiers
Five Britons arrested ahead of G20 London protests | International |
Medvedev hopeful ahead of meeting with Obama
Google launches free, legal music downloads in China | Technology |
US sergeant convicted of executing Iraqi prisoners
Skype to launch service for iPhone, BlackBerry
Fujitsu commits to servers despite potential Sun deal | Technology |
Google launches free, legal music downloads in China
Fujitsu aims to double PC server sales in 2 yrs
US sergeant convicted of executing Iraqi prisoner
Fujitsu aims to double PC server sales in 2 yrs | Technology |
US won't hunt militants over Pakistan border: Obama
Hong Kong defers on Mugabe immunity in attack
Malawi court to rule on Madonna adoption bid Friday | Entertainment |
19 die in bloody siege at Pakistan police academy
Filipino militants set time for hostage beheading
Hollywood's top music composer Maurice Jarre dies
China cracks down in Muslim west
Four 'terrorists' killed at Pakistan police academy
Ex-rebel leader attacked ahead of Aceh elections
NKorea holding SKorean worker at joint factory
Japan's industrial production falls 9.4 percent
Credit crunch impairs theaters' digital vision | Entertainment |
Pakistani commandos end siege
Japanese automakers worry about GM, Chrysler
Fox News' Bill O'Reilly boycotting Sean Penn films
Long-delayed Khmer Rouge genocide trial opens
DEALTALK-Western stakes in S.Korea banks eyed amid sell-downs
US-ENTERTAINMENT Summary
Hit writer Bob Gaudio honored at Nashville show
Taiwan defends trade pact with China
T.S. Eliot nixed Orwell's 'Trotskyite' Animal Farm
Seoul shares drop 3 pct amid auto woes, won weighs
Hollywood's top music composer Maurice Jarre dies
Elbit Systems wins Korea Aerospace contract
Maurice Jarre, composer of "Zhivago" score, dies
China Minmetals still discussing Oz Minerals deal
Madonna's adoption ruling delayed until Friday
Maurice Jarre, composer of Zhivago score, dies | Entertainment |
Credit crunch impairs theaters' digital vision
Islamic party holds huge election rally in Jakarta
Grenade damages home of Indonesian party leader
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01