First Fully Islamic Bank Opens in Britain
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Britain opened its first bank on Wednesday that promises to fully abide by Sharia, or Islamic, law, meaning it won't give or receive interest, and will invest only in ethical industries, a guideline that bars alcohol and tobacco companies.
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The Bank of England on Friday provided emergency financial support to the first major British bank to be severely hit by the credit crunch sparked by the US home loan crisis.
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The UK's first specialist drug and alcohol court is due to open in London.
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Blyk, the world&#39;s first fully  advertising-funded mobile telecoms operator, launched in  Britain on Monday in what is seen as a major test of the  potential of advertising on mobile phones.
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SEOUL: Global banking giant HSBC has agreed to buy Korea First Bank in a deal which will put the British bank in competition with its US rival Citigroup in the world&#39;s 11th largest economy, a source said yesterday.
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New York's first publicly-funded Arabic-language school opened on Tuesday, defying critics who warned it could foster anti-American Islamist extremism.
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The UK's first stand-alone Islamic High Street bank,  aimed at the UK's 1.8 million Muslims opens in London on Wednesday.
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The firm is bringing its style of banking to new high-growth markets.
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Business & money: Bank working to raise around Â£10bn from the Chinese and Singapore governments.
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A consortium led by Royal Bank  of Scotland  has launched a 71.1 billion euro ($95.9  billion) bid for Dutch group ABN AMRO, trumping Britain&#39;s  Barclays in a battle for the world&#39;s biggest bank takeover.
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The number of mortgages approved in the UK rises for the first time since May last year, says the Bank of England.
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Prime Minister Lawrence Gonzi yesterday morning inaugurated the new premises of AM Mangion Limited at Luqa industrial estate.
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The Bank of England acts to ease the credit crunch hitting financial markets, allowing banks to deposit more funds with it.
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HONG KONG Cheung Kong (Holdings) and Dubai Islamic Bank said Wednesday that they had set up a $450 million Islamic property trust, the first such fund in Asia.
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MANAMA : Kuwait Finance House (KFH) Bahrain, a subsidiary of Kuwait&#39;s first Islamic bank, announced plans to develop a 1.3-billion-dollar combined petrochemical, power and water generation complex in this tiny Gulf kingdom.
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Business & money: Alliance & Leicester and Britannia building society double minimum deposit from first-time buyers
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Urban Trust Bank opened its doors yesterday, its backers confident that a minority focus and a well-heeled founder will help it stand out in a competitor-clogged Washington banking market.