MOSCOW: Morgan Stanley is planning to send a formal notice to the Russian central bank that it will close down its banking operations in the country in the first quarter of 2020, its Russian unit said in its annual report.
Morgan Stanley announced late last year that it was planning a voluntary shutdown of its banking business in Russia.The Wall Street bank's Russian subsidiary said in the report that U.S. and European Union sanctions imposed since 2014 had made it hard for Russian businesses to access international capital markets.
" impact of changes in the economy on the future results of the bank's business and its financial condition may turn out to be significant," the report said. Morgan Stanley will keep a consulting business in Russia, which would not require a license, according to the report.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hales showed 'lack of respect' for England team mates, says MorganEngland captain Eoin Morgan said Alex Hales' actions showed 'complete disregard' for values his team had built in recent years and confirmed it ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Biden says 'I am a union man,' at first 2020 campaign eventFormer U.S. Vice President Joe Biden officially kicked off his White House campaign on Monday by hosting a union event in Pittsburgh just hours after securing his first labor endorsement. Period,' Biden told the packed union hall. Among those who introduced Biden was Harold Schaitberger, the president
Source: YahooSG - 🏆 3. / 71 Read more »
PUB's Johor River Waterworks temporarily shut down in 7 pollution incidents since 2017: MasagosSINGAPORE: There have been seven pollution incidents along the Johor River since 2017 that caused PUB's Johor River Waterworks to be temporarily ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Germany shuts down criminal online trading platform, detains 3FRANKFURT (REUTERS) - German investigators have shut down the world's second largest criminal online trading platform and detained three German men suspected of running it, the Frankfurt public prosecutor's office said on Friday (May 3).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
German police shut down major 'darknet' illegal trading siteGerman police have shut down one of the world's largest illegal online markets in the so-called darkweb and arrested the three men allegedly ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Ford reaches agreement with workers at Brazilian plant it plans to shut downFord Motor Co said on Tuesday it had reached an agreement with the workers' union at a historic Brazil plant it plans to shutter by the end of the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
German police shut down major 'darknet' illegal trading siteGerman police have shut down one of the world's largest illegal online markets in the so-called darkweb and arrested the three men allegedly ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Germany shuts down 'Darknet' criminal trading platform, detains threeFRANKFURT: German investigators have shut down the world's second largest criminal online trading platform and detained three German men suspected ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alphabet first-quarter revenue misses estimatesGoogle-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue on Monday, amid increased scrutiny on the company's privacy ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Merck's first-quarter profit beats on Keytruda boostMerck & Co Inc reported a higher-than-expected first-quarter profit on Tuesday and raised its earnings and sales forecasts for the year, thanks to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Cryptocurrency thefts, fraud hit US$1.2 billion in first quarter - reportLosses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to US$1.2 billion, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »