Saturday, March 13, 1999
Japan announces huge bailout plan for top banks
Japan government's financial reconstruction commission (FRC) today approved requests from 15 major banks for a total 7,46 trillion yen ($62 billion) in public funds to help clean up the bad loan-ridden financial system, officials said.
Paribas spurns BNP's proposal to join in bank-merger pact
Paribas SA's supervisory board rejected Banque Nationale de Paris SA's takeover bid, saying it would lead to a dismantling of the French bank, and said it intends to forge ahead with its plans to merge with Societe Generale SA.
Hong Kong gold ends lower after dollar recovers
Hong Kong spot gold ended lower on Friday in quiet trading after currency-linked Japanese selling and selling by Australian producers, dealers said.
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