China Citic Group, the overseas investment banking arm of the Chinese government, has announced its interest in acquiring a stake in Bear Stearns, the New York-based bank that has been severely hit by the troubles in the US subprime market. The interest highlights the growing ambitions of Chinese financial companies.

Committee for Economic Development highlights global imbalances while S&P scrutinises corporate default trends.

South-east Europe (SEE) is one of Europe’s fastest-growing and most profitable banking regions and looks set for continued strong growth.

Emerging markets specialist Standard Chartered has agreed to buy the banking unit of American Express (AEB) for about $860m, gaining branch licences in India and Taiwan and adding wealthy clients to its newly launched private banking operation. The acquisition will also double Standard Chartered’s dollar-clearing business.

Aite Group reports on US banks’ small business strategies while the Microfinance Information Exchange unveils benchmarks.

National Bank of Kuwait’s (NBK) winning tender bid last month to buy Egypt’s Al-Watany Bank for $516m reflects not only NBK’s regional expansion strategy but also growing confidence in the Egyptian banking system.

Taking advantage of clients’ demand for carbon neutral strategies, Simon Greenshields, managing director and global head of power at Morgan Stanley, will oversee the development of a “Carbon Bank” service.

HSBC has entered negotiations to buy a 51% stake in Korea Exchange Bank from US private equity group Lone Star for more than $5bn.

Wealth Report analyses rise of the HNWIs and KPMG Forensic reports on the rise in anti-money laundering costs.