SocGen Lebanon unit finalises Lebanese Canadian Bank acquisition

The Lebanese subsidiary of Societe Generale said it won final approval from the Central Bank to acquire the assets and liabilities of Lebanese Canadian Bank (LCN), raising its total assets to $11 billion.

The acquisition by Societe Generale de Banque au Liban (SGBL) was prompted by a U.S. decision to ban LCB from dealing in dollars because of accusations it was involved in money laundering and drug trafficking. (more…)

8 Americans, 4 Canadians killed in Afghanistan

An attack by a suicide bomber at a military base in eastern Afghanistan on Wednesday killed eight Americans believed to be CIA employees, a senior U.S. official told CNN.
Also Wednesday, four Canadian soldiers and a Canadian journalist were killed when a roadside bomb hit their armored vehicle in southern Afghanistan, Canada’s defense ministry said. CNN