#AceFinanceNews – October 10 – The fear of Ebola is already starting to affect economies, the president of the World Bank said on Thursday.
In some countries, for example, people are already refusing to clean planes for fear of contracting the virus.
The World Bank has estimated the cost to Africa alone at some $32.6 billion.
“What we’ve seen, the so-called aversion behaviour … the $32.6 billion is not because of the virus itself, 80 to 90 percent of that is the aversion behaviour, the stop in productivity, people don’t go to work, kids don’t go to school, there’s no flights coming in, trade slows down,” Kim said in a CNBC interview.
#AceFinanceNews says that `Standard Chartered Bank ‘is seeking to sell about six units in Asia, Europe and the Middle East, the Wall Street Journal reported Tuesday citing people familiar with the matter.
The Asia-focused bank is in “advanced talks” to offload Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, the WSJ said, but gave no details of any potential buyer.
A company spokeswoman declined to comment on the report.
The newspaper added that the divestment’s were “mostly small” and would also comprise Standard Chartered’s Lebanese retail bank, its Hong Kong consumer-finance business PrimeCredit, its German consumer bank and its Swiss private bank.
According to the WSJ, the deals are part of the bank’s efforts to combat an emerging markets slowdown and worries about its financial health.
Standard Chartered will publish its annual results on Wednesday.
The London-based bank generates 90 percent of its profit in Asia, the Middle East and Africa.