1.
Bilbao
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Bilbao is a city in northern Spain, the largest city in the province of Biscay and in the Basque Country as a whole. Bilbao is the tenth largest city in Spain, with a population of 345,141 As of 2015, Bilbao is also the main urban area in what is defined as the Greater Basque region. Bilbao is situated in the part of Spain, some 16 kilometres south of the Bay of Biscay, where the economic social development is located. Its main urban core is surrounded by two mountain ranges with an average elevation of 400 metres. This was due to its port activity based on the export of iron extracted from the Biscayan quarries, at the same time an extraordinary population explosion prompted the annexation of several adjacent municipalities. The official name of the town is Bilbao, as known in most languages of the world, there is no consensus among historians about the origin of the name. Generally accepted accounts state that prior to the 12th century the independent rulers of the territory, the symbols of their patrimony are the tower and church used in the shield of Bilbao to this day. One possible origin was suggested by the engineer Evaristo de Churruca and he said that it was a Basque custom to name a place after its location. For Bilbao this would be the result of the union of the Basque words for river and cove, the historian José Tussel Gómez argues that it is just a natural evolution of the Spanish words bello vado, beautiful river crossing. On the other hand, according to the writer Esteban Calle Iturrino, the first, where the present Casco Viejo is located, would be called billa, which means stacking in Basque, after the configuration of the buildings. The second, on the bank, where now Bilbao La Vieja is located, would be called vaho. From the union of these two derives the name Bilbao, which was written as Bilvao and Biluao, as documented in its municipal charter. An -ao ending is present in nearby Sestao and Ugao. Titles Bilbao holds the historic category of borough, with the titles of «Very noble and very loyal and it was the Catholic Monarchs who awarded the title «Noble borough» on 20 September 1475. Philip III of Spain, via a letter in 1603 awarded the borough the titles of «Very noble, after the Siege of Bilbao, during the First Carlist War, on 25 December 1836, the title of «Unbeaten» was added. Remains of an ancient settlement were found on the top of Mount Malmasín, burial sites were also found on Mounts Avril and Artxanda, dated 6,000 years old. Some authors identify the old settlement of Bilbao as Amanun Portus, cited by Pliny the Elder, or with Flaviobriga, ancient walls, which date from around the 11th century, have been discovered below the Church of San Antón. On 21 June 1511, Queen Joanna of Castile ordered the creation of the Consulate of Bilbao and this would become the most influential institution of the borough for centuries, and would claim jurisdiction over the estuary, improving its infrastructure
2.
Bolsa de Madrid
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Bolsa de Madrid is owned by Bolsas y Mercados Españoles. The reorganisation of Spains financial market under the umbrella of the Spanish Stock Market includes the bolsas, the derivatives markets. Trading is linked through the electronic Spanish Stock Market Interconnection System, the IBEX35 Index is a capitalization-weighted index comprising the 35 most liquid Spanish stocks traded in the continuous market, and is Bolsa de Madrids benchmark. Bolsa de Madrid also offers the FTSE-Latibex Index, a European market for Latin American stocks, the Ibex New Market Index, for emerging companies, was offered from 2000 to 2007. Trading on SIBE is conducted from 9 a. m. to 5,30 p. m. open outcry from 10a. m. to 11,30 a. m. both Monday through Friday The Bolsa de Madrid was officially founded in 1831. In 1993, the Bolsa de Madrid switched to all-electronic trading for fixed-income securities. As required by Spanish law, it is managed and operated by the Sociedad Rectora de la Bolsa de Valores de Madrid S. A. a corporation organized under the laws of the Kingdom of Spain. The membership of the Madrid Stock Exchange consists of 41 major financial institutions and 12 established securities dealers, at December 31,2001, approximately 1477 domestic and foreign companies had their equity securities listed on the Madrid Stock Exchange. The total market capitalization of the equity securities listed on the Madrid Stock Exchange in May,2007 was €1,276.26 billion and it is housed in a historic nineteenth-century building, the Palacio de la Bolsa de Madrid. Madrid Stock Exchange General Index Official website
3.
New York Stock Exchange
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The New York Stock Exchange, is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the worlds largest stock exchange by market capitalization of its companies at US$19.3 trillion as of June 2016. The average daily trading value was approximately US$169 billion in 2013, the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007, the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists, previously, it was part of NYSE Euronext, which was formed by the NYSEs 2007 merger with Euronext. NYSE and Euronext now operate as divisions of Intercontinental Exchange, the NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation. The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement, previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms, after sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance. Several locations were used between 1817 and 1865, when the present location was adopted, the invention of the electrical telegraph consolidated markets, and New Yorks market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Civil War greatly stimulated speculative securities trading in New York, by 1869 membership had to be capped, and has been sporadically increased since. The latter half of the century saw rapid growth in securities trading. Securities trade in the nineteenth and early twentieth centuries was prone to panics. The Stock Exchange Luncheon Club was situated on the floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building. The NYSE announced its plans to merge with Archipelago on April 21,2005, NYSEs governing board voted to merge with rival Archipelago on December 6,2005, and became a for-profit, public company. It began trading under the name NYSE Group on March 8,2006, Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, the principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE, presently, the chairman is Jeffrey Sprecher
4.
Spain
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By population, Spain is the sixth largest in Europe and the fifth in the European Union. Spains capital and largest city is Madrid, other urban areas include Barcelona, Valencia, Seville, Bilbao. Modern humans first arrived in the Iberian Peninsula around 35,000 years ago, in the Middle Ages, the area was conquered by Germanic tribes and later by the Moors. Spain is a democracy organised in the form of a government under a constitutional monarchy. It is a power and a major developed country with the worlds fourteenth largest economy by nominal GDP. Jesús Luis Cunchillos argues that the root of the span is the Phoenician word spy. Therefore, i-spn-ya would mean the land where metals are forged, two 15th-century Spanish Jewish scholars, Don Isaac Abravanel and Solomon ibn Verga, gave an explanation now considered folkloric. Both men wrote in two different published works that the first Jews to reach Spain were brought by ship by Phiros who was confederate with the king of Babylon when he laid siege to Jerusalem. This man was a Grecian by birth, but who had given a kingdom in Spain. He became related by marriage to Espan, the nephew of king Heracles, Heracles later renounced his throne in preference for his native Greece, leaving his kingdom to his nephew, Espan, from whom the country of España took its name. Based upon their testimonies, this eponym would have already been in use in Spain by c.350 BCE, Iberia enters written records as a land populated largely by the Iberians, Basques and Celts. Early on its coastal areas were settled by Phoenicians who founded Western Europe´s most ancient cities Cadiz, Phoenician influence expanded as much of the Peninsula was eventually incorporated into the Carthaginian Empire, becoming a major theater of the Punic Wars against the expanding Roman Empire. After an arduous conquest, the peninsula came fully under Roman Rule, during the early Middle Ages it came under Germanic rule but later, much of it was conquered by Moorish invaders from North Africa. In a process took centuries, the small Christian kingdoms in the north gradually regained control of the peninsula. The last Moorish kingdom fell in the same year Columbus reached the Americas, a global empire began which saw Spain become the strongest kingdom in Europe, the leading world power for a century and a half, and the largest overseas empire for three centuries. Continued wars and other problems led to a diminished status. The Napoleonic invasions of Spain led to chaos, triggering independence movements that tore apart most of the empire, eventually democracy was peacefully restored in the form of a parliamentary constitutional monarchy. Spain joined the European Union, experiencing a renaissance and steady economic growth
5.
Insurance
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Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, an entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder, the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the policy is called the premium. If the insured experiences a loss which is covered by the insurance policy. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c.1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the guarantee to cancel the loan should the shipment be stolen. At some point in the 1st millennium BC, the inhabitants of Rhodes created the general average and this allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to any merchant whose goods were jettisoned during transport. Separate insurance contracts were invented in Genoa in the 14th century, the first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks. These new insurance contracts allowed insurance to be separated from investment, Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed. Property insurance as we know it today can be traced to the Great Fire of London, initially,5,000 homes were insured by his Insurance Office. At the same time, the first insurance schemes for the underwriting of business ventures became available, by the end of the seventeenth century, Londons growing importance as a center for trade was increasing demand for marine insurance. These informal beginnings led to the establishment of the insurance market Lloyds of London and several related shipping, the first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot, edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762. In the late 19th century, accident insurance began to become available and this operated much like modern disability insurance. The first company to offer accident insurance was the Railway Passengers Assurance Company, by the late 19th century, governments began to initiate national insurance programs against sickness and old age
6.
IBEX 35
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The IBEX35 is the benchmark stock market index of the Bolsa de Madrid, Spains principal stock exchange. Initiated in 1992, the index is administered and calculated by Sociedad de Bolsas, a subsidiary of Bolsas y Mercados Españoles and it is a market capitalization weighted index comprising the 35 most liquid Spanish stocks traded in the Madrid Stock Exchange General Index and is reviewed twice annually. Trading on options and futures contracts on the IBEX35 is provided by MEFF, between 2000 and 2007, the index outperformed many of its Western peers, driven by relatively strong domestic economic growth which particularly helped construction and real estate stocks. The week of the January 2008 stock market downturn was characterised by extreme volatility in the markets, and saw both the biggest one day percentage fall and rise in the IBEX 35s history. The index closed 7. 5% down on 21 January 2008, the second biggest fall in the Spanish equity market since 1987, and rose a record 6. 95% three days later. The composition of the IBEX35 is reviewed twice per year by the so-called Technical Advisory Committee, renowned experts from the academic and financial fields. 3% of the total market cap of the index. Any candidate stock must also have either been traded on at least a third of all trading days in the six months. The IBEX35 is a capitalization-weighted index, the market cap used to calculate the weighting of each constituent is multiplied by a free float factor depending on the fraction of shares not subject to block ownership. Any company with 50% or more of its shares considered free float is given a free float factor of 1, unlike many other European benchmark indices, the weightings of companies in the IBEX35 are not capped. As of 2015, international funds based abroad owned 43% of the index, such rate of foreign investment was about 5% above the EU average. The formula can be adjusted to changes in index structure. As of 18 December 2015, the following 35 companies make up the index, Economy of Spain ^IBEX, finance Official IBEX35 website Bloomberg page for IBEX, IND IBEX35 composition and prices from the Bolsa de Madrid IBEX35 profile via Wikinvest Reuters page for. IBEX
7.
Helsinki
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Helsinki is the capital and largest city of Finland. It is in the region of Uusimaa, in southern Finland, on the shore of the Gulf of Finland. Helsinki has a population of 629,512, a population of 1,231,595. Helsinki is located some 80 kilometres north of Tallinn, Estonia,400 km east of Stockholm, Sweden, Helsinki has close historical connections with these three cities. The Helsinki metropolitan area includes the core of Helsinki, Espoo, Vantaa, Kauniainen. It is the worlds northernmost metro area of one million people. The Helsinki metropolitan area is the fourth largest metropolitan area in the Nordic countries, Helsinki is Finlands major political, educational, financial, cultural, and research center as well as one of northern Europes major cities. Approximately 75% of foreign companies operating in Finland have settled in the Helsinki region, the nearby municipality of Vantaa is the location of Helsinki Airport, with frequent service to various destinations in Europe and Asia. In 2009, Helsinki was chosen to be the World Design Capital for 2012 by the International Council of Societies of Industrial Design, the city was the venue for the 1952 Summer Olympics and the 52nd Eurovision Song Contest 2007. In 2011, the Monocle magazine ranked Helsinki the most liveable city in the world in its Liveable Cities Index 2011, in the Economist Intelligence Units August 2015 Liveability survey, assessing the best and worst cities to live in globally, Helsinki placed among the worlds top ten cities. Helsinki is used to refer to the city in most languages, the Swedish name Helsingfors is the original official name of the city. The Finnish name probably comes from Helsinga and similar names used for the river that is known as the Vantaa River. Helsingfors comes from the name of the parish, Helsinge and the rapids, which flowed through the original village. As part of the Grand Duchy of Finland in the Russian Empire, one suggestion for the origin of the name Helsinge is that it originated with medieval Swedish settlers who came from Hälsingland in Sweden. Others have proposed that the name derives from the Swedish word helsing, other Scandinavian cities located at similar geographic locations were given similar names at the time, for example Helsingør and Helsingborg. The name Helsinki has been used in Finnish official documents and in Finnish language newspapers since 1819, the decrees issued in Helsinki were dated with Helsinki as the place of issue. This is how the form Helsinki came to be used in written Finnish, in Helsinki slang the city is called Stadi. Hesa, is not used by natives to the city, helsset is the Northern Sami name of Helsinki
8.
Finland
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Finland, officially the Republic of Finland, is a sovereign state in Northern Europe. A peninsula with the Gulf of Finland to the south and the Gulf of Bothnia to the west, the country has borders with Sweden to the northwest, Norway to the north. Estonia is south of the country across the Gulf of Finland, Finland is a Nordic country situated in the geographical region of Fennoscandia, which also includes Scandinavia. Finlands population is 5.5 million, and the majority of the population is concentrated in the southern region,88. 7% of the population is Finnish people who speak Finnish, a Uralic language unrelated to the Scandinavian languages, the second major group are the Finland-Swedes. In terms of area, it is the eighth largest country in Europe, Finland is a parliamentary republic with a central government based in the capital Helsinki, local governments in 311 municipalities, and an autonomous region, the Åland Islands. Over 1.4 million people live in the Greater Helsinki metropolitan area, from the late 12th century, Finland was an integral part of Sweden, a legacy reflected in the prevalence of the Swedish language and its official status. In the spirit of the notion of Adolf Ivar Arwidsson, we are not Swedes, we do not want to become Russians, let us therefore be Finns, nevertheless, in 1809, Finland was incorporated into the Russian Empire as the autonomous Grand Duchy of Finland. In 1906, Finland became the nation in the world to give the right to vote to all adult citizens. Following the 1917 Russian Revolution, Finland declared itself independent, in 1918, the fledgling state was divided by civil war, with the Bolshevik-leaning Reds supported by the equally new Soviet Russia, fighting the Whites, supported by the German Empire. After a brief attempt to establish a kingdom, the became a republic. During World War II, the Soviet Union sought repeatedly to occupy Finland, with Finland losing parts of Karelia, Salla and Kuusamo, Petsamo and some islands, Finland joined the United Nations in 1955 and established an official policy of neutrality. The Finno-Soviet Treaty of 1948 gave the Soviet Union some leverage in Finnish domestic politics during the Cold War era, Finland was a relative latecomer to industrialization, remaining a largely agrarian country until the 1950s. It rapidly developed an advanced economy while building an extensive Nordic-style welfare state, resulting in widespread prosperity, however, Finnish GDP growth has been negative in 2012–2014, with a preceding nadir of −8% in 2009. Finland is a top performer in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life, a large majority of Finns are members of the Evangelical Lutheran Church, though freedom of religion is guaranteed under the Finnish Constitution. The first known appearance of the name Finland is thought to be on three rune-stones. Two were found in the Swedish province of Uppland and have the inscription finlonti, the third was found in Gotland, in the Baltic Sea. It has the inscription finlandi and dates from the 13th century, the name can be assumed to be related to the tribe name Finns, which is mentioned first known time AD98. The name Suomi has uncertain origins, but a candidate for a source is the Proto-Baltic word *źemē, in addition to the close relatives of Finnish, this name is also used in the Baltic languages Latvian and Lithuanian
9.
European Union
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The European Union is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2, the EU has developed an internal single market through a standardised system of laws that apply in all member states. Within the Schengen Area, passport controls have been abolished, a monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU operates through a system of supranational and intergovernmental decision-making. The EU traces its origins from the European Coal and Steel Community, the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. While no member state has left the EU or its antecedent organisations, the Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the basis of the EU. The EU as a whole is the largest economy in the world, additionally,27 out of 28 EU countries have a very high Human Development Index, according to the United Nations Development Programme. In 2012, the EU was awarded the Nobel Peace Prize, through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, because of its global influence, the European Union has been described as an emerging superpower. After World War II, European integration was seen as an antidote to the nationalism which had devastated the continent. 1952 saw the creation of the European Coal and Steel Community, the supporters of the Community included Alcide De Gasperi, Jean Monnet, Robert Schuman, and Paul-Henri Spaak. These men and others are credited as the Founding fathers of the European Union. In 1957, Belgium, France, Italy, Luxembourg, the Netherlands and West Germany signed the Treaty of Rome and they also signed another pact creating the European Atomic Energy Community for co-operation in developing nuclear energy. Both treaties came into force in 1958, the EEC and Euratom were created separately from the ECSC, although they shared the same courts and the Common Assembly. The EEC was headed by Walter Hallstein and Euratom was headed by Louis Armand, Euratom was to integrate sectors in nuclear energy while the EEC would develop a customs union among members. During the 1960s, tensions began to show, with France seeking to limit supranational power, Jean Rey presided over the first merged Commission. In 1973, the Communities enlarged to include Denmark, Ireland, Norway had negotiated to join at the same time, but Norwegian voters rejected membership in a referendum
10.
Madrid
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Madrid is the capital city of the Kingdom of Spain and the largest municipality in both the Community of Madrid and Spain as a whole. The city has a population of almost 3.2 million with an area population of approximately 6.5 million. It is the third-largest city in the European Union after London and Berlin, the municipality itself covers an area of 604.3 km2. Madrid lies on the River Manzanares in the centre of both the country and the Community of Madrid, this community is bordered by the communities of Castile and León. As the capital city of Spain, seat of government, and residence of the Spanish monarch, Madrid is also the political, economic, the current mayor is Manuela Carmena from Ahora Madrid. Madrid is home to two football clubs, Real Madrid and Atlético de Madrid. Madrid is the 17th most liveable city in the according to Monocle magazine. Madrid organises fairs such as FITUR, ARCO, SIMO TCI, while Madrid possesses modern infrastructure, it has preserved the look and feel of many of its historic neighbourhoods and streets. Cibeles Palace and Fountain have become one of the monument symbols of the city, the first documented reference of the city originates in Andalusan times as the Arabic مجريط Majrīṭ, which was retained in Medieval Spanish as Magerit. A wider number of theories have been formulated on possible earlier origins, according to legend, Madrid was founded by Ocno Bianor and was named Metragirta or Mantua Carpetana. The most ancient recorded name of the city Magerit comes from the name of a built on the Manzanares River in the 9th century AD. Nevertheless, it is speculated that the origin of the current name of the city comes from the 2nd century BC. The Roman Empire established a settlement on the banks of the Manzanares river, the name of this first village was Matrice. In the 8th century, the Islamic conquest of the Iberian Peninsula saw the changed to Mayrit, from the Arabic term ميرا Mayra. The modern Madrid evolved from the Mozarabic Matrit, which is still in the Madrilenian gentilic, after the disintegration of the Caliphate of Córdoba, Madrid was integrated in the Taifa of Toledo. With the surrender of Toledo to Alfonso VI of León and Castile, the city was conquered by Christians in 1085, Christians replaced Muslims in the occupation of the centre of the city, while Muslims and Jews settled in the suburbs. The city was thriving and was given the title of Villa, since 1188, Madrid won the right to be a city with representation in the courts of Castile. In 1202, King Alfonso VIII of Castile gave Madrid its first charter to regulate the municipal council, which was expanded in 1222 by Ferdinand III of Castile
11.
Deutsche Bank
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Deutsche Bank AG is a German global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt. It has more than 100,000 employees in over 70 countries, and has a presence in Europe, the Americas, Asia-Pacific. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a share of 21 percent. The company was a component of the STOXX Europe 50 stock market index until being replaced on that index on August 8,2016, the bank offers financial products and services for corporate and institutional clients along with private and business clients. Deutsche Bank’s core business is investment banking, which represents 50% of equity, 75% of leverage assets, in January 2014, Deutsche Bank reported a €1.2 billion pre-tax loss for the fourth quarter of 2013. This came after analysts had predicted a profit of nearly €600 million, revenues slipped by 16% versus the prior year. On 7 June 2015, the then co-CEOs, Juergen Fitschen and Anshu Jain, Anshu Jains resignation took effect on 30 June 2015, but he provided consultancy to the bank until January 2016. Juergen Fitschen temporarily continued as joint CEO until 19 May 2016, the appointment of John Cryan as joint CEO was announced, effective 1 July 2016, he became sole CEO at the end of Juergen Fitschens term. In January 2016, Deutsche Bank pre-announced a 2015 loss before income taxes of approximately €6.1 billion, Deutsche Bank was founded in Berlin in 1870 as a specialist bank for foreign trade. The banks statute was adopted on 22 January 1870, and on 10 March 1870 the Prussian government granted it a banking licence, three of the founders were Georg Siemens whose fathers cousin had founded Siemens and Halske, Adelbert Delbrück and L. Bamberger. Its first foray overseas came shortly afterwards, in Shanghai and London followed sometime by South America, major projects in the early years of the bank included the Northern Pacific Railroad in the US and the Baghdad Railway. In Germany, the bank was instrumental in the financing of bond offerings of steel company Krupp, the second half of the 1890s saw the beginning of a new period of expansion at Deutsche Bank. The bank formed alliances with large banks, giving itself an entrée into Germanys main industrial regions. Joint ventures were symptomatic of the then under way in the German banking industry. In addition, the bank rapidly perceived the value of specialist institutions for the promotion of foreign business, the immediate postwar period was a time of liquidations. Having already lost most of its assets, Deutsche Bank was obliged to sell other holdings. A great deal of energy went into shoring up what had been achieved, but there was new business, too, some of which was to have an impact for a long time to come. The bank played a significant role in the establishment of the production company, UFA
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€23.680 billion (2015)[1]
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