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72-464: In January 2022, the governments of Tanzania and Burundi signed a Memorandum of Understanding, in which they agreed to the construction of a standard gauge (1435 mm or 4 ft 8⁄ 2 in) railway line between the two countries. Initially, costs were estimated at US$ 900 million. The planned railway line is an extension of Tanzania's Standard Gauge Railway and is aimed at reducing transportation cost and increasing regional economic integration. Construction of

144-586: A royal charter to Scotsman James Wilson in 1853. Chartered opened its first branches in Bombay , Calcutta , and Shanghai in 1858; branches in Hong Kong and Singapore followed in 1859. The bank started issuing banknotes denominated in Hong Kong dollars in 1862. The Standard Bank was a British bank founded in the Cape Province of South Africa in 1862 by Scot, John Paterson . Having established

216-405: A systemically important bank . José Viñals is the group chairman of Standard Chartered. Bill Winters is the current group chief executive. The name Standard Chartered comes from the names of the two banks that merged in 1969 to create it: The Chartered Bank of India, Australia and China , and Standard Bank of British South Africa . The Chartered Bank began when Queen Victoria granted

288-607: A "rogue institution". The bank was ordered to appear and defend its actions, or risk losing its license to operate in the state of New York . The DFS said it had documents showing a cover up of transactions allegedly used to fund terrorist groups in the Middle East. On 14 August 2012, Lawsky announced that the DFS and Standard Chartered reached a settlement that allows the bank to keep its licence to operate in New York. According to

360-434: A 49% share of an Indian brokerage firm (UTI Securities) for $ 36 million in cash from Securities Trading Corporation of India Ltd., with the option to raise its stake to 75% in 2008, and, if both partners were in agreement, to 100% by 2010. On 29 February 2008, Standard Chartered PLC announced it had received all the required approvals leading to the completion of its acquisition of American Express Bank Ltd (AEB) from

432-600: A Pakistani bank. The merged bank, Standard Chartered Bank (Pakistan) , is now Pakistan's sixth largest bank. On 22 October 2006, Standard Chartered announced that it had received tenders for more than 51% of the issued share capital of Hsinchu International Bank ("Hsinchu"), established in 1948 in Hsinchu, Taiwan . In 2007, Standard Chartered opened its Private Banking global headquarters in Singapore . On 23 August 2007, Standard Chartered entered into an agreement to buy

504-723: A business consortium purchased a 35% stake to fend off Lloyds. A member of this consortium was Singaporean property tycoon Khoo Teck Puat , who purchased 5% of the bank's shares, which he later increased to 13.4%. In 1987, Standard Chartered sold its remaining interests in the South African bank; since then the Standard Bank Group has been a separate entity. In 1992, scandal broke when banking regulators charged several employees of Standard Chartered in Mumbai with illegally diverting depositors' funds to speculate in

576-423: A change of CEO after profit warnings and money laundering fines in the first half of the year. In 2016, Standard Chartered announced that it would stop providing loans to the midstream segment of the diamonds and jewellery industries. The announcement was the result of a review of the bank's involvement in risky business sectors. In 2017, the bank was reported to have lost $ 400 million on risky diamond debt on

648-525: A considerable number of branches Standard was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Half the output of the second largest gold field in the world passed through the Standard Bank on its way to London . Standard expanded widely in Africa over

720-649: A country (for example, 1,440 mm or 4 ft  8 + 11 ⁄ 16  in to 1,445 mm or 4 ft  8 + 7 ⁄ 8  in in France). The first tracks in Austria and in the Netherlands had other gauges ( 1,000 mm or 3 ft  3 + 3 ⁄ 8  in in Austria for the Donau Moldau line and 1,945 mm or 6 ft  4 + 9 ⁄ 16  in in

792-399: A distance of 80 kilometres. At the border, a 600 metre multimodal bridge will be built, accommodating both cars and trains. Phase B runs for 46 kilometres from Musongati to Gitega. In total, 187 kilometres of railway infrastructure will be built on the section. The cost for this section is expected to be US$ 1442.7 million. The Burundian and Tanzanian governments have applied for financing from

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864-602: A member of the Global Banking Alliance for Women , Standard Chartered works with a consortium of banks to deliver financial services to women. In August 2012, Standard Chartered agreed to pay $ 340 million to the New York State Department of Financial Services over charges that the bank worked with the government of Iran to hide $ 250 billion in transactions in order to evade sanctions. In December 2012, Standard Chartered agreed to pay

936-616: A new action against Standard Chartered over computer system breakdowns and was "discussing a potential settlement". On 19 August 2014, the bank was fined $ 300 million by the New York Department of Financial Services for breach of money-laundering compliance related to potentially high-risk transactions involving Standard Chartered clients in Hong Kong and the UAE. The bank issued a statement accepting responsibility and regretting

1008-527: A penalty of roughly $ 134 million from the United Kingdom's Financial Conduct Authority related to historical financial crime controls which takes the amount to over $ 1 billion. Standard Chartered Breeze is a mobile banking application for the iPhone & iPad that can also be used on the computer. It is largely similar to the online banking services offered by other banks, with the exception of its function to issue electronic bank cheques. Launched in

1080-552: A portfolio of loans that was once worth $ 3 billion. Owing to defaults of jewellery and diamond companies from 2013 onwards, Standard Chartered is currently estimated to have $ 1.7 billion of diamond debt still to be repaid. The company received criticism in April 2017 from the Institutional Shareholder Services (ISS). The investor advisory firm told shareholders it was concerned that targets set for

1152-760: A practice contrary to bank rules". In 1994, the Hong Kong Securities and Futures Commission found Standard Chartered's Asian investment bank to have illegally helped to artificially support the price of new shares they had underwritten for six companies from July 1991 to March 1993. The bank admitted the offence, apologized, and reorganized its brokerage units. The commission banned the bank from underwriting IPOs in Hong Kong for nine months. In 1997, Standard Chartered sold Mocatta Bullion and Base Metals, its metals division, to Toronto -based Scotiabank for US$ 26 million. Standard Chartered's Asian investment banking operations never recovered. In 2000,

1224-510: A standard gauge of 4 ft  8 + 1 ⁄ 2  in ( 1,435 mm ), and those in Ireland to a new standard gauge of 5 ft 3 in ( 1,600 mm ). In Great Britain, Stephenson's gauge was chosen on the grounds that existing lines of this gauge were eight times longer than those of the rival 7 ft or 2,134 mm (later 7 ft  1 ⁄ 4  in or 2,140 mm ) gauge adopted principally by

1296-470: A subsidiary of Jardine Matheson ) took over PermataBank and in 2006, both shareholders increased their joint ownership to 89.01%. With 276 branches and 549 ATMs in 55 cities throughout Indonesia, PermataBank has the second largest branch network in Standard Chartered organization. On 15 April 2005, the bank acquired Korea First Bank , beating HSBC in the bid. The bank has since rebranded

1368-423: A time-consuming and expensive process. The result was the adoption throughout a large part of the world of a "standard gauge" of 1,435 mm ( 4 ft  8 + 1 ⁄ 2  in ), allowing interconnectivity and interoperability. A popular legend that has circulated since at least 1937 traces the origin of the 1,435 mm ( 4 ft  8 + 1 ⁄ 2  in ) gauge even further back than

1440-766: Is currently operated by the Ghana Railway Company Limited . Kojokrom-Sekondi Railway Line (The Kojokrom-Sekondi line is a branch line that joins the Western Railway Line at Kojokrom ) Indian nationwide rail system ( Indian Railways ) uses 1,676 mm ( 5 ft 6 in ) broad gauge. 96% of the broad gauge network is electrified. The railway tracks of Java and Sumatra use 1,067 mm ( 3 ft 6 in ). Planned and under construction high-speed railways to use 1,668 mm ( 5 ft  5 + 21 ⁄ 32  in ) to maintain interoperability with

1512-480: Is defined in U.S. customary / Imperial units as exactly "four feet eight and one half inches", which is equivalent to 1,435.1   mm. As railways developed and expanded, one of the key issues was the track gauge (the distance, or width, between the inner sides of the rails) to be used. Different railways used different gauges, and where rails of different gauge met – a " gauge break " – loads had to be unloaded from one set of rail cars and reloaded onto another,

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1584-410: Is divided in two lots, of which the second lot is to be completed in two phases. This section of 156 kilometres will be built by Tanzania. In total, 180 kilometres of railway infrastructure will be built on this section. Costs for this section are estimated at US$ 959.4 million. This section will be built by Burundi and is to be completed in two phases. Phase A stretches from Malagarasi to Musongati for

1656-596: Is managing procurement for the governments of both countries, though Burundi's ARTF will be involved in supervision of the construction. Bidding closed on November 15, 2023. In March 2024, the governments of Tanzania and Burundi commenced formal talks on the technical aspects of construction. The line will span approximately 367 kilometres, featuring 282 kilometres of main railway line and 85 kilometres of siding and passing loops. It will be built based on AREMA and UIC standards. The line will allow for speeds of up to 160 kilometres per hour. The railway line will connect to

1728-571: Is the most widely used track gauge around the world, with about 55% of the lines in the world using it. All high-speed rail lines use standard gauge except those in Russia , Finland , Uzbekistan , and some line sections in Spain . The distance between the inside edges of the rails is defined to be 1,435 mm except in the United States, Canada, and on some heritage British lines, where it

1800-815: The African Development Bank (AfDB). The AfDB has expressed interest in financing the project. Both governments have already set aside funds for the construction of the railway line. Supporting Tanzania's SGR ambitions, the AfDB has pledged US$ 3.05 billion towards the SGR link Tabora – Kigoma and lot 1 of the Tanzania–Burundi SGR. In December 2023, the AfDB approved various financing structures valued at US$ 696.41 million. The funds are intended for an electrified Tabora-Kigoma link in Tanzania as well as

1872-623: The American Express Company (AXP). The total cash consideration for the acquisition is US$ 823 million. On 13 November 2008, Standard Chartered Bank (Hong Kong) Limited, entered into an agreement with JPMorgan Cazenove to acquire 100% of Cazenove Asia Limited, an Asian equity capital markets , corporate finance , and institutional brokerage business. On 27 November 2009, Dow Jones Financial News reported that Dubai will restructure its largest corporate entity. Among international banks, Standard Chartered has one of

1944-608: The Liverpool and Manchester Railway , authorised in 1826 and opened 30 September 1830. The extra half inch was not regarded at first as very significant, and some early trains ran on both gauges daily without compromising safety. The success of this project led to Stephenson and his son Robert being employed to engineer several other larger railway projects. Thus the 4 ft  8 + 1 ⁄ 2  in ( 1,435 mm ) gauge became widespread and dominant in Britain. Robert

2016-790: The Middle East . Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index . It has secondary listings on the Hong Kong Stock Exchange , the National Stock Exchange of India , and OTC Markets Group Pink . Its largest shareholder is the Government of Singapore -owned Temasek Holdings . The Financial Stability Board considers it

2088-459: The Singapore state-owned private investment firm, Temasek , became the bank's largest shareholder when it bought the 11.55% stake held by Khoo Teck Puat's estate. On 9 August 2006, Standard Chartered announced it had acquired an 81% shareholding in the Union Bank of Pakistan in a deal ultimately worth $ 511 million. This deal represented the first acquisition by a foreign firm of

2160-544: The fintech community is focused in Hong Kong, working closely with and co-ordinated by 'The eXellerator'. The SuperCharger FinTech Accelerator, along with main partners, Standard Chartered Bank (a founding member) and Fidelity International, has twice conducted programmes enabling international growth-stage companies to expand their operations within Asia. Standard Chartered Bank has initiated proof of concept projects with two companies: Bambu and KYC Chain. In September 2009, it

2232-623: The 2022–23 season and finally, in July 2022 that runs until the end of the 2026–27 season. The deal is estimated to be worth around £50 million per year by City A.M. , making it the joint-third most valuable sponsorship deal in the Premier League alongside Arsenal's deal with Emirates and Chelsea's deal with Yokohama . Standard Chartered is also the lead sponsor of the Singapore Marathon. The Priority Academy program

Tanzania–Burundi Standard Gauge Railway - Misplaced Pages Continue

2304-628: The African custody business from Barclays PLC. On 13 May 2010, Standard Chartered PLC launched the first-ever Indian Depository Receipt "IDR" offer. On 17 June 2010, Standard Chartered Bank and the Agricultural Bank of China (ABC) entered into a strategic alliance meant to strengthened their strategic partnership and identify joint business opportunities. Joint business and cooperation task forces were set up in October that year to define

2376-913: The Great Western Railway. It allowed the broad-gauge companies in Great Britain to continue with their tracks and expand their networks within the "Limits of Deviation" and the exceptions defined in the Act. After an intervening period of mixed-gauge operation (tracks were laid with three rails), the Great Western Railway finally completed the conversion of its network to standard gauge in 1892. In North East England, some early lines in colliery ( coal mining ) areas were 4 ft 8 in ( 1,422 mm ), while in Scotland some early lines were 4 ft 6 in ( 1,372 mm ). The British gauges converged starting from 1846 as

2448-647: The Netherlands for the Hollandsche IJzeren Spoorweg-Maatschappij ), but for interoperability reasons (the first rail service between Paris and Berlin began in 1849, first Chaix timetable) Germany adopted standard gauges, as did most other European countries. The modern method of measuring rail gauge was agreed in the first Berne rail convention of 1886. Several lines were initially built as standard gauge but were later converted to another gauge for cost or for compatibility reasons. 2,295 km (1,426 mi) Victoria built

2520-759: The Tanzanian standard gauge network at the town of Uvinza. From there, it runs in a general northwesterly direction along the Malagarasi river across the international border to the town of Musongati and onwards to the Burundian capital Gitega. Four new stations are planned in Tanzania: Mutinde, Kasulu , Lugoma and a border station. Five stations are planned in Burundi: a border station, Rutana, Musongati, Gitega-Ceru and Gitega-Rutegama. The project

2592-429: The Tanzania–Burundi SGR. The bank will provide US$ 98.62 million to Burundi in the form of grants and US$ 597.79 million to Tanzania in the form of loans and guarantees. In addition, the bank aims to mobilize financing of up to US$ 3.2 billion from commercial banks, development finance institutions , export credit agencies and institutional investors. In November 2024, the Tanzanian government announced that it had secured

2664-511: The United States, while continuing expansion in their traditional markets in Asia and Africa. In 1986, Lloyds made a hostile takeover bid for the Group. The bid was defeated; however, it spurred Standard Chartered into a period of change, including a series of divestments notably in the US and South Africa. It sold Union Bank to Bank of Tokyo and United Bank of Arizona to Citicorp . In 1986,

2736-573: The Year awards in September 2014, largely "on the basis of its work in emerging markets, particularly Asia". In January 2015, the company announced that it was exiting the money-losing " equity capital markets business completely", "becoming one of the first global banks" to do so. In November that year, the bank announced that it would cut 15,000 jobs, including one thousand senior jobs, "from managing director up to board executives". The cuts followed

2808-645: The advantages of equipment interchange became increasingly apparent. By the 1890s, the entire network was converted to standard gauge. The Royal Commission made no comment about small lines narrower than standard gauge (to be called "narrow gauge"), such as the Ffestiniog Railway . Thus it permitted a future multiplicity of narrow gauges in the UK. It also made no comments about future gauges in British colonies, which allowed various gauges to be adopted across

2880-635: The bank closed them down. In 2000, Standard Chartered acquired Grindlays Bank from ANZ , increasing its presence in private banking and further expanding its operations in India and Pakistan. Standard Chartered retained Grindlays' private banking operations in London and Luxembourg , as well as the subsidiary in Jersey , all of which were integrated into its own private bank. This now serves high-net-worth customers in Hong Kong, Dubai , and Johannesburg under

2952-696: The branches as SC First Bank . Standard Chartered completed the integration of its Bangkok branch and Standard Chartered Nakornthon Bank in October, renaming the new entity Standard Chartered Bank (Thailand) . Standard Chartered also formed strategic alliances with Fleming Family & Partners to expand private wealth management in Asia and the Middle East, and acquired stakes in ACB in Vietnam, Travelex, American Express Bank ( Bangladesh ), and Bohai Bank (China). The largest shareholder, billionaire Khoo Teck Puat , died in 2004; and two years later, on 28 March 2006,

Tanzania–Burundi Standard Gauge Railway - Misplaced Pages Continue

3024-483: The coal mines of County Durham . He favoured 4 ft 8 in ( 1,422 mm ) for wagonways in Northumberland and Durham , and used it on his Killingworth line. The Hetton and Springwell wagonways also used this gauge. Stephenson's Stockton and Darlington railway (S&DR) was built primarily to transport coal from mines near Shildon to the port at Stockton-on-Tees . Opening in 1825,

3096-493: The coalfields of northern England, pointing to the evidence of rutted roads marked by chariot wheels dating from the Roman Empire . Snopes categorised this legend as "false", but commented that it "is perhaps more fairly labeled as 'Partly true, but for trivial and unremarkable reasons. ' " The historical tendency to place the wheels of horse-drawn vehicles around 5 ft ( 1,524 mm ) apart probably derives from

3168-534: The colonies. Parts of the United States, mainly in the Northeast, adopted the same gauge, because some early trains were purchased from Britain. The American gauges converged, as the advantages of equipment interchange became increasingly apparent. Notably, all the 5 ft ( 1,524 mm ) broad gauge track in the South was converted to "almost standard" gauge 4 ft 9 in ( 1,448 mm ) over

3240-717: The conduct at issue involved transactions of at least $ 250bn." The bank issued a statement confirming that a settlement with the DFS had been reached and that "a formal agreement containing the detailed terms of the settlement is expected to be concluded shortly". Other US agencies—including the Federal Reserve , the Federal Bureau of Investigation , the Treasury Department , and the Justice Department —had also begun investigations into

3312-447: The controversial Carmichael Coal Mine, with a campaign led by Greenpeace calling for them to quit the project. The bank subsequently withdrew from the deal. Prior to 1973, management integration was still ongoing and the Standard Bank and Chartered Bank each had their own separate executives; Ronald Lane and H. R. Reed from the two banks first joined as co-managing directors in 1973, with Lane becoming sole managing director in 1975. As

3384-459: The course of two days beginning on 31 May 1886. See Track gauge in the United States . In continental Europe, France and Belgium adopted a 1,500 mm ( 4 ft  11 + 1 ⁄ 16  in ) gauge (measured between the midpoints of each rail's profile ) for their early railways. The gauge between the interior edges of the rails (the measurement adopted from 1844) differed slightly between countries, and even between networks within

3456-467: The deficiencies, at the same time noting the ruling would not jeopardize its U.S. licenses. In April 2019, it was reported that Standard Chartered may have to pay approximately $ 1 billion to settle its ongoing investigations in the US and UK. Earlier in February the company had set aside $ 900 million towards resolution of violations of U.S. sanctions and forex trading regulations. The company also faces

3528-602: The direction of the partnership and explore joint ventures. The committee was to be co-chaired by Peter Sands , CEO of Standard Chartered, and Zhang Yun , President of ABC. In December 2010, Standard Chartered was recognised as the Global Bank of the Year in The Banker ' s Bank of the Year 2010 awards. Standard Chartered also was named The Banker 's inaugural winners of the Global and European Transaction Bank of

3600-740: The first railways to the 5 ft 3 in ( 1,600 mm ) Irish broad gauge. New South Wales then built to the standard gauge, so trains had to stop on the border and passengers transferred, which was only rectified in the 1960s. Queensland still runs on a narrow gauge but there is a standard gauge line from NSW to Brisbane. NMBS/SNCB 3,619 km (2,249 mi) Brussels Metro 40 km (25 mi) Trams in Brussels 140 km (87 mi) 1,032 km (641 mi) The Toronto Transit Commission uses 4 ft  10 + 7 ⁄ 8  in ( 1,495 mm ) gauge on its streetcar and subway lines. Takoradi to Sekondi Route,

3672-608: The funding for the Tanzanian section of the railway. The funds will be provided by Standard Chartered , Sinosure and the AfDB. Standard-gauge railway A standard-gauge railway is a railway with a track gauge of 1,435 mm ( 4 ft  8 + 1 ⁄ 2  in ). The standard gauge is also called Stephenson gauge (after George Stephenson ), international gauge , UIC gauge , uniform gauge , normal gauge in Europe, and SGR in East Africa. It

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3744-429: The initial gauge of 4 ft 8 in ( 1,422 mm ) was set to accommodate the existing gauge of hundreds of horse-drawn chaldron wagons that were already in use on the wagonways in the mines. The railway used this gauge for 15 years before a change was made, debuting around 1850, to the 1,435 mm ( 4 ft  8 + 1 ⁄ 2  in ) gauge. The historic Mount Washington Cog Railway ,

3816-456: The largest loan portfolios in the Dubai market and the UAE as a whole, estimated to be $ 7.77 billion in total. This amounts to 4.2% of Standard Chartered's total loans outstanding. Other impacted banks included HSBC , Barclays , and RBS . The bank stated that any impairment arising from this exposure would not be material. Standard Chartered announced an agreement on 27 April 2010 to buy

3888-422: The laundering allegations and were reportedly taken off guard by the speed of the settlement. The Treasury stated that its own investigation of Standard Chartered will continue. Several financial analysts predicted that, due to its strong financial position, the bank would be able to easily cover the $ 900 million fine without having to raise extra capital. On 6 August 2014, Lawsky was reported to be preparing

3960-577: The name Standard Chartered Grindlays Offshore Financial Services. Leading to the incorporation of Standard Chartered (Hong Kong) on 1 July 2004, the Legislative Council of Hong Kong amended Legal Tender Notes Issue Ordinance. The amendment replaced Standard Chartered Bank with its newly incorporated subsidiary - Standard Chartered Bank (Hong Kong) Ltd - as one of the note-issuing banks in Hong Kong . The same year, Standard Chartered Bank and Astra International (an Indonesian conglomerate,

4032-607: The old 4 ft ( 1,219 mm ) plateway was relaid to 5 ft ( 1,524 mm ) so that Blenkinsop's engine could be used. Others were 4 ft 4 in ( 1,321 mm ) (in Beamish ) or 4 ft  7 + 1 ⁄ 2  in ( 1,410 mm ) (in Bigges Main (in Wallsend ), Kenton , and Coxlodge ). English railway pioneer George Stephenson spent much of his early engineering career working for

4104-436: The rails is better, thus the minimum distance between the wheels (and, by extension, the inside faces of the rail heads ) was the important one. A standard gauge for horse railways never existed, but rough groupings were used; in the north of England none was less than 4 ft ( 1,219 mm ). Wylam colliery's system, built before 1763, was 5 ft ( 1,524 mm ), as was John Blenkinsop 's Middleton Railway ;

4176-505: The railway is also aimed at intensifying the exploitation of the world's tenth largest nickel deposits located at Musongati, as well as enabling exploitation of Burundi's lithium and cobalt deposits. The East African Community as well as the African Union have consequently named the railway as one of their top priorities. Tanzania's finance ministry expects more than a million yearly tonnes of cargo to be transported between

4248-411: The rest of the network. All other railways use 1,668 mm ( 5 ft  5 + 21 ⁄ 32  in ) ( broad gauge ) and/or 1,000 mm ( 3 ft  3 + 3 ⁄ 8  in ) metre gauge . BLS , Rigi Railways (rack railway) 449 km Several states in the United States had laws requiring road vehicles to have a consistent gauge to allow them to follow ruts in

4320-408: The road. Those gauges were similar to railway standard gauge. Standard Chartered Standard Chartered PLC is a British multinational bank with operations in consumer , corporate and investment banking , and treasury services . Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia , Africa , and

4392-622: The stock market. Fines by Indian regulators and provisions for losses cost the bank almost £350 million, at that time fully a third of its capital. In 1994, London's Sunday Times reported that an executive in the bank's metals division had bribed officials in Malaysia and the Philippines to win business. The bank, in a statement on 18 July 1994, acknowledged that there were "discrepancies in expense claims [that] ... included gifts to individuals in certain countries to facilitate business,

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4464-467: The summer of 2010 and aggressively marketed, the reviews have been generally positive. In addition, it has attracted an uncommon amount of attention due to many innovative marketing strategies it used to promote its product, mostly focusing on social media. Standard Chartered Breeze organised a blogger's meet for bloggers to preview Breeze, and its Twitter campaign to give away a free iPad was extremely successful. Standard Chartered's primary engagement with

4536-429: The term "narrow gauge" for gauges less than standard did not arise for many years, until the first such locomotive-hauled passenger railway, the Ffestiniog Railway , was built. In 1845, in the United Kingdom of Great Britain and Ireland , a Royal Commission on Railway Gauges reported in favour of a standard gauge. The subsequent Gauge Act ruled that new passenger-carrying railways in Great Britain should be built to

4608-403: The terms of the settlement, the bank agreed to pay a $ 340 million fine. The bank agreed to install a monitor to oversee the bank's money laundering controls for at least two years, and appoint "permanent officials who will audit the bank's internal procedures to prevent offshore money laundering". The monitor will report directly to the DFS. Lawsky's statement said "the parties have agreed that

4680-476: The top bosses in the bank's long-term incentive plan (LTIP) were not demanding enough. Bill Winters, the chief executive, stands to net share awards with a face value of as much as £4.4m from the scheme, while Andy Halford, the chief financial officer, could receive £2.7m. On 6 August 2012, the New York Department of Financial Services (DFS), led by Benjamin Lawsky , accused Standard Chartered of hiding $ 250 billion in transactions involving Iran, labelling it

4752-444: The two countries, and more than 3 million tonnes of minerals each year to be ferried from Burundi to Tanzania. It would be only the second transnational electrified railway on the African continent. The timeline for the completion of the project is five years. In August 2022, the Tanzanian government invited bids for the design and construction of the Uvinza-Gitega (Tanzania-Burundi) Standard Gauge line. The Tanzania Railway Corporation

4824-479: The width needed to fit a carthorse in between the shafts. Research, however, has been undertaken to support the hypothesis that "the origin of the standard gauge of the railway might result from an interval of wheel ruts of prehistoric ancient carriages". In addition, while road-travelling vehicles are typically measured from the outermost portions of the wheel rims, it became apparent that for vehicles travelling on rails, having main wheel flanges that fit inside

4896-426: The world's first mountain -climbing rack railway , is still in operation in the 21st century, and has used the earlier 4 ft 8 in ( 1,422 mm ) gauge since its inauguration in 1868. George Stephenson introduced the 1,435 mm ( 4 ft  8 + 1 ⁄ 2  in ) gauge (including a belated extra 1 ⁄ 2  in (13 mm) of free movement to reduce binding on curves ) for

4968-484: The years, but from 1883 to 1962 was formally known as the Standard Bank of South Africa. In 1962 the bank changed its name to Standard Bank Limited, and the South African operations became a separate subsidiary that took the parent bank's previous name, Standard Bank of South Africa Ltd. Both banks acquired other smaller banks along the way and spread their networks further. In 1969, the banks decided to merge and to counterbalance their network by expanding in Europe and

5040-429: Was announced that Standard Chartered had agreed to become the main sponsor of Liverpool Football Club for the period between July 2010 and the end of the 2013–14 football season, taking shirt sponsorship and various other branding rights. The sponsorship has been extended multiple times. First in 2013 to the end of the 2015–16 season, next in 2015 through the 2018–19 season, then again, in May 2018 that extends through

5112-443: Was created in 2006 by the bank, with educational programmes including a study tour of Shanghai, a summer internship programme and a study seminar in the United States. The program donated $ 250,000 to Chan Yik Hei, a science amateur who won the Intel International Science and Engineering Fair, for his studies at the Hong Kong University of Science and Technology. In 2015, Standard Chartered was widely criticised for its $ 12bn funding of

5184-605: Was reported to have said that if he had had a second chance to choose a gauge, he would have chosen one wider than 4 ft  8 + 1 ⁄ 2  in ( 1,435 mm ). "I would take a few inches more, but a very few". During the " gauge war " with the Great Western Railway , standard gauge was called " narrow gauge ", in contrast to the Great Western's 7 ft  1 ⁄ 4  in ( 2,140 mm ) broad gauge . The modern use of

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