Singapore's United Overseas Bank, or UOB, posted a faster-than-expected rise in third-quarter net profit to a record, helped by brisk trading and investment, and flagged a pick up in loan growth next year. Southeast Asia's third-largest bank by assets said...
After 4-year period, bank lowers rate 2nd time in a row. The US Federal Reserve on Thursday reduced interest rates by 25 basis points to the range of 4.5%-4.75%. The move was the second rate cut by the central bank in...
Operating expenses rose 9% to $1.11b. Oversea-Chinese Banking Corporation’s (OCBC) third quarter (Q3 2024) net profit increased by 9% year-on-year (YoY) to $1.50b. In the January to September period, net profit also climbed 9% to $4.48b. “This was driven by broad-based income...
Latest cut comes after inflation fell to an annual rate of 1.7% — U.K.’s lowest level since April 2021. The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after...
The five central bank partners in Project Nexus, a Bank for International Settlements initiative to interlink domestic real-time payment rails across borders, are to establish a managing entity, the Nexus Scheme Organisation (NSO), which will oversee the project in...
Modalku Group has obtained a credit facility worth US$ 100 million from the HSBC ASEAN Growth Fund. In a press release, Kelvin Teo, Co-founder and Group CEO of Funding Societies Modalku said that HSBC's continued support is proof of its...
The global mutual fund market is worth $63t. Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenised fund subscriptions and redemptions over Swift’s network, which connects more than 11,500 financial institutions worldwide. This initiative allows digital asset...
The capital is set to improve the company's mining activities and support its expansion in the area. Asante Gold has unveiled plans to raise $525m through a two-stage financing package to support expansion and operational improvement strategies at its Ghanaian...
The Indonesian economy grew at a slower pace of 4.95 percent year-on-year (yoy) in the third quarter of 2024, according to the National Statistics Agency (BPS). The economy grew by 5.11 percent yoy in Q1-2024 but then slowed to 5.05...
Physical risks and transition risks grow as governments fail to curb emissions, Moody’s warns. The latest data on global greenhouse gas emissions signal growing climate-related credit risks as countries fall far short of their commitments to curb emissions, says Moody’s...
