The company's revenue for the quarter also exceeded expectations, coming in at $25.4 billion against the consensus estimate of $25.24 billion. Despite the positive results, net income fell to $6.9 billion from $7.4 billion in the same quarter last year,...
Long-term funds gained €24.5 billion in inflows in June, with equity funds capturing half, according Morningstar’s data. In the first half of 2024, long-term funds experienced €146.8 billion in net inflows. Morningstar’s asset flow commentary for Europe, covering June and...
Malaysia’s economic growth in the second quarter surpassed all estimates on broad-based gains from manufacturing to consumption, suggesting a recovery seen at the beginning of 2024 is gathering speed. Gross domestic product grew 5.8 percent in the April-June quarter from...
The adoption of the new sharia standard 62 could disrupt the sukuk market as soon as next year, according to top ratings agency S&P Global. The Accounting and Auditing Organization for Islamic Financial Institutions' sharia standard 62 could reduce issuance...
Tech advantages always prove short lived in the stock markets, report suggests. The global asset management industry will be able to wring a number of benefits from generative artificial intelligence (AI) — but beating the markets won’t be one of...
Top U.S. asset manager Vanguard favors high-rated corporate debt over riskier high-yield companies' bonds as it seeks protection against the possibility a sharper-than-anticipated U.S. economic downturn caused by high borrowing costs, it said in a report. After one year since...
Singapore's full-year economic growth will come in closer to its potential rate of 2% to 3% and core inflation is expected to ease more significantly in the final quarter of the year, the head of its central bank said. Monetary...
In the first six months of 2024, Uzbekistan's gross domestic product (GDP) increased by 6.4%. Under the chairmanship of President Shavkat Mirziyoyev, a critical meeting of video selectors commenced, focusing on the nation's economic performance and outlining future tasks. The...
Tajikistan has shown robust economic growth, expanding by 8.3% in 2023 and 8.2% in early 2024, driven by increased revenue from gold exports and public infrastructure spending, the World Bank reported. Worker remittances and public wage hikes have also boosted...
The Monetary Authority of Singapore is to commit $100 million in grant funding to support the development of AI and quantum computing technologies in the financial sector. The quantum technology funding, enabled under the central bank's Financial Sector Technology and...
