Global merchandise trade turned upwards in the first half of 2024 with a 2.3% year-on-year increase, which should be followed by further moderate expansion in the rest of the year and in 2025, according to Global Trade Outlook for...
Wells Fargo’s profit beat analysts’ expectations in the third quarter, helped by resilience in wealth management and lower provisions for credit losses, which sent its shares up 3.5 per cent before the bell. The bank, however, forecast a bigger-than-expected 9...
BlackRock pulled in US$160 billion of client cash to its long-term investment funds last quarter, pushing the world’s largest money manager to a record US$11.5 trillion of assets as it seeks to become a one-stop shop for stocks, bonds...
New Zealand's central bank has slashed its benchmark interest rate by 50 basis points after its monetary policy meeting, marking a second straight cut to its benchmark interest rate. The cut brings the Reserve Bank of New Zealand's interest rate...
South Korea’s central bank cut policy interest rates for the first time in four and a half years, making a shift away from quashing inflation, currently below its 2 per cent target, to focus on reviving growth. The Bank of...
Abu Dhabi has emerged as the leading city that manages the most Sovereign Wealth Funds capital globally, thanks to the $1.7 trillion in assets managed by its various SWFs headquartered in the capital of the UAE. These include the Abu...
MPA is also adopting artificial intelligence, continuing green fuel efforts. Next year, Singapore’s port will be the world’s first to fully implement digital bunkering in a move away from physical documents, Senior Minister of State for Transport Amy Khor announced. Bunkering,...
Regulator seeks enhanced transparency, more useful information on firms’ activities. The European Securities and Markets Authority (ESMA) has issued new guidance for issuers on accounting for their carbon trading activity in their financial statements. The regulator published a report setting out...
Hong Kong banks borrowed the largest amount of short-term cash in almost five years from authorities, a move pointing to a sudden demand for liquidity. The Hong Kong Monetary Authority – the city’s de-facto central bank – loaned out HK$4.8...
Emerging market emissions rise, offsetting advanced economy improvements. The global economy is falling far short of the decarbonization pace needed to reach net zero by 2050, Fitch Ratings warned in a report. The rating agency said global carbon emissions rose by...
