Fitch: rate hikes reveal banks’ weaknesses
Systemic stress appears low as global monetary conditions tighten.
Philippine banks return to pandemic profitability in mid-2022
Non-performing loans in the country's banking sector have peaked and will continue to decline.
Fears of global slowdown fade as cost of living rises
The global economy appears headed for a major contraction, just as the highest inflation in a generation is prompting central banks to aggressively roll back extremely loose monetary policies adopted during the pandemic to support growth.
UBS reports second-quarter 2022 net income up 5% to $2.1 billion
The company's investment banking business reported revenue of $2.1 billion for the second quarter of 2022, down 14% from $2.4 billion in the corresponding quarter of the previous year.
In the second quarter, South Korea’s real GDP grew 0.7% quarter-on-quarter.
South Korea's inflation-adjusted real gross domestic product rose 0.7% in the second quarter of this year from the previous quarter, according to central bank data.
Vatican imposes new investment policy amid financial scandal
The policy prohibits speculative investments, short sales and complex high-leverage financial products.
Singapore’s exports rose 9.0% in June
Oil domestic exports (NODX) increased for the 19th straight month in June, led by shipments of non-electronic products such as petrochemicals.
JPMorgan’s second-quarter profit fell 28%
JP Morgan Chase reported second-quarter earnings that fell 28 percent from a year ago, primarily due to higher noninterest expenses and a significant increase in net lending provisions.
UK fintech investment rises despite global slowdown
While global fintech investment remained flat in the first half of the year, the UK saw growth of 24% year-on-year, according to Innovate Finance.
China’s exports grew 17.9% in June
Imports are growing more slowly, up 1% from last year, customs data show.
