The Philippine economy grew 5.2 percent year-on-year in the third quarter of 2024, the Philippine Statistics Authority (PSA) said. It said that the gross domestic product grew 1.7 percent quarter-on-quarter. This brought the average growth in the first three quarters of...
Singapore's biggest bank DBS Group posted a record net profit in the third quarter, but forecast 2025 net profit to be below 2024 levels because the country is introducing a global minimum corporate tax rate. DBS, said July to September...
Global investment in energy efficient technologies surged by 4% in 2024 – and is on course to reach a record $660 billion, according to a new analysis by the International Energy Agency (IEA). Doubling global rate of improvement will require...
China’s trade surplus is on track to hit a fresh record this year, increasingly leaving it on a collision course with some of the world’s biggest economies by aggravating an imbalance in global commerce that risks provoking President-elect Donald...
Thanks to continued robust liquidity and strong capital levels. Citigroup and Citibank are expected to have a stable outlook, reflecting confidence in Citigroup’s transformation toward a simpler and safer business model, a core focus for the board, management, and regulators,...
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...
