The Kingdom of Saudi Arabia's non-oil and government activities grew 4.4% and 3.6%, respectively, during the second quarter of this year, reported state news agency SPA. The kingdom's Gross Domestic Product (GDP) contracted by 0.4% for the three-month period ended...
Singapore's biggest bank DBS posted a rise of 4 per cent in second-quarter net profit from a year earlier, boosted by stronger total income, with fee income at a record. Its net profit for the quarter rose to S$2.8 billion...
A strong performance from its investment bank compensated for declining income in its core UK businesses. Barclays reported a lower than expected 9 percent fall in first half pretax profit, as a strong performance from its investment bank compensated for...
MITSUBISHI UFJ Financial Group reported quarterly profit that beat estimates. The nation’s largest bank said net income came in at 555.9 billion yen (US$ 3,79 billion) for its fiscal first quarter ended in June, accounting for more than a third...
Net interest income up 2% to S$2.43 billion in forecast-beating performance. OCBC’s net profit for the second quarter ended June rose 14 per cent to S$1.94 billion, from S$1.71 billion in the previous corresponding period. The bank said this was underpinned...
Excluding one-off expenses incurred in the acquisition of Citigroup’s consumer banking businesses, Q2 profit would have been S$ 1.49 billion(US$ 1,12 billion). UOB’s net profit for its second quarter rose due to double-digit fee income growth and lower credit allowances,...
The CFA Institute Research and Policy Center, the global association of investment professionals, has unveiled a new classification framework aimed at enhancing transparency and investor understanding of smart-beta, direct indexing and index-based investment products. The initiative includes policy recommendations for...
According to a new industry survey, while construction still faces challenges, inflationary pressure is softening and stabilising costs are allowing investment flow in key global growth sectors. Years of supply chain disruption and geopolitical volatility means many nations are investing...
GRI, TFND issue joint guidance, map to facilitate sustainability reporting. In an effort to facilitate disclosure of issuers’ biodiversity risks, the Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) issued joint guidance that spells out how...
Defaults, delinquencies poised to rise for rate-sensitive borrowers. With the economy slowing and rate cuts still in the distance, U.S. credit conditions are expected to deteriorate in the second half, says Fitch Ratings in a new report. The rating agency noted...
