GDP growth for first nine months of 2024 hits 4.8%. China’s economy expanded by 4.6% in the third quarter of 2024 compared to the same period last year, according to official figures released Friday by the National Bureau of Statistics. For...
Seeing no signs of recession, bank’s rate-setting council lowers benchmark rate from 3.5% to 3.25% — its third reduction since June. The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, does not...
Euroclear announced it has made an investment in Singapore market infrastructure Marketnode. HSBC led Marketnode’s Series A funding round in May. The company was founded in 2021 as a joint venture between the Singapore Exchange and state-backed investment company...
Blackstone beat Wall Street’s expectations on its key quarterly earnings metric, as the world’s largest alternative investment firm’s assets under management (AUM) hit a record US$1.1 trillion and the value of its funds rose. New York-based Blackstone said it saw...
Bank of Thailand says country's economy expected to expand as anticipated. The Bank of Thailand lowered its policy interest rate by 25 basis points to 2.25%, the first rate cut since May 2020. After keeping the rate at 0.5% for a...
Banks’ restructuring, expansion efforts seen closing gap with U.S. giants. While Wall Street’s big investment banks have been outperforming their European rivals, that gap is expected to narrow over the next couple of years, says Fitch Ratings. In a new report,...
Its third-quarter profit increases to US$2.99 billion, from US$2.06 billion in the corresponding period a year earlier. Goldman Sachs’ profit has jumped 45 per cent in the third quarter, as the investment bank benefited from a rebound in dealmaking. It joined...
Clients can request pricing quotations and get responses digitally. Standard Chartered has introduced Autoquote, digital request quote module (RFQ), on its digital banking platform Straight2Bank. Autoquote enables clients globally to request pricing quotations for their letters of credit (LC) confirmation and...
Fidelity International has launched what it believes is the first globally available ‘blue transition’ bond fund. Kris Atkinson and Shamil Gohil manage the Fidelity Funds 2 – Blue Transition Bond Fund and have a combined 42 years’ experience. According to Fidelity,...
The non-oil GDP growth in Saudi Arabia remains strong in the second quarter, recording a 4.9% increase year-on-year. Lead indicators such as non-oil PMI remains healthy driven by jobs creation and new orders. Other high frequency data such as cement...
