Move is seen as the start of an easing cycle but bank may wait months before cutting it again. The European Central Bank cut interest rates for the first time in five years on Thursday, lowering them from a record...
Dutch bank ABN Amro is working with AI platform Compile data to automate its trade finance operations. ABN Amro will use Complidata's TradeSpeed around the world for documentary trade finance, specifically letters of credit and documentary collections, where manual processes...
Land degradation requires immediate and concerted action from stakeholders across the world, a leading environmentalist has said, in light of the World Environment Day being marked on June 5 – a major outreach programme of the United Nations in...
Business disruption costs are the largest effect of cyber incidents. Cyberattacks typically haven’t had much impact on credit quality, but the rising number and severity of attacks could change that, says Moody’s Ratings. “The rising number and sophistication of cyberattacks is...
South America’s biggest economy sees GDP increase of 0.8% on quarterly basis. Brazil’s economy annually grew 2.5% in the first quarter of this year, compared to the same period of 2023, according to figures released Tuesday by the Brazilian Institute...
The BOC says indicators of underlying inflation looked increasingly positive. The Bank of Canada (BOC) on Wednesday (Jun 5) trimmed its key policy rate by 25 basis points to 4.75 per cent, its first cut in four years, and said...
The value of money owed by governments rose by US$5.6 trillion from 2022, UN Trade and Development says. Global public debt rose to a record $97 trillion last year, the United Nations reported Tuesday, with developing countries owing roughly one-third...
A.P. Moller–Maersk (Maersk) has reported signs of further port congestion, especially in Asia and the Middle East, and an additional increase in container freight rates. This comes on the back of continued strong market demand and the disruption caused by...
Thanks to a solid operating income performance and maintained costs. CIMB Group’s net profit climbed 17.7% year-on-year (YoY) to $0.41b, attributable to strong operating income growth and contained costs and provisions. “The positive performance translates to an improvement in the Group’s...
At some of the world’s biggest banks, loans to commercial real estate face new litmus tests that promise to shape the sector’s access to financing. At issue is the carbon emissions of buildings and the expected cost of upgrades needed...
