Abu Dhabi has emerged as the leading city that manages the most Sovereign Wealth Funds capital globally, thanks to the $1.7 trillion in assets managed by its various SWFs headquartered in the capital of the UAE. These include the Abu...
MPA is also adopting artificial intelligence, continuing green fuel efforts. Next year, Singapore’s port will be the world’s first to fully implement digital bunkering in a move away from physical documents, Senior Minister of State for Transport Amy Khor announced. Bunkering,...
Regulator seeks enhanced transparency, more useful information on firms’ activities. The European Securities and Markets Authority (ESMA) has issued new guidance for issuers on accounting for their carbon trading activity in their financial statements. The regulator published a report setting out...
Hong Kong banks borrowed the largest amount of short-term cash in almost five years from authorities, a move pointing to a sudden demand for liquidity. The Hong Kong Monetary Authority – the city’s de-facto central bank – loaned out HK$4.8...
Emerging market emissions rise, offsetting advanced economy improvements. The global economy is falling far short of the decarbonization pace needed to reach net zero by 2050, Fitch Ratings warned in a report. The rating agency said global carbon emissions rose by...
Kingdom Holding Company (KHC), a Saudi conglomerate with interests in key sectors such as hotel management, real estate and equity, has announced that Saudi Binladin Group (SBG) will soon resume the construction work on the mega tower being developed...
Surging debt issuance leads the way, with lending, M&A up too. Amid robust debt issuance and rising syndicated loan activity, global investment banking fees are up 10% so far this year, according to new data from LSEG Data & Analytics. Through...
EMEA represents a bulk of ING's sustainable finance activities. ING Bank has issued $35.37b in sustainable financing in Q2 2024, 30% higher compared to the first quarter period and the same quarter in 2023, the bank said in a report. To...
Global technology consultancy Thoughtworks has collaborated with AI Singapore to develop generative AI (GenAI) and its adoption. The Memorandum of Understanding (MOU) is the second between Thougtworks and AI Singapore, and focuses specifically on accelerating the deployment of AI applications...
Banks around the world will next year start live trials of digital asset and currency transactions over the Swift network. While the Swift network has been used to carry out digital asset transactions in test environments, the move to live...
