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25/08/2023

China’s securities regulator is planning to hold a meeting with some of the world’s largest asset managers in an effort to restore confidence following a period of significant outflows by foreign funds.

Notable firms like Fidelity International Ltd. and Goldman Sachs Group Inc. are among those that have received invitations to the meeting

02/08/2023

A recent report by Fitch Ratings has shed light on the risks European banks could face due to higher interest rates during economic stress.

A recent report by Fitch Ratings has shed light on the risks European banks could face due to higher interest rates during economic stress

02/08/2023

Raiffeisen Bank, the largest western lender still operating in Russia, has experienced a doubling in staff costs at its Russia-based subsidiary in the past six months, amounting to a staggering €200 million increase.

The US Treasury Department has requested thousands of documents from the bank to ensure compliance with sanctions against Moscow.

02/08/2023

Top executives from Tesla, the renowned electric car manufacturer, held crucial discussions with officials from India’s investment promotion agency on Thursday, as the company aims to make its foray into the world’s second-largest car market.

While Tesla has contemplated entering India for several years, high import duties on electric vehicles have been a significant hurdle.

02/08/2023

Saudi Arabia and Brazil took significant steps towards enhancing cooperation across various sectors as officials from both countries signed 25 agreements during the Brazil-Saudi Investment Forum held in Sao Paulo on Monday.

The forum's outcomes are expected to facilitate long-term sustainable growth and deepen the strong ties between Saudi Arabia and Brazil.

02/08/2023

The decision, announced by Kazuo Ueda, the BoJ’s new governor, has implications for bond, currency, and equity markets and marks a significant step towards unwinding decades of ultra-accommodative monetary policy.

Overall, the BoJ's decision is seen as a balancing act as it buys time to assess wage growth and its sustainability into next year

02/08/2023

The US economy surpassed expectations in the second quarter, growing at a rate of 2.4% on an annualised basis. Labor market resilience supported consumer spending, and businesses increased investment in equipment, potentially warding off fears of an imminent recession.

The 2.4% growth rate in GDP exceeded economists' expectations, who had forecasted a 1.8% rate for the April-June period

02/08/2023

The Saudi-Bahraini Coordination Council recently convened its economy, energy, trade, and industry committee to explore opportunities for enhancing joint bilateral cooperation.

Through such strategic collaborations, Saudi Arabia and Bahrain aim to bolster their ties and realise shared benefits for both nations.

02/08/2023

Foreign interest in Nigeria’s equities market has significantly declined over the past decade due to forex illiquidity, high inflation, and a challenging macroeconomic environment.

On the other hand, domestic transactions have increased by 93.7%, reaching N137 billion in the same period.

01/08/2023

Bank of Ireland (BIRG.I) has revised its full-year guidance, anticipating improved returns to shareholders following a substantial surge in first-half profits.

In a similar vein, main rival AIB (AIBG.I) also raised its guidance for the second time in three months on Friday

01/08/2023

The Central Bank of West African States (BCEAO) has cancelled Niger’s planned 30 billion CFA franc ($51 million) bond issuance in the West African regional debt market, in the wake of a recent coup, according to sources familiar with the matter.

The situation in Niger remains tense and uncertain, with both regional and international actors closely monitoring developments.

01/08/2023

The Swiss National Bank (SNB) reported a substantial loss of 13.2 billion Swiss francs ($15.14 billion) in the second quarter, despite earning nearly 900 million francs in interest income from emergency loans extended to Credit Suisse and UBS (UBSG.S).

Interest from emergency loans helped mitigate some losses incurred by the central bank as a result of its recent monetary policy tightening

01/08/2023

The Lebanese central bank is undergoing a crucial leadership transition as Wassim Mansouri, the interim chief, calls on the government to initiate long-overdue reforms amidst a challenging financial crisis.

The economic meltdown under his watch left many Lebanese in poverty and paralyzed the once flourishing banking system.

01/08/2023

Deutsche Bank announced its second-quarter financial results on Wednesday, revealing a net profit of €763 million ($842 million)

CFO von Moltke expressed confidence in attracting strong talent and leveraging the bank's platform and market presence

24/07/2023

Digital bank N26 has made significant staff cuts in Brazil, reportedly laying off 15% of its Brazilian workforce, affecting approximately 20 employees.

This is a small fraction compared to the 8 million customers the bank claimed to have worldwide at the end of 2022.

24/07/2023

Jorginho, the talented midfielder for Arsenal football club, is making a name for himself not only on the pitch but also in the world of financial investments. Jorginho has become a founding investor in Gather, an emerging FinTech start-up.

The app allows users to invest in funds with a commitment as low as £30, making investing accessible to a broader audience.

24/07/2023

Deutsche Bank, Germany’s largest lender, has once again been slapped with a hefty fine by the US Federal Reserve, amounting to $186 million.

Deutsche Bank, Germany's largest lender, has once again been slapped with a hefty fine by the US Federal Reserve, amounting to $186 million

24/07/2023

Japan’s core consumer prices experienced a faster increase in June, marking the 15th consecutive month above the central bank’s target.

Japan's core consumer prices experienced a faster increase in June, marking the 15th consecutive month above the central bank's target.

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