DBS posts record profit on lending gains, raises bar for Singapore banks. Reuters
Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest commercial lender by assets, posted a 4.1 per cent rise in profit for the three months ended March, its fastest growth for the period since 2014. Profit was 82.01 billion yuan ($12.18 billion) for the first quarter, compared with 78.80 billion yuan in the same period a year earlier, the bank said in a filing on Monday.
Ties between the two powers are once again taking centre stage at the weekend Singapore conference known as the Shangri-La Dialogue, which gathers defence ministers and top military officials from around the world.
China’s central bank (CB) said on Monday it will cut reserve requirement ratios (RRRs) to release about 280 billion yuan ($41 billion) for some small and medium-sized banks, in a targeted move to help companies struggling amid an economic slowdown.
Policymakers from the Group of 20 industrialised countries are worried that the weakness evident in key economies could spread, especially if elevated trade tensions, such as those between the United States and China, escalate further.
The Buna platform is an integrated system that provides clearing and settlement services for payments in multiple currencies in the Arab region.
Life has a habit of passing so many people by because they are too busy thinking about what’s going to happen in the future or how they could have done things differently in the past.
The International Monetary Fund (IMF) on Friday slashed its US economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession.