People walk past a branch of Industrial and Commercial Bank of China (ICBC) in Beijing. Reuters. / File Photo
Southeast Asia’s biggest lender DBS Group Holdings Ltd beat market estimates to post a record quarterly profit, as strong lending income offset weakness in wealth management, brokerage and investment banking fees. DBS, the first Singapore bank to kick off the sector’s results, posted an 8.5 per cent rise in first-quarter net profit from a year earlier,
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.
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
Bilateral trade between Dubai and Germany reached Dhs24.6 billion in 2020 and will continue to grow given Dubai’s ease of doing business and flexible ecosystem, according to a top official of Dubai Silicon Oasis Authority (DSOA).
US private equity firm Clayton, Dubilier & Rice (CD&R) is considering a possible cash offer for British supermarket group Morrisons, it said on Saturday.
As part of its tireless and continuous endeavour to support and to stimulate the real estate sector, Sharjah Real Estate Registration Department has announced that 15 different institutions have won the Real Estate Excellence Award,
Dubai Electricity and Water Authority (Dewa) is participating at Expo 2020 Dubai with a large pavilion, characterised by a contemporary design that aligns with Dewa’s role as the Official Sustainable Energy Partner of Expo 2020 Dubai.