A woman rides past the headquarters of the People’s Bank of China in Beijing. 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.
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 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.
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.
Dubai has recorded 2,624 real estate and properties transactions at a value of Dhs 8 billion in total during the week ending 24th June 2022. The DLD report said that 274 plots were sold for Dhs1.15 billion,