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,
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 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.
Boeing won a major vote of confidence at the Paris Airshow on Tuesday as British Airways owner IAG signed a letter of intent to buy 200 of its 737 MAX aircraft that have been grounded since March after two deadly crashes.
Lootah Real Estate Development (Lootah), one of the region’s most prominent real estate developers, on Tuesday announced the launch of Senaeyat, a company that provides lease-to-own industrial warehouses for businesses of different sizes.
The UAE e-commerce market is poised to grow to $17.8 billion in 2020, and the logistics providers they choose will play a key role in the exponential growth of online shopping, according to industry specialists.