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.
US Commerce Secretary Wilbur Ross said on Monday the US government will extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers,
Stock markets rallied on Monday after US President Donald Trump’s top economic adviser hailed “positive” trade talks with Chinese negotiators.
The Dubai Financial Market (DFM) has announced that its listed companies have recorded a 96 per cent compliance regarding the disclosure of Q2-2019 results within the deadline of 45 days from the end of the period.