A woman rides past the headquarters of the People’s Bank of China in Beijing. Reuters
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,
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.
The leaders of China, France, Germany and the EU were set to meet in Paris on Tuesday for “unprecedented” talks on how to improve ties, despite growing jitters over Beijing’s massive investments in Europe.
NATIONS: Russia sent home nearly two-thirds of some 30,000 North Koreans working there during 2018 and China repatriated more than half, but did not specify a figure, according to unpublished reports by Moscow and Beijing to the United Nations Security Council.
It was a stark warning about the risks ahead for the global economy, even by the forthright standards of the boss of the Organisation for Economic Co-operation and Development (OECD).
Nasher, the UAE’s first website dedicated to all matters related to the publishing industry, organised a Ramadan panel discussion ‘UAE Youth and Investment in the Publishing Sector’, to discuss the reality of publishing industry and the key role of Sharjah Publishing City Free Zone (SPCFZ) in supporting this sector.
Prime Minister of Mali, Boubou Cisse, has been briefed on the role played Khalifa Fund for Enterprise Development in ramping up the SMEs sector in the country. This came as the African premier and his accompanying delegation visited the Fund’s premises Thursday
China’s Huawei, hit by crippling US sanctions, could see shipments decline by as much as a quarter this year and faces the possibility that its smartphones will disappear from international markets, analysts said. Smartphone shipments at Huawei, the world’s second-largest smartphone