Workers outside the Deutsche Bank office in London. Reuters
Deutsche Bank’s chief executive is prepared to make “tough cutbacks” in its investment banking business, whose future is in doubt after several failed restructurings, in order to be profitable and competitive. Shares in Deutsche Bank hit a record low on Thursday as Christian Sewing kicked off its annual meeting,
Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia.
Deutsche Bank laid off staff from Sydney to London on Monday as it began 18,000 job cuts in an $8.3 billion “reinvention” which Germany’s largest lender said would mean yet another annual loss, knocking its shares.
Deutsche Bank plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global equities business and scale back its investment bank.
India’s current account (CA) balance deficit grew to $68 billion in 2018-19 from $49 billion the previous year, according to the International Monetary Fund (IMF), which said the deficit was justified by development needs.
After successful hospitality venture UAE’s leading business giant Danube Group, enters into the healthcare division with the launch of American Aesthetic Medical Center on Wednesday in Dubai.
Global shares slipped on Thursday on growing signs that a trade dispute between the United States and China was taking a toll on corporate earnings, with nerves spreading from Wall Street through Asia to European markets.
Canadian University Dubai (CUD) has recently joined forces with two more leading names in the hospitality industry to help boost the skills supply to the UAE tourism sector as Dubai prepares to attract 25 million visitors by 2025.