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.
Pakistan and the World Bank on Tuesday signed three loan agreements worth $918 million to help support revenue mobilisation and higher education development in the country.
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,
Small businesses are vital to the UAE’s socio-economic development as they help generate jobs, open substantial opportunities for innovation, diversify the national economy,
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.
The mergers, which cut to 12 the total number of state-owned banks from 27 in 2017, are the first since Indian Prime Minister Narendra Modi's government won re-election in late May.
Myanmar has been rocked by almost daily protests since the army overthrew Aung San Suu Kyi's elected government and installed the junta. Suu Kyi, who won the Nobel Peace Prize in 1991 for her campaign to bring democratic civilian rule to Myanmar,
Egypt’s economy recorded an annualised growth rate of 2% in the second quarter of its 2020-21 fiscal year, and 1.35% in the first half of the same, Planning Minister Hala Al Saeed said.
The International Monetary Fund (IMF), will raise its forecast for global economic growth in 2021 and 2022 after last year’s 3.5% contraction, but financial conditions remain highly uncertain, IMF Managing Director Kristalina Georgieva said on Tuesday.
The Southeast Asian country has been in crisis since the army seized power and detained civilian government leader Aung San Suu Kyi and much of her party leadership after the military complained of fraud in a November election.