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.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received on Sunday, the President of the World Bank Group, David Malpass and an accompanying delegation,
In a major setback for India’s economic outlook, a World Bank report on Sunday estimated India’s economic growth in the current fiscal at 6 per cent, lower than the Reserve Bank of India’s latest revised outlook of 6.1 per cent.
The new coronavirus epidemic poses a “serious threat” and will slow growth in the world economy to below the 2.9 per cent posted last year, IMF chief Kristalina Georgieva said on Wednesday.