National Bank of Canada reported a first-quarter profit of $997 million, up from $922 million a year earlier, helped by strength in its wealth management and financial markets operations. The Montreal-based bank said Wednesday the profit amounted to $2.78 per diluted share for the quarter ended Jan. 31, up from $2.59 per diluted share a […]
Investors in US government bonds are starting to bet the Federal Reserve will soon need to pivot from worrying about sticky inflation to fretting about slowing economic growth. That sentiment helped drive Treasuries to gain for a sixth straight session, which has pushed yields to their lowest levels of the year. Meanwhile, strategists at Morgan […]
According to a statement from an industry regulator on Wednesday, money lost to fraud in Nigeria’s banking sector has almost tripled over the last five years. An analysis released by the Nigeria Inter-Bank Settlement System revealed that 52.3 billion naira ($34.8 million) was lost to fraud in 2024, compared to 11.6 billion naira in 2020. […]
The signing ceremony took place at the headquarters of Thai Binh People’s Committee on February 25. Geleximco’s strategic partners for this initiative are Nguyen Tin Industrial Investment Co., Ltd. and Bach Tan Technology Co., Ltd., key players in China’s vehicle and vehicle parts industry. The parties will set up a joint venture company supplying parts […]
On February 19, 2025, Minister of Industry and Trade Nguyen Hong Dien discussed with Binh Dinh People’s Committee on a groundbreaking proposal by Syre Group, a Swedish textiles impact company focused on hyperscale textile-to-textile recycling. The factory would require around 300,000 to 400,000 tonnes of raw materials per year. According to the group’s survey, domestic […]
U.S. President Donald Trump’s administration will abolish the EB-5 immigrant investor visa program and replace it with the “Gold Card” for those who will be able to pay $5 million to the U.S. government, Commerce Secretary Howard Lutnick said Tuesday. Lutnick made the remarks, casting the EB-5 program as “full of nonsense” and a way […]
Indonesia has officially introduced Danantara, a sovereign wealth fund (SWF) designed to reshape the country’s investment landscape. With an initial asset pool of $20 billion, the fund is expected to optimize national wealth through investments in key sectors. The government hopes this initiative will drive Indonesia’s economic growth to 8% while attracting more foreign investors. […]
Kbank has adopted a large language model (LLM) on its path to becoming an artificial intelligence (AI)-powered bank, the internet-only lender said Wednesday. It is the first online-only bank in Korea to integrate an LLM for its business at a time when AI is accelerating digital transformation in the finance sector. An LLM is an […]
Private equity deals in the Middle East and North Africa region totaled $27.6 billion between 2020 and 2024, with a compound annual growth rate of 14 percent, driven largely by Saudi Arabia and the UAE, according to a new report. While the UAE dominated deal activity from 2020 to 2022, Saudi Arabia overtook it in […]
Europe’s leaders to the East are piling pressure on the EU to release hundreds of billions of dollars worth of frozen Russian assets to fund Ukraine’s war effort as relations with the U.S. deteriorate. Leaders from Poland, Estonia, and Finland have in the last week added to growing calls to liquidate Russian central bank reserves, […]