DUBAI (Reuters) – Banking group Citi has appointed Omar Hafeez as head of its North Africa, Levant and Central Asia operations based in Dubai after a reorganisation of the company’s MENA region, it said on Monday. Hafeez transfers from Japan, where he was head of the corporate banking business, the third largest for Citi globally….
TOKYO – Japan’s services activity grew at a record pace in April, a private-sector survey showed on Monday, helped by a boost in consumer spending following the end of COVID-19 pandemic restrictions. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) climbed to a seasonally adjusted 55.4 last month from March’s 55.0. GRAPHIC…
By Kane Wu and Anirban Sen HONG KONG/NEW YORK (Reuters) – Bain Capital is seeking to raise $4 billion for a new global “special situations fund” as the U.S. firm sees an opportunity to snap up distressed investments in a broad range of asset classes, two people familiar with the matter said. Bain Capital kicked…
By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Monday as investors braced for a week where U.S. inflation data will test wagers the next move in interest rates will be down, while worries about a possible credit crunch weighed on the dollar. Friday’s robust U.S. payrolls report has already delivered a setback…
SYDNEY (Reuters) – Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, while cost pressures were still posing a challenge for firms. The survey from National Australia Bank Ltd (NAB) released on Monday showed its index of business conditions fell two points…
By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Monday as investors braced for a week where U.S. inflation data will test wagers the next move in interest rates will be down, while worries about a possible credit crunch weighed on the dollar. Friday’s robust U.S. payrolls report has already delivered a setback…
By Roushni Nair (Reuters) -Australia’s Westpac Banking Corp on Monday warned of “intense” mortgage competition pressuring its margins in the current half, and said it was dropping a cost target to instead focus on relative peer performance because of high inflation. Westpac, which previously benefited from a bold cost-cutting strategy, disclosed plans to move away…
(Reuters) – Australia’s Westpac Banking Corp on Monday posted a 22% jump in first-half net profits as margins improved on the back of rising interest rates but warned tough mortgage competition will negatively impact margins going into the second half. Over the past year, aggressive monetary tightening boosted banks’ earnings and margins. However, that could…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets are set for a positive start to the week on Monday after strong U.S. jobs data on Friday soothed recession and banking sector fears, and sparked the best day for world equities in five months. The…
(Reuters) – Crypto exchange Binance said that it has resumed Bitcoin withdrawals after a brief closure due to a congestion issue. Binance had paused withdrawal of Bitcoin, the world’s largest cryptocurrency, for more than an hour. Binance did not provide any further details on the issue. The world’s largest crypto exchange on March suspended deposits…
