Adani Enterprises Ltd (ADEL.NS), opens new tab is likely to launch a $1 billion share sale by mid-September, three sources with direct knowledge of the matter told Reuters, in the latest attempt by Indian billionaire Gautam Adani to restore his empire’s fortunes. The share sale will be the second by an Adani group company this year after […]
HSBC Holdings (HSBA.L), opens new tab announced a $3 billion share buyback and upgraded its income outlook on Wednesday, as the bank showed progress in its efforts to shield its business from global interest rate cuts that may hit lending revenue. The lender’s shares rose 4% in London as investors cheered its stable first-half profit growth, gains […]
Global private credit firms, including industry leader Ares Management, are increasingly focused on Italy as more small businesses which are the backbone of its economy open up to outside investors, providing buyout deal opportunities. With 140 direct lending deals completed over the past 45 quarters, Italy accounts for just 4.3% of continental Europe’s overall transactions, […]
This decision comes as Ethiopia strives to advance its long-standing debt restructuring. The second most populous country in Africa received a $3.4 billion program from the International Monetary Fund on Monday, following the decision to float its birr currency by the central bank, allowing for progress in its debt restructuring. Source: africanews
Once abundantly dispersed across China to serve the banking needs of more than a billion people, physical bank branches and ATMs have seen their numbers dwindling as the public embraces e-payment platforms and financial institutions cut costs. And as most of the public can use their phones to conduct banking and monetary transactions, closures have […]
Australia’s Woodside Energy (WDS.AX), opens new tab said on Monday it had agreed to buy U.S. liquefied natural gas developer Tellurian (TELL.A), opens new tab, including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 billion including debt. The agreement could strengthen the United States’ position as the world’s largest producer of the superchilled gas by securing […]
China Bohai Bank (9668.HK), opens new tab said on Monday it is looking to sell 29 billion yuan ($3.99 billion) worth of non performing loans as the faltering Chinese economy and deepening property sector problems pressure lenders to dispose of bad assets. The Tianjin-based bank, 16.2% owned by British lender Standard Chartered (STAN.L), opens new tab, expects a […]
Hong Kong’s bourse operator has expanded its collaboration with two exchanges in the United Arab Emirates (UAE) to pave the way for its companies to list here, as a government advisory body said it plans to examine Islamic finance to align the city’s financial infrastructure with the needs of the Middle East. Hong Kong Exchanges and […]
Asia’s foreign reserves have dropped this year as central banks have intervened to support their currencies, with Japan, Indonesia and South Korea leading the declines. Foreign reserves across 12 countries, from Japan to India, fell about $50 billion to $7.5 trillion by the end of June. They had risen 2.2% in the same period last […]
Several U.S. mid-sized and regional banks reported a fall in their second-quarter profit, as income from charging customers interest was squeezed by higher deposit costs and tepid demand for loans. Most U.S. banks are expecting a decline in net interest income (NII) this year as high interest rates have impeded loan activity, while efforts to […]