Amazon.com (NASDAQ:AMZN) reported second-quarter results that topped analysts’ estimates and delivered upbeat guidance for Q3 as growth in its cloud business topped estimates. Amazon.com rose more than 8% in pre-market Friday trading following the report. Amazon reported Q2 EPS of $0.65 on…
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US and European long-only fund managers were net sellers of Chinese and Hong Kong stocks in July, according to Morgan Stanley. The nascent rebound in Chinese shares is at risk of becoming yet another false dawn as foreign investors seem…
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Country Garden Holdings cancelled a HK$2.34 billion (US$300 million) share placement, IFR reported, citing a message sent to investors, the latest setback for one of China’s largest private-sector developers. The primary share placement was cancelled shortly after midnight, sole bookrunner…
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According to a forecast by investment bank Goldman Sachs, India will overtake the United States as the world’s second largest economy by 2075. The report said that the main downside risk for India’s economic growth would be if the labour…
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The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the…
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The Federal Reserve resumed raising interest rates and chair Jerome Powell left open the possibility of further hikes, which he emphasized will depend on incoming data that has recently signalled a resilient US economy. After pausing rate increases in June,…
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Mohamed Maait, the Minister of Finance, said that the Customs Authority has released imported goods, merchandise, and products at various ports and custom outlets worth $131bn in 21 months, until the end of last June, out of a total of…
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LONDON (Reuters) – The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193 billion) over the next 10 years as it unwinds its quantitative easing (QE) gilt purchases, up…
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RIYADH: Visitors to AMAALA, one of the world’s most well-preserved natural environments in Saudi Arabia’s Red Sea, will soon experience a new resort with a focus on sports, fitness and lifestyle. The Public Investment Fund-owned Red Sea Global and US firm…
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The Central Bank of Egypt (CBE) signed two Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) to expert exchanges in the areas of fintech, innovation, e-payment solutions, and financial inclusion. The collaboration aims to leverage both countries’…
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