Rising expectations that former President Donald Trump will regain the White House in November are supercharging the so-called Trump trade, on views that his policies will lift corporate profits even while spurring worries about the country’s long-term fiscal health. The two sides of the trade have been evident in recent weeks, as investors price in
HSBC Holdings Plc has appointed its Chief Financial Officer Georges Elhedery as its next CEO, the bank said, a choice that highlights the global lender’s preference for continuity as it looks to kickstart growth. Elhedery, 50, who becomes HSBC’s third chief executive in less than eight years, will replace outgoing head Noel Quinn from Sept.
Turkey and Qatar saw the fastest growth in individual household wealth in local currency terms in 2023 as global wealth resumed its rising trend following the impacts of the pandemic and inflation. Wealth per adult grew in Türkiye by 157% in local currency terms, with the low value of the lira playing a role, but
Lawmakers in Brazil’s lower house have approved the main text of a bill that would carry out a major tax overhaul, which aims to boost productivity by streamlining a tax system critics blame for burdening businesses with excessive costs. The lawmakers in the chamber are proceeding to additional votes on amendments to the proposal. The
Indonesia’s President-elect Prabowo Subianto wants to give school children free meals, but the plan and his pledge to be ‘daring’ on spending have the country’s debt and currency markets on edge. Prabowo and his team have tried to distance themselves from any suggestions of fiscal profligacy, and to assure market participants the incoming government respects the
Switzerland’s consumer pricing watchdog has put UBS under observation following its takeover of Credit Suisse, the regulator has said, amid concerns that the market power of the enlarged lender could lead to higher loan charges. The supervisor had met with financial market regulator FINMA, competition authority ComCo and the Swiss National Bank to discuss consequences
Relm Insurance Ltd has stepped into the MENA region through the acquisition of B&F Partners Ltd., now known as Relm Insurance MENA Ltd. This strategic move enables Relm Insurance to commence operations via its Dubai-based affiliate with a Category 4 licence authorised by the Dubai Financial Services Authority (DFSA). This move solidly positions Relm as
OpenFi, a conversational AI platform for lead generation and customer nurture, announced it has closed a €585k pre-seed funding round. Led by Bijan Morvaridi with additional investments from Fortune Green Capital Ltd and Foundation Ventures Ltd, the funding will be used to expand the product team, build the second version of the platform, integrate with
Shakespeare Communications, a boutique PR firm based in Dubai, has announced its newest client, Krypton Global Investment Consultants LLC (KGI). KGI is a leading consulting firm headquartered in the UAE, with additional offices in Mumbai and London, and ambitious plans to expand into the US and Southeast Asia. The latest client win adds another exciting
Australian lender ANZ has been sanctioned for failing to stop or refund fees for dead customers and not responding to their representatives within a required time frame, a committee that looks at the banking industry’s practices has said. The Banking Code Compliance Committee, a self-regulation body, had in June 2023 come out with its “Deceased
