HDI Global SE continues its international expansion receiving a regulatory license from Dubai Financial Services Authority (DFSA) to open an office in Dubai. The new local presence in Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East. The new
Arab Bank Group reported solid results for the first half of 2024, with a 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The group maintained its strong capital base with a total equity of $11.5 billion. Assets grew by 5% reaching $68.7
The United Arab Emirates hopes to reactivate trade talks with the European Union by the end of the year, the UAE trade minister has said, and is optimistic the talks would be bilateral. Negotiations between the EU and the Gulf Cooperation Council, a six-country Arab bloc that includes the UAE and Saudi Arabia, remain stalled.
India will spend $24 billion in job-spurring efforts over the next five years and boost rural spending, Finance Minister Nirmala Sitharaman said in the 2024/25 budget, unveiled after last month’s election setback for the government. Analysts blamed distress in rural areas and a weak job market for a poor poll showing that cost Prime Minister
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
