According to the latest reports, banking major Morgan Stanley is cutting at least 50 investment banking jobs in Asia Pacific becoming the latest among global banks to scale back operations in the region. The layoffs affect around 13% of the bank’s Asia investment banking workforce of 400 in the region, the report added. Bankers based
The European digital bank Bunq recently announced a net profit of €53 million for 2023 in its annual report. The company also informed that it got a fresh capital injection of €29 million from its existing shareholders. This is part of Bunq’s plans for growing in other markets, as well as to ensure compliance with
Making a significant remark on key economies of Asia and Pacific, the United Nations, in a report, stated that the governments of developing Asia-Pacific countries are in urgent need of affordable and long-term financing. It said that many of them are being forced to choose between servicing debt in a high interest rate environment or
With a multitude of successful operations in Europe and the Middle East, securitization and wealth management company DHF Capital SA recently ventured into the thriving market of Bahrain with the goal of providing value to stakeholders and investors and promoting long-term, sustainable growth in the country. As the GDP of the GCC is expected to
The sixth edition of the ‘EcoLearn Summit 2024 – From Dubai to the World’ sponsored by Tickmill LTD, concluded successfully, leaving attendees inspired and equipped with invaluable insights into financial management. The summit was dedicated to fostering awareness about the critical importance of financial education. Bringing together industry leaders, educators, and enthusiasts, the summit showcased
Japan’s central bank recently scrapped its negative interest rate as it finally began unwinding one of the world’s most aggressive monetary easing programs. After announcing its first increase in 17 years, the Bank of Japan said it was changing its short-term policy rate from -0.1 % to between zero and 0.1 %. Officials “assessed the
Swiss banking giant UBS will look for merger and acquisitions opportunities in the United States in the next few years, its chairman told the media recently. UBS, which took over former rival Credit Suisse last June, wants to expand its US wealth-management business through potential M&A in the next three or four years, Colm Kelleher
The 20th anniversary edition of the Capgemini Research Institute’s World Retail Banking Report, published today, reveals 80% of retail bank executives believe that generative AI represents a significant leap in advancing AI technology. However, only 6% of retail banks are ready with a roadmap for enterprise-wide AI-driven transformation at scale. As a result of macroeconomic
Finance professionals in India are in line for higher salary hikes than those in Hong Kong and Singapore this year, underscoring how firms are tapping the nation’s economic boom as China slows, as per industry insiders. Salaries in India could rise by 10% in 2024, analyst Sarah Jane Mahmud wrote in a note Friday, citing
BKN301 Group, a leading payment and Banking-as-a-Service provider in the MENA region, is driving innovation with its ‘White-Label’ Banking-as-a-Service solutions to create tailored services that cater to a diverse clientele, with a particular emphasis on traditional banks and fintech companies, including neobanks. With its commitment to innovation, BKN301 has positioned White-Label solutions as the foundation
