HYUNDAI Motor could raise as much as US$3.5 billion from the eagerly anticipated initial public offering of its Indian unit, people familiar with the matter said, easily making it the biggest to ever take place in the country.
THE three local banks were trading at elevated levels over the first half of Tuesday’s (Jul 2) trading session, following an initially mixed showing at the opening bell.
THE share prices of the three local banks traded at record highs on Tuesday (Jul 2) after the midday break, with OCBC and UOB breaching all-time records after an initially mixed showing at the opening bell.
RESIDENTS here are closer to the day when they will be able to make instant and cheap cross-border money transfers to four other Asian countries via local apps such as PayNow.
THE World Bank Group said on Monday (Jul 1) it had started operating a new one-stop-shop loan and investment guarantee platform which it hopes will triple the provision of guarantees and risk insurance provided around the world to US$20 billion a year.
US DOLLAR loan sales for the first half across Asia excluding Japan tumbled to their lowest since 2010 as higher borrowing costs in the greenback deterred companies, who opted for other financing routes or looked to defer such plans if possible.
SWISS bank UBS has completed the merger of its domestic unit with Credit Suisse’s operations in its home market, the bank said on Monday (Jul 1), adding that the head of the Credit Suisse business was leaving the bank.
BRITISH consumers increased their borrowing in May by the most in four months after a dip in April, Bank of England data showed on Monday (Jul 1), adding to signs of recovering momentum in the country’s economy.
CHINA Construction Bank Corp (CCB), the nation’s second-largest commercial bank by assets, has asked employees at its headquarters to take a pay cut of at least 10 per cent, two sources with knowledge of the matter said on Monday (Jul 1).
MORGAN Stanley is scrapping a cap on bonuses for bankers in the City of London, underlining the shift among US and UK lenders towards paychecks that look more like the bonus-heavy packages of their New York counterparts.
