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UniCredit pledges payout of 5.3 billion euros after posting record profit

UNICREDIT pledged on Tuesday (Jan 31) to return 5.3 billion euros (S$7.48 billion) to investors, after it posted a record profit for the fourth quarter of 2022.

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UBS profit beats estimates as rates offset trading slowdown

UBS Group reported fourth-quarter profit that beat expectations, and said that it plans to buy back more than US$5 billion of shares this year, as rising interest rates helped offset a slump in trading fees and transaction income in its key wealth-management business.

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Indonesia finance minister Sri Mulyani among candidates for top central bank job: sources

INDONESIA’S finance minister Sri Mulyani Indrawati is among candidates being considered to be the next central bank governor, replacing the current chief whose term ends in May, according to five sources familiar with the matter.

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Moody’s downgrades Vietnam’s banks to ‘stable’ on real estate headwinds

CREDIT rating agency Moody’s on Monday (Jan 30) changed its outlook on Vietnam’s banking system from “positive” to “stable”. The downgrade comes amid growing asset risks from stress in the real estate sector, and deteriorating profitability due to higher funding costs.

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Australian dollar sideswiped by dire data, still up on month

THE Australian dollar wobbled on Tuesday after data showed retail spending took a shock tumble in December and likely dragged on economic growth, trimming expectations for how much further interest rates might have to rise.

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Central banks told to keep rate hiking until inflation all-clear

GLOBAL central banks mustn’t let up on raising interest rates until it’s absolutely clear that inflation is durably retreating, according to a senior International Monetary Fund (IMF) official.

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Fed funds borrowing leaps to new high as banks scramble for cash

TRADING in a key overnight funding market surged to the highest in at least seven years, an indication Federal Reserve tightening is putting increasing pressure on liquidity in the banking system.

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Malaysia PM Anwar tells Goldman to pay up on 1MDB settlement

MALAYSIAN Prime Minister Anwar Ibrahim demanded that Goldman Sachs Group honour its settlement with the government for its role in the 1MDB scandal, saying the Wall Street firm shouldn’t use its financial strength to dictate terms.

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Pay up on 1MDB settlement, Anwar tells Goldman

MALAYSIAN Prime Minister Anwar Ibrahim demanded that Goldman Sachs Group honour its settlement with the government for its role in the 1MDB scandal, saying the Wall Street firm shouldn’t use its financial strength to dictate terms.

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BlockFi approved to set up auction for crypto mining business

BLOCKFI won bankruptcy court approval to set up an auction for the crypto lender’s digital coin mining business.

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