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China Life profit falls 37% on stock market slump, Covid impacts

CHINA Life Insurance said profit fell 37 per cent last year as a stock-market rout eroded investment returns while Covid lockdowns and outbreaks hampered sales.

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Investors pull US$1.6 billion from Binance after CFTC lawsuit

INVESTORS withdrew US$1.6 billion of cryptocurrency from crypto exchange Binance since it was sued by the US CFTC on Monday (Mar 27), blockchain data tracker Nansen said on Wednesday.

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Bank of Singapore appoints Ranjit Khanna as global market head of Middle East

INDUSTRY veteran Ranjit Khanna will join Bank of Singapore as its global market head of Middle East and chief executive of its Dubai International Financial Centre (DIFC) branch, the bank announced on Wednesday (Mar 29).

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The only cure for the bank-run contagion is time, but the damage is already done

THE current banking crisis proves that – even after reforms brought on by the Great Depression and the global financial crisis – the financial system has few defences against periodic bouts of primal fear.

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BOE says global investors’ appetite for risk is falling sharply

THE Bank of England said global investors are reining in their appetite for risk sharply due to turmoil in the financial system, and that more than half of respondents to a survey early this year are braced for a “high-impact” event.

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UBS brings back Ermotti as CEO to oversee Credit Suisse deal

UBS Group is bringing back Sergio Ermotti as chief executive officer to oversee the complicated acquisition of Credit Suisse Group, replacing Ralph Hamers after a tenure that lasted just over two years.

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Demand rises for latest Singapore Savings Bond with 10-year average return at 3.15%

THE latest Singapore Savings Bond (SSBs) allotted on Wednesday (Mar 29) experienced a rise in applications and exceeded the amount on offer, after months of falling demand due to declining yields.

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Japan’s Dai-ichi Life turns US$260 billion portfolio back to JGBs

DAI-ICHI Life Holdings, one of Japan’s largest institutional investors, is shifting more money to domestic bonds from Treasury and other foreign securities, after aggressive interest rate increases by the Federal Reserve made it costly to hedge against currency risks.

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Barclays CEO calls cutting emissions ‘defining’ issue for banks

BARCLAYS (CEO) chief executive officer CS Venkatakrishnan said the shift to a low-carbon economy is one of today’s “defining issues”.

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Jefferies profit falls as dealmaking slump trims results

JEFFERIES Financial Group’s profit plunged in its fiscal first quarter, as a bump in equities and fixed-income trading failed to offset a slump in investment banking.

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