Asian shares are mostly higher after President Joe Biden and House Speaker Kevin McCarthy reached a final agreement on a deal to raise the U.S. national debt ceiling. Tokyo, Sydney and Shanghai advanced while Hong Kong fell. Markets in Seoul were closed for a holiday. The agreement on the US debt
UBS said on Monday it will complete its takeover of Credit Suisse ‘as early as June 12’, creating a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year, according to Reuters. Completion is subject to the registration statement,
Exim Bank has recently inaugurated a service booth for the pilgrims at the Ashkona Hajj Camp in Dhaka, according to a press release. Joint Secretary of the Ministry of Religion and Director of Hajj Office Md Saiful Islam was present as the chief guest in the inaugural ceremony while Managing Direc
Asian stocks rose on a rally in regional chip shares on Monday after China banned some purchases from Micron Technology, while Wall Street futures struggled as US debt ceiling negotiations approached crunch time after stalling last week. Europe is set to extend the caution, with pan-regional Euro
Global equity funds suffered outflows for a fifth straight week in the week to May 17, undermined by uncertainties over US debt ceiling and concerns about global economy, with soft economic data coming out of the US and China, reports Reuters. According to Refinitiv Lipper data, global equity fund
Walt Disney Co is scrapping plans to build a nearly $1 billion corporate campus in central Florida that would have housed 2,000 employees, according to an e-mail to employees on Thursday, against the backdrop of its ongoing legal battle with Florida Governor Ron DeSantis. Disney parks chief Josh D
Asian shares were mostly higher on Tuesday even though the latest data showed China's economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic. Benchmarks advanced in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney. China's ec
Two Adani group companies including the Indian conglomerate's flagship firm announced plans on Saturday to raise up to $2.57 billion from the market, months after a short-seller report battered investor confidence and drove share prices down. India's Adani Transmission said its board approved a pl
Asian shares were mostly higher on Monday as investors braced for a week where U.S. inflation data will test wagers the next move in interest rates will be down, while worries about a possible credit crunch weighed on the dollar. Friday's robust U.S. payrolls report has already delivered a se
The New York Stock Exchange said on Tuesday it will delist shares of First Republic Bank, the lender that was seized by regulators before JPMorgan Chase & Co acquired most of its assets. Apart from the company's common stock, seven different types of its preferred stock will also be delisted. Trad
Deutsche Bank is to cut 800 jobs in a new cost-saving drive after reporting a bigger than expected rise in profit for the first quarter, a volatile period globally for finance companies. Germany's biggest bank produced solid earnings at a time when banks had to be rescued in the United States and
Johnson & Johnson said on Monday it was seeking a valuation of up to $42.95 billion in the initial public offering of its consumer health unit, Kenvue, at a time when investor appetite for new listings has been muted. The announcement sets the stage for what is expected to be one of the marquee li
HSBC's most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank's largest investor, Ping An, about their controversial proposals to spin off the lender's Asia business. Top management executives of Ping An Asset Management, an investment
