Bloomberg Higher Canadian interest rates don’t appear to be worsening the pain for consumers, yet. Some 53 percent of Canadians say rising borrowing costs haven’t had a negative impact on their personal spending, according to a survey by Nanos Research taken earlier this month. Around 43 percent of respondents say they are feeling at least somewhat of a pinch, with ...

Bloomberg Bank of East Asia Ltd. slumped the most since July 2015 following news it will be cut from Hong Kong’s Hang Seng Index along with China Merchants Port Holdings Co., which also tumbled. BEA closed down 5.8 percent on Monday, making it the worst performer on the Hong Kong benchmark, even after paring some earlier losses. China Merchants Port ...

Bloomberg Malaysia has a higher proportion of female investment bank chiefs than any other big country. In the male-dominated world of investment banking, women are increasingly rising to the top in a place you might not think to look. Malaysia, a predominantly Muslim country better known for its recent political turbulence than its gender diversity, now has female bosses at ...

Bloomberg Morgan Stanley is promoting a pair of dealmakers in Southeast Asia, with one banker rising from intern to a senior position in just seven years. The US firm has appointed Jannie Tsuei, who started as an intern in New York in 2011, as chief operating officer for Southeast Asia investment banking, according to an internal memo obtained by Bloomberg. ...

Bloomberg Deutsche Bank AG has almost finished restructuring its Asian investment-banking business and plans to add bankers in the coming months, said regional head James McMurdo. “Yes we did trim, but we trimmed where we thought we were less competitive, or where we thought the opportunity was not that significant and that has largely been completed,” McMurdo, who leads corporate ...

Bloomberg The internationalisation of the yuan has happened “earlier than expected,” but China should be keeping a low profile and not push it aggressively, former central bank Governor Zhou Xiaochuan said. The loss of trust in the dollar after the global financial crisis and other external events were factors increasing the use of the currency internationally, and China cannot force ...

ABU DHABI / WAM Adnoc Distribution has reported that net profit for the six months ended June 30, increased by 18 percent to AED1,124 million compared with the same period last year. According to a press statement, EBITDA grew by 30 percent to AED1,443 million, and gross profit rose by 24 percent to AED2,609 million. Free cash-flow generation was up ...

Abu Dhabi / Emirates Business Eshraq Properties, the Abu Dhabi based real estate company listed on Abu Dhabi Securities Exchange (ADX), reports a net profit of AED14.8 million for the first half of 2018 versus a net loss of AED0.32 million for the same period last year. The results are the best half-yearly results for the company since the first ...

Dubai / Emirates Business Amanat Holdings, the GCC’s largest healthcare and education investment company, reported a net profit of AED27.9 million in H1 2018, delivering double-digit gro-wth of 12% over the same period last year. The strong half-yearly performance is underpinned by the firm’s active deployment of capital. Total revenue generated in the first half of 2018 reached AED51.9 million, ...

Ras Al Khaimah / WAM The Federal Tax Authority (FTA) has officially launched phase one of its “Tax Clinic” initiative, which seeks to maintain direct and constant communication with taxable businesses. For three months, the campaign will cover all seven emirates to raise tax awareness across the country, urging taxable businesses to register with the Authority and promoting compliance with ...