Saudi wealth fund signs $50 bln of deals with Chinese financial firms

Saudi Arabia’s sovereign wealth fund PIF has signed six memorandums of understanding (MoUs) worth a total of $50 billion with leading Chinese financial institutions, the fund said in a statement on Thursday.

Real estate investment trust Kimco Realty topped market expectations for second-quarter revenue and lifted forecast for annual funds from operations on Thursday, helped by steady leasing demand at its grocery-anchored shopping centers.

Intercontinental Exchange reported an estimate-beating profit rise of 9% in the second quarter on Thursday, helped by strong performance in its exchange business as trading remained robust.

The three equity owners of Portugal’s Novo Banco appear to be in agreement that they should lift a ban on the bank making dividend payouts, which would allow the lender to launch an initial public offering in early 2025, CEO Mark Bourke told Reuters on Thursday.

Apollo Global Management reported flat second-quarter adjusted net income on Thursday that missed Wall Street’s expectations, as a spike in revenue generated from fees was offset by a drop in income from its retirement business.

Indian authorities may issue notices soon to more major IT services firms in an investigation of alleged tax evasion related to work done by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand.

India’s third-most valued state-run lender Bank of Baroda expects to receive 100 billion rupees ($1.2 billion) through bad loan recoveries in the financial year ending March, led by corporate and small-ticket loans, its chief executive officer said on Thursday.

Mediobanca CEO on Thursday highlighted that Italy’s banks are already big tax payers when asked about media reports on a possible new domestic tax on banks and insurance groups.

Portugal’s fourth-largest bank, Novo Banco, reported a near 1% drop in first-half net profit on Thursday as higher impairments and provisions countered a robust rise in interest income, while it also strengthened its capital.

Mitsubishi UFJ Financial Group (MUFG) recorded higher loan and deposit interest income in Japan and overseas in the April-June period, but the impact of the end of negative interest rates on domestic lending profitability proved muted.

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