Indian banks’ operating environment has strengthened as economic risks associated with the COVID-19 pandemic have ebbed and as lenders have built appropriate buffers against potential stress, Fitch Ratings said on Wednesday.
Brazil’s Nubank on Tuesday reported record revenue for the second quarter as the Warren Buffett-backed digital banking firm logged a surge in new customers.
Norway’s $1.4 trillion wealth fund, the world’s single largest stock market investor, is urging firms it invests in to engage with artificial intelligence as a way to drive profits, but to do so responsibly, top officials told Reuters.
Australia’s corporate regulator said on Wednesday it had asked the country’s general insurers to improve their claims handling practices and resources after it found issues in multiple areas in a review.
Norway’s sovereign wealth fund made a profit of 1,501 billion crowns ($143 billion) for the first half of the year, partly due to the growth of U.S tech companies and their development of artificial intelligence.
Grupo SURA , Colombia’s largest investment company, on Tuesday cut its 2023 net profit forecast to between 2,400 and 2,700 pesos per share, following an agreement earlier this year to divest its stake in food processing firm Nutresa .
Minneapolis Federal Reserve President Neel Kashkari on Tuesday said that while the U.S. central bank has made some progress in its inflation fight, interest rates may still need to go higher to finish the job.
A Moscow court has banned UBS and its recently-acquired Swiss rival Credit Suisse from disposing of shares in their Russian subsidiaries, court documents showed, after a request from Zenit Bank which is concerned about losing out if they exit Russia.
Chinese fears of a spillover from missed payments on some shadow banking linked trust products and worsening consumer sentiment are expected to hasten a policy response to revive the country’s cash-starved property sector.
An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase , could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday.
