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Cherat Cement & Shirazi Investments Aim to Take Majority Control of Rafhan Maize
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On May 9, Cherat Cement Company Limited (CCCL) along with Shirazi Investments (Private) Limited announced their plan to purchase up to 75.69% of the shares in Rafhan Maize Products Company Limited (RMPL). RMPL is among the biggest players in Pakistan’s agribusiness sector. The Manager of the Offer, Topline Securities, reported this development in an…
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OCBC Reports 5% Rise in Net Profit to S$1.88B in Q1 2025
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The earnings per share for the quarter stand at S$1.68. Oversea-Chinese Banking Corporation According to OCBC’s most recent performance highlights report, the bank recorded a net profit of S$1.88 billion for the first quarter of 2025, which represents a decline of 5% compared to the same period in 2024. In comparison to Q4 2024,…
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Finance Ministry Seizes Emergency Measures to Shield Markets
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Pakistan, May 7 — Amid rising geopolitical tensions with India, the Finance Ministry of Pakistan has reinforced contingency measures to protect financial operations and ensure resilience across the country’s economic institutions. The move follows Indian airstrikes on six sites in Punjab and Azad Jammu and Kashmir, prompting retaliatory action by Pakistan’s military, which downed…
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Stock Markets Plunge as Tensions Rise Between Pakistan and India
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On May 7, Pakistan reported that after India took swift action against Pakistan during the night, the Bombay Stock Exchange showed a weak opening for trade. The market commenced with a significant decline, highlighting how swiftly military developments can impact investors’ moods and erode market trust, resulting in a difficult beginning. Trading on the…
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Infobip and MoneyGram Haas F1 Team Partner Up to Revolutionize F1 Fan Experiences
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PRNewswire Kuala Lumpur [Malaysia], May 6: The global cloud communication platform Infobip has entered into a multi-year agreement with MoneyGram Haas F1 Team, helping the Team to create deeper connections with fans worldwide. Infobip’s technology will power a new era of digital engagement, delivering real-time, personalized experiences that bring fans closer to the action.…
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National Australia Bank’s credit losses to remain low
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Its CET1 ratio is expected to rise once it concludes the sale of its stake in MLC Life Insurance. National Australia Bank ’s (NAB) credit losses are anticipated to remain low over the next two years, close to pre-pandemic levels, according to S&P Global Ratings. The Melbourne-headquartered bank reported a 1% increase in cash…
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National Insurance Hike Boosts ‘Cash-in-Hand’ Practices
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The increase in employers’ National Insurance contributions raises the likelihood that companies might opt for undeclared cash payments to employees, according to a study commissioned by the Northern Ireland Executive’s finance department. From April employers have had to pay NI at 15% on salaries above £5,000, up from 13.8% on salaries above £9,100 .…
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NAB Reports 2.5% Drop in Net Profit to AU$3.4B in H1 2025
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The net operating income increased by 1.4%, and the net interest income went up by 0.6%. National Australia Bank The National Australia Bank (NAB) posted a net profit of AU$3.4 billion for the first half of fiscal year 2025, which concluded in March 2025. This represents a decrease of 2.5% from the corresponding period…
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Chinese banks’ annual credit loses to average $353b in next two years
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Nonperforming assets and bad debt are expected to rise. Chinese banks ‘ nonperforming assets (NPA) ratio may rise to 6.3% through 2027 as trade disputes weigh on the economy. The US trade policy may result in more bad debt from small companies and unsecured lending, said S&P Global Ratings credit analyst Ming Tan. Tan…
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Barclays Integrates Ant International’s Model into Global FX Hedging Platform
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Ant Interntional has completed the first batch of intra-group FX transactions with Barclays. Ant International has joined forces with a UK bank Barclays to enhance financial operations for companies. Barclays will integrate Ant’s Time-Series Transformer (TST) AI FX model to its FX hedging platform, BARX NetFX, which serves the e-commerce and payment industries. Their…