Banking and Finance

For decades, South Korea has imposed an inheritance tax of up to 60% on the controlling shareholders of major companies like Samsung Electronics, compelling billionaire families to engage in complex financial maneuvers to meet their tax obligations. Now, these affluent families may soon see significant relief. President Yoon Suk-yeol plans...

Deezer has announced Alexis Lanternier as its new CEO, effective September 2, 2024. Lanternier will take over from interim CEO Stu Bergen, who will continue to serve on Deezer’s Board of Directors. Bergen had stepped into the interim role in March following the departure of former CEO Jeronimo Folgueira. Based...

Inflation is easing in several leading African economies, but Nigeria continues to face high consumer prices. The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation rose to 34.19% in June, up from 33.95% in May 2024. Conversely, South Africa, recognized by the International Monetary Fund as the continent's...

Global coal demand is projected to remain largely stable in 2024 and 2025, as increasing electricity needs in major economies counterbalance a gradual recovery in hydropower and the rapid growth of solar and wind energy, according to the International Energy Agency's (IEA) latest coal market report. In 2023, global coal...

Insignia Financial has named Dave Woodall as the CEO of its superannuation business, effective November 1. This move is part of the wealth manager's significant reorganization of its operational model and executive team. This appointment aligns with Insignia's recent restructuring, which organizes the company into four focused business lines: asset...

Hybe has appointed its current Chief Strategy Officer, Jason Jaesang Lee, as the next CEO, succeeding Park Jiwon, who led the company for the past three years. Park’s resignation marks a significant shift in the Korean entertainment industry. Hybe emphasized Lee’s extensive expertise in strategic planning and operations, both domestically...

Julius Baer (BAER (SWX)) has announced the appointment of Stefan Bollinger as its new CEO, effective February 1, 2025, following an extensive search by the Board of Directors. Nic Dreckmann, who has been serving as the interim CEO, will step down upon Bollinger’s arrival. Stefan Bollinger shared his eagerness to...

Abu Dhabi Commercial Bank PJSC (ADCB) is set to bolster its strategic footprint in Central Asia's thriving $1.751 trillion economy by launching a corporate banking hub in Kazakhstan. Utilizing its extensive network and expertise, ADCB aims to support businesses fueling Central Asia’s rapid economic growth, driven by major infrastructure projects,...

Canfor Corp. has announced the retirement of its long-standing President and CEO, Don Kayne, effective at the end of this year. Kayne's career with the Vancouver-based company spans an impressive 46 years, with him serving as CEO since 2011. Under Kayne’s leadership, Canfor has undergone significant growth and transformation, evolving...

The G7 nations are prepared to channel up to $200 billion into infrastructure projects across Central Asia, with Kazakhstan emerging as a primary beneficiary. Helaina Matza, the Acting Special Coordinator for the Partnership on Global Infrastructure Investment (PGI) within the U.S. Department of State, revealed this information during a meeting...