Banking and Finance

Ahmad Fazril Mohd Fauzi has officially resigned from his role as Chief Financial Officer of Boustead Heavy Industries Corporation Bhd (BHIC). The announcement was made through a Bursa Malaysia Securities filing, where it was revealed that the 41-year-old is leaving to pursue other opportunities. However, details regarding his future endeavors...

Mark Fitzgibbon, who has been at the helm of NIB Holdings since 2002, will step down from his role as CEO on 1 September. Ed Close, currently heading the health insurer's ARHI division, is set to succeed him. Following the announcement of Fitzgibbon's retirement and Close's upcoming leadership, NIB Holdings...

Petroleos Mexicanos (Pemex) reported its most significant loss since the onset of the global pandemic over four years ago. The state oil company recorded a second-quarter loss of $13.8 billion, a stark contrast to the $1.4 billion profit reported a year earlier. This represents the steepest loss since the first...

Lineage, the world’s leading operator of cold storage warehouses, has executed the largest initial public offering (IPO) in the U.S. this year. The company announced the sale of 56.9 million shares at $78 each, which is near the high end of its anticipated range of $70 to $82.1. This sale...

Adore Beauty has announced the appointment of Sacha Laing, an experienced retail executive, as its new Chief Executive Officer. Laing, who previously served as CEO of Alquemie Group, will begin his new role on October 1. Laing brings over 25 years of experience in the retail industry. His most recent...

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 2nd September 2024. Lanternier will take over from interim CEO Stu Bergen, who’ll 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 at...

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...