Banking and Finance

Pham Hong Hai, the former CEO of HSBC Vietnam, has been named the general director of Orient Commercial JS Bank (OCB), which is listed on the Ho Chi Minh Stock Exchange. Starting his three-year contract on July 16, Hai takes over from Nguyen Dinh Tung, who served in the role...

The International Monetary Fund (IMF) has raised concerns about China's manufacturing sector, highlighting issues of overcapacity despite a generally improved economic outlook. China last faced significant overcapacity in 2014-2016, following extensive stimulus packages introduced by Beijing and local governments during the 2008-2009 Global Financial Crisis. This overcapacity was particularly evident...

Lidl Belgium and Luxembourg has appointed Marjolein Frederickx as its new chief executive officer, taking over from Matúš Gála on 1 September 2024. Frederickx, a long-standing member of the company, brings over 15 years of experience, including eight years as chief financial officer for Lidl Belgium & Luxembourg. She began...

SkyCity Entertainment Group in New Zealand has announced the commencement of Jason Walbridge as its new CEO. Walbridge, who succeeded former CEO Michael Ahearne, brings extensive industry experience from his 18 years at Aristocrat Leisure Ltd and his time at Light & Wonder. Walbridge's immediate focus will be on stabilizing...

Burberry's shares plummeted over 15% in early trading on Monday following a disappointing first-quarter performance that led the company to issue a profit warning, replace its CEO, and suspend its dividend. The British luxury giant, which has been in operation for 168 years, announced that if the current trading slowdown...

PwC Canada has announced its commitment to the Progressive Aboriginal Relations (PAR) program, reinforcing its dedication to advancing Indigenous reconciliation efforts. The PAR program, established in 2001 by the Canadian Council for Indigenous Business (CCIB), aims to support progressive improvements in Indigenous relations. It evaluates performance in four key areas:...

Peru's central bank decided to keep its benchmark interest rate unchanged for the second consecutive month, focusing on persistent core inflation despite the country's fastest economic growth in over two years. On Thursday, the central bank maintained the rate at 5.75%, aligning with the predictions of 10 out of 13...

Medit has named Han Ryu as its new CEO. Ryu brings over thirty years of senior management experience in global medical device and healthcare companies, including key roles at Siemens Healthineers, Qorvo Biotechnologies, Accelerate Diagnostics, and Bain & Company. Since 2023, he has led Medit North America, achieving significant growth...

Mulberry's share price has declined by 39% since January, reflecting a global downturn in the luxury sector, particularly due to reduced spending by Asian shoppers. Due to falling sales and a sharp decline in its share price, luxury giant Mulberry has decided to part ways with its Chief Executive Officer, Thierry...

China's financial interest in Latin America has waned since the late 2010s and shows no signs of recovery. A report by the Inter-American Dialogue and the Boston University Global Development Policy Center highlights this trend, noting that Chinese development finance institutions (DFIs) issued less than $1.5 billion in loans to...