Swedish banking group Swedbank reported a bigger-than-expected rise in net profit on Tuesday on the back of higher interest income, and said its credit quality was solid as loan impairments fell sequentially in the second quarter.
Singapore could turn a governance crisis into an opportunity. Its transport minister S. Iswaran and Ong Beng Seng, the property billionaire credited with bringing Formula One to the city, were arrested and released on bail last week. The rare high-profile probe involving a public official by the hub’s anti-graft agency is a timely test of the Asian centre’s willingness to act tough on corruption.
Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment.
Multilateral development banks (MDBs) must undergo big changes in the way they operate to eliminate poverty, triple sustainable lending levels by 2030 and create a new funding mechanism to further its agenda, a G20 panel said in a report on Tuesday.