Category: finance
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Indian Lender RBL Bank Posts Lower-Than-Expected Q3 Profit Following Emirates NBD Acquisition
Mumbai, India – Indian private sector lender RBL Bank (RATB.NS) reported a lower-than-expected profit for the third quarter ending December 31, marking its first earnings report since Dubai’s Emirates NBD acquired a majority 60% stake in the bank. The bank posted a standalone net profit of 2.14 billion Indian rupees ($23.6 million) for the quarter,
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South Korea Says U.S. AI Chip Tariff Will Have Limited Immediate Impact on Exports
SEOUL – South Korea’s trade authorities have indicated that the 25% U.S. tariff on certain advanced computing chips will have a limited short-term impact on South Korean companies, though officials remain cautious about future developments. The announcement follows U.S. President Donald Trump’s proclamation on Wednesday, imposing import duties on specific artificial intelligence (AI) chips produced
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Elon Musk Seeks $134 Billion From OpenAI and Microsoft Over “Wrongful Gains”
Elon Musk has filed a high-profile lawsuit seeking up to $134 billion from OpenAI and Microsoft, claiming the tech giants received “wrongful gains” from his early contributions to the artificial intelligence startup. The legal action comes ahead of a federal court trial in Oakland, California, set to begin in April. Musk’s Claims Against OpenAI and
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China’s Trade Surplus Hits Record $1.2 Trillion in 2025 Despite US Tariff War
China’s trade surplus reached an all-time high of nearly $1.2 trillion in 2025, according to official customs data released on Wednesday, showing remarkable resilience in the face of an ongoing trade war with the United States. Despite aggressive US tariffs targeting Chinese goods, exports rose 5.5 percent year-on-year, totaling $3.77 trillion. This growth reflects Beijing’s
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Leading Central Banks and Major Banks Advance Testing of Cross-Border Payments Project
A group of the world’s leading central banks, together with more than 40 major commercial banks, is ramping up testing of one of the most closely watched digital cross-border payments projects, reflecting the intensifying race to modernize and dominate the global financial architecture. The Agora Project: Modernizing International Payments The Agora project, spearheaded by the
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U.S. Banking Giants Post Strong Q4 Profits Amid Rising Loan Demand
Major U.S. banks reported strong profits in the fourth quarter of 2025, fueled by robust loan growth and steady demand from borrowers. The trend suggests that the U.S. economy remains resilient, providing a positive outlook for lenders’ earnings in 2026. Loan Growth Drives Record Earnings Bank of America (BAC.N) reported an 8% increase in average
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Italian Government Expected to Support New Mandate for Eni CEO Claudio Descalzi
Italy’s Prime Minister Giorgia Meloni is reportedly set to endorse Eni CEO Claudio Descalzi for a new three-year term, according to sources familiar with the matter. This move would extend Descalzi’s tenure, reinforcing his status as the longest-serving head of the Italian energy giant. Claudio Descalzi: Veteran Eni Leader Claudio Descalzi, 70, has served as
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KKR Raises $2.5 Billion for Second Asia Private Credit Fund
Global investment firm KKR & Co (KKR.N) announced on Thursday the successful completion of $2.5 billion in fundraising for its second private credit fund focused on the Asia-Pacific region. The fund will target privately originated performing credit investments, reflecting growing investor interest in Asia’s expanding private markets. Asia Credit Opportunities Fund II The bulk of
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ECB Faces Heightened Risks Amid U.S. Fed Controversy and Global Uncertainties, Says Kazaks
The European Central Bank (ECB) must remain vigilant in the face of rising global risks, including the U.S. administration’s recent attack on the Federal Reserve (Fed), ECB policymaker Martins Kazaks said on Thursday. The comments highlight potential challenges for European monetary policy amid market volatility and geopolitical tensions. U.S. Fed Controversy Raises Global Concerns Fed
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