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Apollo discusses US$750 million First Boston leveraged-finance bet

APOLLO Global Management is in talks to inject US$750 million to support the leveraged-finance business of Credit Suisse Group’s investment-banking spinoff First Boston, according to people with knowledge of the matter.

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UOB’s H2 profit climbs 24% to S$2.6 billion on record net interest income

UOB on Thursday (Feb 23) posted a 24 per cent gain in net profit as it made S$2.6 billion for the second half of the year ended Dec 31, 2022, from S$2.1 billion for the year-ago period.

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UOB to ride on Citi acquisition to drive growth in 2023; posts S$1.2b Q4 profit

UOB expects its Citi portfolio acquisition will be a main growth driver in 2023, given that its performance has already surpassed expectations, said UOB chief executive Wee Ee Cheong.

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Banks tweak card offerings to compete with buy-now-pay-later players

SINGAPORE’S banks are offering shorter instalment periods on their credit cards, lowering eligibility thresholds and dangling rewards in a bid to woo customers from competitor financiers offering “buy now, pay later” (BNPL) options.

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Bangladesh banks’ profits to be pressured by high funding costs: Moody’s

BANGLADESH banks will be forced to borrow at higher costs as they are likely to face persistent liquidity pressures this year due to high inflation, hurting their net interest margins and profitability, Moody’s Investors Service said on Wednesday (Feb 22).

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Retail lost crypto money as whales sold in 2022 crash, report finds

WHEN the Terra ecosystem collapsed last year and again as FTX fell apart, retail investors rushed to buy the big crypto dip. Meanwhile, “whales” were selling en masse — all at the expense of those smaller mom-and-pop traders.

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Bank of Japan board member calls for keeping ultra-easy policy for now

THE Bank of Japan (BOJ) must maintain its ultra-loose monetary policy to allow time to see whether the recent rise in inflation will be accompanied by higher wages, its board member Naoki Tamura said on Wednesday.

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New Zealand delivers half-point rate hike, still sees 5.5 per cent peak

NEW Zealand’s central bank raised interest rates by half a percentage point, slowing its pace of tightening, but signalled further hikes will be needed to tame inflation.

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New Zealand delivers half-point rate hike, still sees 5.5% peak

NEW Zealand’s central bank raised interest rates by half a percentage point, slowing its pace of tightening, but signalled further hikes will be needed to tame inflation.

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No income tax for banks as Indonesia seeks new capital investors

INDONESIA is unveiling a slew of tax breaks to lure companies and people to move to its new capital in the heart of Borneo.

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