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Citigroup Inc

First Republic Bank deposits tumble more than $100bn as it explores options

First Republic Bank shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more...

Published 25 Apr, 2023 11:54am

Business & Finance

Citigroup beats estimates on higher income from loans

NEW YORK: Citigroup Inc’s first-quarter profit beat Wall Street expectations on Friday as it earned more from...

Published 17 Apr, 2023 06:41am

Markets

Citigroup to recalibrate investment banking workforce as required

Citigroup Inc’s chief financial officer Mark Mason said that the lender would adjust its investment banking...

Published 09 Mar, 2023 12:48pm

Business & Finance

Axis Bank completes deal to buy Citi’s India consumer business

MUMBAI: Indian private lender Axis Bank Ltd said on Wednesday it completed a deal to buy Citigroup Inc’s local...

Published 06 Mar, 2023 06:22am

Business & Finance

Citigroup to hire 3,000 in Asia institutional banking business

HONG KONG: Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few...

Published 08 Jun, 2022 07:39am

Business & Finance

Amazon to reimburse US employees who travel for abortions, other treatments

WASHINGTON: Amazon.com Inc, the second-largest US private employer, told its staff on Monday it will pay up to ...

Published 03 May, 2022 03:47am

Business & Finance

Citigroup posts 48pc jump in profit on reserve release

NEW YORK: Citigroup Inc on Thursday reported a 48% jump in third-quarter profit that comfortably beat market...

Published 15 Oct, 2021 04:08am

Markets

Wednesday’s early trade: Main indexes ease

NEW YORK: Wall Street’s main indexes eased on Wednesday, with the S&P 500 retreating from a record high, as a...

Published 15 Jul, 2021 04:03am

Business & Finance

Citi on Hong Kong hiring spree in effort to triple client numbers

Many large global banks are looking to provide more services to wealthy clients in Asia, both the newly affluent and the super rich.
HSBC's latest strategy, for example, has a focus on wealth management in Asia.

Published 16 Apr, 2021 04:36pm

Business & Finance

Citigroup profit triples, exits some overseas consumer units

Like JPMorgan Chase & Co, which reported earnings on Wednesday, Citi benefited from a boom in capital markets activity, but its consumer bank felt the impact of low interest rates that hurt earnings.
Revenue fell 7% on low interest rates and a 10% decline in loans, largely due to lower consumer credit card loan balances.

Published 15 Apr, 2021 07:38pm

Business & Finance

Bank of America to deploy $1 trillion for sustainable finance by 2030

The initiative will help the bank's push for a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses, Bank of America said.
In February, Bank of America said it would target net-zero greenhouse gas emissions before 2050.

Published 08 Apr, 2021 08:46pm

Markets

Nasdaq futures fall nearly 2pc as bond yields spike

Futures off: Dow 0.06%, S&P 0.57%, Nasdaq 1.76%.
Nasdaq 100 e-minis were down 230 points, or 1.76%, S&P 500 e-minis were down 22.5 points, or 0.57%, and Dow e-minis were down 18 points, or 0.06%.

Published 12 Mar, 2021 05:38pm

World

Citigroup offers rapid at-home COVID-19 tests to some US staff

The at-home COVID-19 testing program uses a rapid antigen test, which offers results within 20 minutes, the bank said, adding the test is awaiting emergency use approval from the US Food and Drug Administration.
Citi said it has offered employees at its Chicago area branches and those working on its trading floors in New York a chance to participate in the home testing program.

Published 10 Mar, 2021 07:38pm

Business & Finance

Citi takes profits in South Africa currency trade

Citi said it was taking profit on its three-month USD/ZAR put spread of 14.00 to 14.50, giving a total profit of 1.26% of the notional value. It purchased the put spread on Jan. 20.
Citi said the potential for a lowering in issuance of South Africa government bonds had already been partially absorbed by the market.

Published 16 Feb, 2021 06:56pm

Markets

Taiwan punishes Deutsche Bank, others in currency speculation case

The punishments will come into effect on Monday, the central bank added.

Published 07 Feb, 2021 11:59am

Business & Finance

Taiwan punishes foreign banks in speculation case

The Taiwan dollar is at a more than 23-year-high against the greenback as the island's trade-dependent economy booms on the back of global demand for its tech products.
The suspension will be a year or more for the most serious cases, the sources said, without saying the length of time being applied to each bank.

Published 05 Feb, 2021 07:42pm

Markets

Citi hires Black-owned firms for $2.5bn bond distribution

Minority-owned broker dealers, Black-owned firms in particular, have historically and largely been shut out of the capital markets.
Mason is one of the industry's most senior Black executives.

Published 28 Jan, 2021 09:29pm

Markets

Wall St closes higher as Yellen backs more stimulus

Tesla Inc shares rose after Jefferies raised its earnings estimates ahead of the electric-car maker's fourth-quarter results next week.

Published 20 Jan, 2021 10:15am

Business & Finance

Citigroup profit beats, but shares dip on higher costs, weak revenue

Shares in the bank, which have been trading at a 10-month high, fell 1.6% in premarket trading.
Citi had added more than $10 billion to its reserves last year in expectations of more loan defaults.

Published 15 Jan, 2021 07:15pm

Business & Finance

Citi appoints Shahmir Khaliq as head of Treasury and Trade Solutions

Khaliq, who was the head of Operations and Technology at TTS, has also served as the company's global head of Direct Custody & Clearing within Markets and Securities Services unit.

Published 13 Jan, 2021 08:45pm

Business & Finance

Citigroup urges return of mistaken Revlon payment as trial ends

At the conclusion of a six-day non-jury trial, US District Judge Jesse Furman in Manhattan said he would rule as quickly as he could, while admitting "it's not the easiest case."
Ten asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management have refused to return $501 million.

Published 17 Dec, 2020 12:56am

Business & Finance

Citigroup defends actions at trial over $900mn Revlon blunder

The unusual case in Manhattan federal court could provide insight into Wall Street banks' relationships with clients.
Citigroup was "holding off" on firing a loan manager involved in the overpayment until after the trial. "I don't know," Farrell responded.

Published 10 Dec, 2020 12:31am

Business & Finance

ANZ, Citi, Deutsche Bank committed for trial in Australian court on criminal cartel charges

The regulator has accused the investment banks of colluding over a A$2.5 billion ($1.8 billion) 2015 share issue to withhold unsold shares and keep the stock price from falling.

Published 08 Dec, 2020 09:12am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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