Economy moving in the right direction: Aurangzeb ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a virtual meeting with Johanna... Published 06 Sep, 2024 08:01am
World UK fines Citigroup over European ‘flash crash’ LONDON: British financial regulators Wednesday fined US bank Citigroup for failures in its trading controls after a... Published 23 May, 2024 05:16am
Business & Finance Abu Dhabi Islamic Bank in talks to buy $1.1bn stake in Indonesian lender, sources say SINGAPORE/JAKARTA: Abu Dhabi’s largest Islamic bank is in talks to buy a minority stake valued at around $1.1... Published 18 Apr, 2024 11:05am
Business & Finance Citi profit beats estimates, takes $483mn charge tied to severance costs Citigroup’s first-quarter profit fell 27% but beat market expectations on Friday, while taking a $483 million charge... Published 12 Apr, 2024 07:10pm
Business & Finance Citi to lay off 363 workers in New York Citigroup said on Monday its primary banking unit Citibank will lay off 363 employees in New York. The bank said... Published 01 Apr, 2024 09:37pm
Business & Finance Citi lays off 10 research staff in Asia Pacific as part of global revamp, sources say HONG KONG: Citigroup Inc has laid off at least 10 people in its equities research department in Asia Pacific this... Published 27 Mar, 2024 01:57pm
World Citigroup probes senior IPO banker over bullying claims NEW YORK: Citigroup is investigating workplace harassment allegations made by at least one employee against a senior... Published 15 Mar, 2024 04:14am
Business & Finance JPMorgan picks HSBC, StanChart to run $500bn custody business in Hong Kong, Taiwan HONG KONG: JPMorgan Chase has selected HSBC and Standard Chartered to operate its custody businesses in Hong Kong... Published 01 Mar, 2024 10:20am
Business & Finance Citi hires banking head from JPMorgan, prompting reshuffle of bosses NEW YORK: Citigroup appointed Viswas Raghavan from JPMorgan Chase as its new head of banking, prompting a wave of... Published 27 Feb, 2024 03:06am
Business & Finance Citigroup lays off more bosses as CEO Fraser addresses managing directors NEW YORK: Citigroup CEO Jane Fraser held a conference call on Thursday with managing directors to discuss the bank’s... Published 19 Jan, 2024 10:24am
Business & Finance Citi to cut 20 Asia Pacific equity research jobs HONG KONG: Citigroup’s is planning to lay off around 20 equity researchers in Asia Pacific as part of its global... Published 18 Jan, 2024 02:40pm
Markets Wall Street slips as big banks slide NEW YORK: Wall Street’s main indexes fell on Tuesday after mixed earnings from Morgan Stanley and Goldman Sachs... Published 17 Jan, 2024 06:02am
Business & Finance US bank Citigroup to cut 20,000 jobs in medium term NEW YORK: Citigroup plans to cut 20,000 jobs over the next couple of years as part of a corporate reorganization... Published 15 Jan, 2024 05:03am
Markets Wall Street subdued as mixed bank earnings limit inflation data cheer NEW YORK: Wall Street’s main indexes were subdued after giving up early gains on Friday, as a mixed bag of big ... Published 13 Jan, 2024 05:38am
Business & Finance Citigroup profit to take $3.8 billion hit on charges, reserves NEW YORK: Citigroup booked about $3.8 billion in combined charges and reserves that will erode its fourth-quarter... Published 11 Jan, 2024 11:45am
Business & Finance Citigroup reorganisation to be completed in first quarter, cost $1 billion WASHINGTON: Citi-group Chief Financial Officer Mark Mason said on Wednesday the bank’s largest reorganisation in... Published 11 Dec, 2023 06:41am
Business & Finance Citigroup reorganization to be completed in first quarter, CFO says Citigroup Chief Financial Officer Mark Mason said the company will book $1 billion in costs that include... Published 08 Dec, 2023 11:08am
Business & Finance Saudi’s Kingdom Holding buys $450mn stake in Citigroup from Alwaleed DUBAI: Saudi Arabian Prince Alwaleed Bin Talal’s investment company Kingdom Holding said on Wednesday it raised its... Published 29 Nov, 2023 12:46pm
Business & Finance Citi shuffles bosses in ‘difficult’ management overhaul NEW YORK: Citigroup CEO Jane Fraser and top executives announced the next layer of leadership changes as part of a... Published 27 Nov, 2023 06:13am
Business & Finance Citi makes new appointments in Asia Pacific as part of restructuring HONG KONG/SINGAPORE: Citigroup has made new appointments in Asia Pacific following a sweeping global reorganization... Published 22 Nov, 2023 11:51am
Business & Finance Citigroup employees brace for layoffs, management overhaul NEW YORK: Citigroup employees expect the bank to announce layoffs and senior management changes on Monday as part of... Published 20 Nov, 2023 04:42pm
Markets S&P 500, Nasdaq down BENGALURU: The S&P 500 and the Nasdaq fell on Friday, as a decline in megacap stocks overshadowed upbeat... Published 14 Oct, 2023 05:32am
Markets China stocks slip amid mixed holiday data SHANGHAI: China stocks closed slightly lower on Monday as trading resumed following a long holiday and as mixed... Published 10 Oct, 2023 06:19am
Markets Citigroup to sell China consumer wealth business to HSBC Citigroup Inc said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets... Published 09 Oct, 2023 10:38am
Markets Goldman Sachs pushes its forecast for Fed rate cut to Q4 2024 Goldman Sachs economists said they now expect the US Federal Reserve to begin its interest rate-cutting cycle in the... Published 21 Sep, 2023 12:41pm
Business & Finance Citigroup CEO makes sweeping management changes to simplify bank, cut jobs NEW YORK: Citigroup CEO Jane Fraser announced a major management reorganization that will see more job cuts and give... Published 18 Sep, 2023 06:32am
Business & Finance Slower, but still strong US employment growth expected in July WASHINGTON: US job growth likely slowed further in July, but retained enough momentum to shield the economy from a... Published 04 Aug, 2023 10:03am
Business & Finance Citigroup profits drop less than expected NEW YORK: Citigroup beat analysts’ estimates for second-quarter profit on Friday as higher interest payments from... Published 17 Jul, 2023 03:47am
Business & Finance Citigroup profit drops 36% on trading slump, rising expenses Citigroup beat analysts’ estimates for second-quarter profit on Friday as higher interest payments from borrowers... Published 14 Jul, 2023 08:43pm
Markets Goldman cutting more than 30 Asia investment banking jobs HONG KONG: Goldman Sachs Group is cutting more than 30 banking jobs in Asia, two sources with knowledge of the... Published 15 Jun, 2023 10:17am
Capacity-based model transition to take-and-pay model: 24 conditions proposed to strike new deals between govt, IPPs