World’s largest hedge funds record bumper year of profits

Signage for Citadel Investment Group LLC hangs outside their office in Chicago, Illinois, U.S. Bloomberg | Getty Images The world’s top hedge funds raked in record profits last year amid a resurgence in stock markets, new analysis showed. The 20 leading funds made $67 billion in investor profits in 2023, up from the $65 billion … Read more

UK and Switzerland to sign post-Brexit financial services deal

The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together. British Finance Minister Jeremy … Read more

Singapore bank DBS Q3 2023 earnings: quarterly profit beats forecast

DBS branch in Hong Kong. Budrul Chukrut | SOPA Images, LightRocket | Getty Images Southeast Asia’s largest lender DBS Group reported a 17% jump in third-quarter profit on Monday, benefiting from a high-interest rate environment. During the quarter, net profit rose to 2.63 billion Singaporean dollars ($1.94 billion) compared to SG$2.24 billion a year ago. … Read more

ASEAN strikes nearer to financial unity with new regional funds system

Indonesian President Joko Widodo makes a speech throughout the Affiliation of Southeast Asian Nations (ASEAN) Overseas Minister’s Assembly in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Company | Getty Photos A brand new regional cross-border fee system not too long ago applied by Southeast Asian nations might deepen monetary integration amongst members, … Read more