Ulrich Koerner took over as Credit Suisse's chief executive on Monday with the mammoth task of revitalising Switzerland's second-biggest bank following a series of scandals.. Given the scale of the task, the Swiss newspaper Tages-Anzeiger wondered if Koerner was the right man for the job.
Hong Kong has tipped back into a technical recession, new government figures showed Monday, weighed down by mounting interest rates, weakened global trade and the city's continued adherence to strict coronavirus controls.. "Weakened global demand and continued disruptions to cross-boundary land cargo flows between the mainland and Hong Kong weighed heavily on Hong Kong's exports," the government said Monday.
An American envoy on Monday expressed optimism that Lebanon and Israel could move towards a maritime border deal to settle competing claims over offshore gas fields.. The maritime border dispute between the neighbours escalated in early June, after Israel moved a production vessel near the Karish offshore field, which is partly claimed by Lebanon.
Families embraced and cried tears of joy Monday as they reunited at Tonga's airport -- the inaugural arrivals to the Pacific nation after it lifted Covid restrictions for the first time since the pandemic struck.. But with restrictions lifted, Monday's first batch of tourists and returning Tongans -- greeted with colourful garlands and serenaded by a band at the Fua'amotu International Airport -- will not have to undergo quarantine.
Japan's biggest airline ANA on Monday posted a quarterly net profit for the first time in two and a half years as the sector recovers from the financial pain of the pandemic.. Rival Japan Airlines on Monday logged a net loss of 19.56 billion yen for April-June, but echoed ANA in saying demand for flights was recovering as pandemic restrictions eased.
Macau was set to remove most coronavirus restrictions on Tuesday after the casino hub's gaming revenue hit its lowest level on record.. Most restrictions will be removed on Tuesday, with the city having recorded no new infection for nine days, the government announced on Monday.
HSBC on Monday said pre-tax profit fell in the first half of 2022 but it intends to resume quarterly dividends next year as its annual outlook remained positive.. "We also intend to revert to quarterly dividends in 2023," he added.
The OPEC+ group of oil exporters are set to hammer out a new strategy at their meeting Wednesday, with all eyes on how they will react to soaring crude prices.. Any decision on Wednesday will have to be unanimous, which may lead to a longer meeting than normal.
Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders.. The announcement comes as tensions between Washington and Beijing are dragged lower by a range of issues including technology, human rights and Taiwan.
A unit of embattled Chinese developer Evergrande has failed to repay its loans and must pay a guarantor $1.1 billion, the company said in a Hong Kong stock exchange filing.. "As the borrowers failed to repay the loans, the applicant carried out its obligations under the guarantee and claimed against the subsidiary," it said.
