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Deutsche’s layoffs have already started in Asia

HONG KONG: Deutsche Bank AG began winding down its equities business from Sydney to Mumbai, a day after the beleaguered German firm unveiled a sweeping overhaul of its operations.





Swinging the axe: Germany’s biggest bank said on Sunday that it would exit its global equities business and slash 18,000 jobs by 2022. The changes are part of CEO Christian Sewing’s plan to reverse a slide in profitability and deliver returns to long-suffering shareholders. — Reuters

China’s VC boom may bust

TOKYO: China went through a five-year surge in venture capital (VC) investment that fostered a new generation of startups from ride-hailing giant Didi Chuxing to TikTok-parent Bytedance Ltd. Now the boom may be over.Venture deals in China plummeted in the second quarter as investors pulled back amid unpredictable trade talks and growing concerns about startup valuations. The value of investments in the country tumbled 77% to US$9.4bil in the second quarter from a year earlier, while the number of deals roughly halved to 692, according to the market research firm Preqin.

Fed easing likely to prompt China rate cut

SHANGHAI: China’s central bank could cut its benchmark policy rate for the first time in four years if the US Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up support for the slowing economy.





Follow the Fed: A pedestrian walking past the People’s Bank of China (PBoC) headquarters in Beijing. Market watchers expect the PBoC to follow any US rate cut by lowering its key short-term money market rates. — Bloomberg

Banks' lending activity remains robust

PETALING JAYA: Banks are not restricting lending activities amid concerns that lenders have been reluctant or stringent in their financing.

CIMB Group Holdings Bhd group CEO Tengku Datuk Seri Zafrul Aziz said banks are doing as much as they can to balance lending to customers with responsible financing in mind.

Home-flipping unicorn shuffles staff, ends free lunch

OPENDOOR popularised a new way for consumers to sell homes online, raised US$1.3bil (RM5.4bil) in equity backing, and forced companies across the residential real estate industry to rethink their business models. But now, as it targets more growth in an increasingly competitive industry, the company is reshuffling staff and scaling back on a time-honoured startup perk: free lunch.

Dr Mahathir looks beyond Malaysia's first century

ONE YEAR after a historic regime change, Malaysia’s politics remain a combustible cocktail of sleaze and power lust. At least the economy is on the right track, even if it’s nowhere close to fulfilling its potential.

Dr Mahathir’s stature as the founder of modern Malaysia will give longevity to the ideas he leaves behind.