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Banking

Australia’s CBA to pay maximum dividend allowed

SYDNEY: Commonwealth Bank of Australia (CBA) slashed its annual dividend by more than half to the maximum payout allowed by regulators, even as bad loan provisions amid the coronavirus pandemic drove its annual cash profit below market expectations.

Business

India shadow lenders show signs of revival

MUMBAI: The fortunes of India’s shadow lenders are showing signs of turning, suggesting stimulus measures from policymakers will help the troubled sector weather some of the fallout from the pandemic.

Business

NZ central bank expands bond-buying

WELLINGTON: New Zealand’s central bank surprised markets by expanding its bond-buying programme and warned that policy rates might have to go below zero to revive the coronavirus-battered economy as the country was plunged back into lockdown.

Business

Gold below US$1,900 as rout extends into the second day

SINGAPORE: Gold sank below US$1,900 an ounce to head for its biggest two-day loss in more than seven years as investors step back from one of the hottest trades of 2020.