Russian billionaires Mikhail Fridman and Petr Aven have reached a deal to offload their stakes in Alfa-Bank, the country’s biggest privately owned lender, as they seek to ease European sanctions.
China’s credit grew strongly in February driven by corporate and local government borrowing, while mortgage demand from households remained subdued.
The US is working to close a loophole in restrictions imposed on Inspur Group that leaves American companies such as Intel Corp. free to keep supplying the Chinese server maker’s affiliates.
Oracle Corp. reported quarterly sales in line with analysts’ estimates after its cloud business failed to meet expectations for higher growth. The shares declined in extended trading.
BP Plc’s Chief Executive Officer Bernard Looney was paid £10 million ($12 million) in 2022, more than double the amount in the previous year as the company posted a record profit on surging oil and gas prices.
Turkish steelmaker Erdemir won’t distribute dividends for the first time in 13 years, after deadly earthquakes in the country’s southeast led to temporary halts at one of its units.
US banks can contain contagion risk and system stress stemming from the turmoil unleashed by Silicon Valley Bank, Mohamed El-Erian said.
Chinese lawmakers on Friday unanimously voted to give Xi Jinping a third term as president, completing his quest for continued supreme power to lead the world’s No. 2 economy.
Indonesia’s GoTo Group is reducing 600 more jobs, accelerating its cuts in Southeast Asia as growth in the region’s internet markets slows.
Georgian lawmakers voted to reject a “foreign agent” bill at an emergency session following violent clashes between police and protesters and blunt international criticism.
