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Citigroup results show restructuring has its costs

NEW YORK: Citigroup Inc displayed some of the financial bruises required for its current restructuring as it ...

Published 17 Jan, 2022 07:06am

Business & Finance

Wells Fargo beats profit estimates on uptick in loan demand, cost cuts

Wells Fargo & co on Friday beat analysts' estimates for fourth-quarter profit as a rebound in U.S. economic...

Published 14 Jan, 2022 11:08pm

Markets

Citi to sell retail arms in 4 Southeast Asian markets to Singapore's UOB for $3.65bn

SINGAPORE: Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas ...

Published 14 Jan, 2022 11:07am

Business & Finance

StanChart shares hit by outlook and dashed buyback hopes

SINGAPORE/LONDON: Standard Chartered on Tuesday forecast flat full-year income and dashed investor buyback hopes,...

Published 03 Nov, 2021 03:54am

Markets

Citigroup plans more investment in Saudi Arabia, eyes banking licence

RIYADH: Citigroup wants to pursue a banking licence in Saudi Arabia to further boost its business in the kingdom by...

Updated 28 Oct, 2021 01:33pm

Business & Finance

Delta variant likely slammed brakes on US economic growth in third quarter

WASHINGTON: The US economy likely grew at its slowest pace in more than a year in the third quarter as COVID-19...

Published 28 Oct, 2021 10:35am

Markets

Virgin Atlantic plans to list on London stock market

LONDON: The British airline Virgin Atlantic is planning to list on the London Stock Exchange in the coming months, ...

Published 08 Aug, 2021 03:38am

Markets

Goldman Sachs to raise pay for junior investment bankers

Citi Group, Morgan Stanley, UBS Group AG and Deutsche Bank AG have already increased pay for their first-year analysts to around $100,000, a raise of about $15,000

Updated 02 Aug, 2021 10:54am

Business & Finance

Big banks seek to curb ‘speculative’ planned UK forex class action

LONDON: A proposed multi-billion pound claim against powerful banks over alleged foreign exchange (forex) rigging is...

Published 19 Jul, 2021 06:17am

Markets

Wall St Week Ahead-As rally in U.S. stocks rolls on, signs of caution grow

The benchmark S&P 500 is up over 13pc this year after hitting a fresh record in the past week, as did the tech-heavy Nasdaq.

Updated 25 Jun, 2021 11:26pm

Markets

More US finance giants tiptoe into cryptoassets

The chief executives of Wells Fargo, Citigroup and Bank of America said at a congressional hearing in late May that they are approaching the cryptocurrency landscape with caution.

Published 13 Jun, 2021 11:07am

Business & Finance

Big US banks look for post-pandemic rebound of credit card revenue

NEW YORK: Big US banks are prepared for credit-card balances to start ticking up again this year as pandemic...

Published 25 May, 2021 04:40am

Markets

Russia's Trust Bank prices sale of shares in VTB

Citigroup on Tuesday said Trust Bank was planning to sell its 9.1% stake in VTB via an accelerated book building.

Published 19 May, 2021 11:31am

Citigroup exits 13 global consumer banking markets

NEW YORK: Citigroup announced Thursday it will exit 13 international consumer banking markets, shifting its focus to...

Published 16 Apr, 2021 03:40am

Business & Finance

Citi hires Goldman’s chief diversity officer

NEW YORK: Citi Group has hired Erika Irish Brown from rival Goldman Sachs Group Inc to lead its global diversity...

Published 27 Mar, 2021 05:41am

Business & Finance

Citi hires Goldman's chief diversity officer

Brown joins Citi as its chief diversity, equity and inclusion officer from Goldman Sachs, where she had led that bank's diversity and inclusion efforts since mid-2018. Brown previously worked at Bloomberg in the same role.
Goldman named Megan Hogan to replace Brown, according to a memo sent to staff and seen by Reuters.

Published 26 Mar, 2021 08:12pm

Business & Finance

Turkish lira slides

ISTANBUL: Turkey’s lira skidded nearly 2.3% on Monday and has fallen in 10 of the last 11 sessions as domestic...

Updated 09 Mar, 2021 09:36am

Markets

Turkish lira on two-week slide that tests central bank's will

Wall Street banks Citigroup and JPMorgan were the latest to predict Turkey would raise interest rates next week to stabilize the currency and address inflation, which rose above 15% last month.
Citi and JPMorgan said they expect a tightening of 50-100 basis points and 100 basis points respectively.

Updated 08 Mar, 2021 10:17pm

Business & Finance

Citigroup considering divestiture of some foreign consumer units

NEW YORK: Citigroup Inc is considering divesting some international consumer units, Bloomberg Law reported on ...

Updated 21 Feb, 2021 05:10pm

Business & Finance

Citigroup considering divestiture of some foreign consumer units - Bloomberg Law

The discussions are around divesting units across retail banking in the Asia-Pacific region, the report said.

Updated 20 Feb, 2021 06:26pm

Markets

Dollar buoyed by US recovery hopes, bitcoin near record $52,640

"Rising US yields have stopped the dollar from declining for now," said Osamu Takashima, the Tokyo-based head of G10 FX strategy at Citigroup Global Markets Japan.

Published 18 Feb, 2021 11:54am

Markets

Italy hires banks to issue new dual-tranche BTP bond

The transaction will be launched in the near future subject to market conditions.
The Treasury has appointed Citigroup, Deutsche Bank , Goldman Sachs, Monte dei Paschi di Siena Capital Services and Nomura to work on the deal.

Published 15 Feb, 2021 08:47pm

Business & Finance

Citigroup slashes CEO’s pay by 21pc

NEW YORK: Citigroup Inc said late on Friday that outgoing Chief Executive Officer Mike Corbat’s compensation for...

Published 14 Feb, 2021 03:49am

Business & Finance

Citigroup slashes CEO's pay by 21%, to $19 million

Company directors reduced Corbat’s incentive pay for his failures to efficiently address the risk and control concerns of regulators, the bank said in a filing.

Published 13 Feb, 2021 10:17am

Markets

Taiwan punishes Deutsche Bank, others in currency speculation case

Eugene Tsai, head of the central bank's foreign exchange department, told Reuters that transactions made by the banks in accordance with the rules before Friday had been completed on schedule.

Published 08 Feb, 2021 11:14am

Markets

Wall Street up as Yellen backs more stimulus

NEW YORK: Wall Street’s main indexes rose on Tuesday as US Treasury Secretary nominee Janet Yellen advocated for a...

Published 21 Jan, 2021 04:23am

Business & Finance

Big US banks hunger for loans, capital relief as deposits pile up

JPMorgan Chase & Co, Bank of America Corp and Citigroup took in more than $1 trillion in deposits last year, compared with a $92 billion increase in 2019.
Big banks will not shun deposits due to the dynamic, executives said, because doing so could hurt their franchises.

Published 20 Jan, 2021 06:52pm

Markets

S&P 500, Dow drop as big banks fall after results

JPMorgan dips despite posting jump in profit.
Citigroup, Wells Fargo slip after results.
Walmart drops as head of e-commerce to retire.
Retail sales fall again in December.
Indexes: Dow down 0.36%, S&P slips 0.26%, Nasdaq up 0.12%.

Published 15 Jan, 2021 08:29pm

Business & Finance

Singapore Airlines readies first US dollar bond

The airline said in a statement Monday it expected its passenger levels by the end of March to be about 25% of its pre-COVID levels and it would fly to nearly 45% per cent of its pre-crisis destinations.

Published 11 Jan, 2021 11:18am

Markets

Citigroup beats profit estimates on trading boost

The bank further boosted reserves for potential loan losses as coronavirus cases rise around the world crippling local economies.

Published 13 Oct, 2020 07:34pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jul 26	278.40
USD PKR Interbank Buying / Jul 26	278.20
USD to Japanese Yen / Jul 26	153.77
USD to Swiss Franc / Jul 26	0.88
Pound Sterling to USD / Jul 26	1.29
Euro to USD / Jul 26	1.09

Stock	Volume
S&P 500 / Jul 25	5,399.22
Nasdaq / Jul 25	17,181.72
Dow Jones / Jul 25	39,935.07
India Sensex / Jul 26	80,709.64
Tokyo Nikkei / Jul 26	37,865.35
Hang Seng / Jul 26	17,058.55
FTSE 100 / Jul 26	8,255.78
Germany DAX 30 / Jul 26	18,346.62

Item	Value
Crude Oil USD/Barrel / Jul 26	78.38
Karachi Cotton PKR/37.32 KG / Jul 26	17,035
Gold 10 Grams PKR / Jul 26	215,621
Gold Spot USD/Ounce / Jul 26	2,374.19
Cotton US¢/pound / Jul 26	68.62
Petrol/Litre / Jul 27	275.60

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jul 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jul 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jul 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jul 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jul 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jul 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jul 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jul 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jul 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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