Fri, May 03 2024
In a surprising turn of events, China and Hong Kong stood resilient amidst a broader decline in Asian markets, showcasing their economic strength and stability. Investors closely monitored market movements in the region as uncertainties loomed, while attention shifted to Australia as the central bank's rate decision took the spotlight.
In a surprising move, Deutsche Bank has announced plans to slash 3,500 jobs as part of its ongoing restructuring efforts, even as the financial institution reported a significant profit of $4.5 billion for the last fiscal year. The decision to downsize the workforce comes amidst a challenging environment in the banking industry and is aimed at enhancing efficiency and cutting costs.
Turkey's newly-appointed central bank governor Fatih on Sunday said that his team is determined to maintain tight monetary policy until inflation falls to levels consistent with their target. Karahan replaced Hafize Gaye Erkan on Saturday, hours after she resigned citing a need to protect her family amid a "reputation assassination".
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