UBS has suspended withdrawals from a €400mn European real estate fund for up to three years, in a dramatic move that underscores growing investor anxiety over global economic instability linked to escalating
China is set to open the Huajiang Canyon Bridge in Guizhou province on Sunday, officially making it the highest bridge in the world. Suspended 625 metres above the river below, the turquoise
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Singapore-based hedge fund manager Jimmy Lim will stop running money for Millennium Management LLC after more than eight years, people familiar with the matter told Bloomberg. By mutual agreement, Lim’s Modular Asset
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Ares Management Corp. is ramping up fundraising for digital infrastructure, aiming to capture the surge of capital flowing into data centers as artificial intelligence fuels a global build-out, Bloomberg reported, citing an
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A rapid shift toward electric vehicles is underway in developing countries, with adoption rates in some markets surpassing those in wealthier nations, according to BloombergNEF research highlighted on Bloomberg’s Zero podcast. Colin
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Freeport-McMoRan Inc. declared force majeure at its Grasberg mine in Indonesia after a massive mud flow left two employees dead and five missing, sending shockwaves through the global copper market. The mine,
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HSBC Sri Lanka has agreed to sell its retail banking business to Nations Trust Bank PLC (NTB) in a landmark deal valued at LKR 18 billion. The transaction, announced today, includes HSBC’s
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by Our Economic Affairs Editor There is a certain poetic irony in the life of Dr. Nandalal Weerasinghe, Sri Lanka’s Central Bank Governor. A man who, when our nation teetered on the
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The personal fortune of Sri Lanka’s Central Bank Governor, Dr. Nandalal Weerasinghe, has come under intense public scrutiny following a full declaration of his assets and liabilities to the Commission to Investigate
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Alibaba Group Holding Ltd. will significantly raise its investment in artificial intelligence as it seeks to establish a full AI ecosystem capable of competing with American tech giants, Bloomberg reported. Speaking at
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Tether Holdings SA, issuer of the world’s largest stablecoin, is in discussions with investors to raise as much as $20 billion through a private placement, Bloomberg reported, citing people familiar with the
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