Wealth

Tencent looks for a bottom after RM613.5b wipeout

This comes as game revenue growth slows and US-China trade tensions punish wide swaths of the market
by BLOOMBERG HONG KONG • Investors in Tencent ...

SWFs’ US buying binge may end soon

DUBAI • It’s too early to call it, but the US buying binge by sovereign wealth funds (SWFs) may end soon, according to Bank of America Corp.
...

World’s biggest sovereign wealth fund delivers record return

by BLOOMBERG
OSLO • Norway’s sovereign wealth fund delivered its biggest return on record in 2017, capping a year in which it passed the US$1 trillion ...

Bank of America to open 500 US branches, expand into Ohio

by BLOOMBERG
NEW YORK • Bank of America Corp (BoA) plans to open 500 branches across the US during the next four years, including an expansion of its ...

Ultra wealthy drawn to Italy lured by tax break, official says

by BLOOMBERG
LONDON • Millionaires from Russia to Norway and the US are seeking to take advantage of Italy’s low tax rates for the super-rich. In an ...

Scotiabank to buy Jarislowsky Fraser, add RM126.1b assets

by BLOOMBERG
TORONTO • Bank of Nova Scotia (Scotiabank) agreed to buy Canadian money manager Jarislowsky Fraser Ltd for about C$950 million (RM2.97 ...
UBS

UBS said to hire ex-Morgan Stanley banker for Saudi richest

by BLOOMBERG
DUBAI • UBS Group AG hired a former Morgan Stanley banker to run its ultra-high net worth business in Saudi Arabia as the bank ...

MGM Resorts opens for Macau holiday players

Despite uncertainties over Macau’s future, the RM13.4b resort capitalises on the booming tourism demand during CNY
by BLOOMBERG HONG KONG • MGM Resorts ...

Credit Suisse seen posting trading losses, lower capital buffer

by BLOOMBERG
ZURICH • In his first two years running Credit Suisse Group AG, Tidjane Thiam has been putting out res. Today, there’s still smoke. The ...
Silvio Berlusconi

Berlusconi is RM8.2b richer as he makes a political comeback

NEW YORK • The tide may be turning for Silvio Berlusconi.
A year ago, the 81-year-old billionaire politician was out of power and locked in battle. ...

Alwaleed RM5b poorer since Saudi purge

DUBAI • Prince Alwaleed Talal is still very wealthy, but even the mega-rich would balk at losing more than US$1 billion in 48 hours.
His net worth fell ...

Danske Bank tells biggest clients it doesn’t want their deposits

Danske is encouraging clients to place excess cash in other products offered by the bank
Copenhagen • Danske Bank A/S is telling corporate clients to ...