Former Economy Minister Domenico Siniscalco will leave the position of country head for Morgan Stanley Italy after more than 16 years in the post, the investment bank said on Tuesday.
Norway's wealth fund, one of the world's largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a three-year run of soaring profits as stocks and bonds were hit by the Ukraine war and inflation.
European Union banking regulators on Tuesday launched a stress test to check how banks could cope with a long period of high inflation and interest rates just as the European Central Bank is expected to raise borrowing costs further.
Banks are whittling down a pile of unsold loans that backed private equity buyouts in the cheap-money era and trying to avoid heavy hits by refinancing the debt or selling chunks in secondary markets, bankers and investors said.
Indian shadow lender Shriram Finance Ltd reported on Tuesday that its third-quarter profit more than doubled as higher interest income and improved asset quality bolstered its first-ever earnings report.
Russia's labour market, budget and balance of payments will exert inflationary pressures in 2023, the central bank said on Tuesday, while the rouble's December weakening may also feed into price rises.
Bank Millennium's recovery plan will not be jeopardized even if there is an unfavorable ruling on Swiss franc mortgages by European Union's top court, the lender's Chief Executive Joao Bras Jorge said on Tuesday.
The effects of rising interest rates on the highly indebted commercial real estate sector is the main risk to financial stability, but a crash is unlikely, Swedish policy makers said on Tuesday.
Euro zone banks have tightened companies' access to credit by the most since the 2011 debt crisis and expect to continue doing so as they turn more pessimistic on the economy amid rising borrowing costs, a European Central Bank survey showed on Tuesday.
