Danske Bank vows tighter controls as profit tumbles

COPENHAGEN. Denmark’s Danske Bank, caught up in a massive money laundering scandal, said Friday its 2018 earnings plunged nearly 30 per cent and promised tighter controls to prevent any further regulatory lapses. Net profit came in at 15 billion kroner (2 billion euros) for the year, down 28 per cent on 2017, but largely in […]

China vows to buy more US goods, sees progress in trade talks

Washington China promised to “substantially” expand purchases of US goods after the latest round of trade talks, and both sides planned further discussions to reach a breakthrough with only a month to go before the Trump administration is set to ratchet up tariffs. President Donald Trump said Thursday he will dispatch two of his top […]

UAE’s du announces resignation of chief financial officer

Dubai: Emirates Integrated Telecommunications Company (EITC), the parent company of du, announced on Thursday that its chief financial officer (CFO), Amer Kazim, has resigned. The company said Kazim is leaving in order to take up another position with a Dubai government-owned organization. However, he will remain with EITC until the end of March 2019, to […]

Sony boosts profit on tax cut, yen, profits in music, movies

TOKYO. Japanese electronics and entertainment company Sony is reporting a 45 per cent surge in fiscal third-quarter profit on tax reductions, a favourable exchange rate and gains in its music segment. Tokyo-based Sony Corp reported on Friday an October-December profit of 429 billion yen ($3.9 billion), up from 295.9 billion yen in the same period […]