Asian stocks erased gains as Sun Hung Kai Properties Ltd. (16) led a decline in Hong Kong shares after a director of the world’s largest real estate company was arrested as part of a bribery investigation. Exporters rose as confidence among U.S. homebuilders improved.
Sun Hung Kai slipped 1.6 percent in Hong Kong following the arrest of Thomas Chan Kui-Yuen, an executive director at one of the company’s units, by the Independent Commission Against Corruption. Samsung Electronics Co. (005930), Asia’s biggest consumer- electronics maker, gained 1.1 percent in Seoul. LG Display Co. (034220), a manufacturer of liquid crystal displays that gets about 16 percent of its sales from the U.S., rose 1.4 percent.
Kuwait central bank aims to cut bad loans to 2pc
Kuwait's central bank aims to cut the bad loan ratio among Kuwaiti commercial banks to below 3 per cent of total loans by the end of this year from 3.2 per cent at present, central bank governor Moha
2-day seminar on Islamic finance
The Islamic Corporation for Private Sector Development (ICD), the private sector arm of the Islamic Development Bank (IDB), organized a training seminar dedicated to African banks last October 21- 22