The Commercial Bank of Ceylon is launching ‘Sharia Compliant Banking’ with the purpose to better serve an important segment of its customer base that requires Sharia-compliant financial products based on Islamic principles.
The three members of the…
- Economic Report: U.S. economy was the worst performing of G-7 countries in the second quarter as U.K. also reports downturnThe U.S. was the worst-performing of the major Group of Seven economies in the second quarter, the latest data show.
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- The Wall Street Journal: Samsung scion Lee Jae-yong to receive pardon from South Korea’s presidentSamsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal reprieve underpinned by expectations that the business tycoon will help propel the nation’s economy.
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- Earnings Results: Illumina stock tanks as gene-sequencing company misses expectations and issues bleak outlookIllumina Inc. shares sank 17% after hours Thursday after the gene-sequencing company swung to a loss in the second quarter, fell short of revenue expectations and revised its full-year outlook downward.
- Earnings Results: Rivian loses nearly $2 billion in second quarter as expenses mountRivian Automotive Inc. late Thursday reported a narrower-than-expected quarterly loss, but called for steeper losses for the year, warned about ongoing supply-chain snags, and saw rising expenses, sending the stock lower in the extended session.
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- Dow Jones Newswires: SoftBank shares surge on plan to preserve cash by cutting Alibaba stakeSoftBank Group Corp. shares rose sharply Friday following news that it will reduce its stake in Alibaba Group Holding Ltd., a move that preserves cash at the Japanese tech-investment company.
- The Wall Street Journal: Meditation and wellness app Calm lays off 20% of its staffIn the memo, CEO David Ko wrote that Calm leadership had “revisited the investment thesis behind every project” before deciding to make changes that would help stabilize the business.