Sharp has delivered a wake-up call to Foxconn. The $46 billion iPhone supplier, formally known as Hon Hai Precision Industry , rescued the Japanese electronics group in 2016 with a promise to turn it around. Sharp's surprise $1.6 billion writedown in the three months to March casts doubt on the Taiwanese group's grip on its investment - and its ability to strike similar deals.
Africa's economic growth is set to edge upwards in 2023 and 2024 amid tighter global monetary policy and the fallout from Russia's invasion of Ukraine, but South Africa's will plummet, the African Development Bank (AfDB) said.
UBS will have an "incredibly high bar" on investment banking staff it takes on from Credit Suisse following the merger of the two banks, UBS Chairman Colm Kelleher said on Wednesday.
Vietnamese property giant No Va Land Investment Group Corp is in talks with creditors to restructure part of its $1 billion foreign debt, according to two people familiar with the matter, amid turmoil in one of the country's top industries.
Majid Al Futtaim (MAF) and Banque Saudi Fransi both launched Islamic bonds, or sukuk, on Tuesday, as investor demand and favourable conditions drive issues from the Gulf region.