Latest news with #financialassets
Al Arabiya
2 hours ago
- Politics
- Al Arabiya
Zelenskyy says ‘time to confiscate' Russian assets
Ukrainian President Volodymyr Zelenskyy on Thursday called for the confiscation of Russia's financial assets, following the latest deadly strike by Moscow on Kyiv. 'We need to fully block Russia's war machine ... put every frozen Russian asset, including the stolen wealth of corruption to work defending against Russian aggression. It's time to confiscate Russian assets, not just freeze them, confiscate them and use them to serve peace, not war,' Zelenskyy told a Helsinki conference in an online address.
Malay Mail
2 days ago
- Business
- Malay Mail
Household debt at 84.3pc of GDP, but Malaysians still have a strong buffer, says Finance Ministry
KUALA LUMPUR, July 29 — Malaysia's household debt stood at RM1.65 trillion as of the end of March 2025, equivalent to 84.3 per cent of the nation's gross domestic product (GDP). However, Deputy Finance Minister Lim Hui Ying highlighted that the value of household financial assets exceeds the total debt, indicating that the public's overall financial position remains strong. 'Household debt should be viewed alongside household financial assets, which are significantly larger. 'On aggregate, household financial assets continue to exceed debt by 2.1 times, providing a solid buffer for households,' she told the Dewan Rakyat today. Lim was responding to a supplementary question from Datuk Awang Hashim (PN-Pendang), who inquired about the debt-to-GDP ratio. She said that regarding household debt, the government and Bank Negara Malaysia are always committed to assisting credit users who face financial difficulties. In response to the original question posed by Datuk Mohd Shahar Abdullah (BN-Paya Besar), who asked whether the government has regulatory plans for credit services to ensure stronger consumer protection, Lim said that loans approved by financial institutions are subject to the Policy Document on Responsible Financing. This document was issued by Bank Negara Malaysia (BNM) and has been in effect since 2012. Lim explained that through the implementation of this policy document, the debt service ratio (DSR) for households remains within prudent levels, with the median DSR for outstanding loans at 34 per cent, while the median DSR for newly approved loans is 41 per cent in 2024. 'The DSR maintained within these prudent levels serves as an adequate buffer for households to meet their debt obligations,' she said. Meanwhile, Lim said that the Credit Counselling and Management Agency (AKPK) also provides advisory services and assistance in financial management and loan restructuring. The deputy minister added that AKPK has successfully helped more than 64,000 borrowers fully settle their loans through its Debt Management Programme, while nearly 270,000 participants remain actively engaged in their financial recovery journeys under this programme. — Bernama
BreakingNews.ie
6 days ago
- Business
- BreakingNews.ie
'Golden couple': Profits soar at Brian O'Driscoll and Amy Huberman's companies
Accumulated profits at the main firm owned by Irish rugby legend, Brian O'Driscoll, last year increased to €10.68 million, new accounts show. Abridged accounts filed by O'Driscoll's O.D.M. and Promotions Ltd to the Companies Office show the company recorded post-tax profits of €217,379 in the 12 months to the end of August last. Advertisement The post-tax profits were down 73 per cent on the post-tax profits of €810,463 for 2023. The decrease is partly explained by pay to directors more than doubling from €212,707 to €446,424 due to the firm making pension contributions of €284,225 into the directors' pension pot compared to a zero contribution in 2023. Cash funds at the company last year decreased sharply from €2.14 million to €795,403 and this coincided with the company making additions of €2.47 million to its financial assets rising from €5.9 million to €8.6 million. The rise in value of financial assets takes into account a write-down of €91,486. Advertisement O'Driscoll is one half of one of Ireland's most high profile couples and separate accounts lodged by his wife, Amy Huberman's ASM Entertainment show that accumulated profits increased to €1.43 million in the 12 months to the end of August last. This followed Ms Huberman's entertainment firm recorded post tax profits of €143,075 and this followed post tax profits of €233,628 in 2023. Cash funds at the company plunged from €1.07 million to €502,239 and this coincided with the company adding €700,000 to its financial assets rising from €178,009 to €906,009. Away from her acting and writing career, Ms Huberman - who featured on Amazon Prime Video's Last One Laughing Ireland in the year under review - continues to be a favourite of companies building their brands. Advertisement Ms Huberman's popularity with the Irish public is confirmed with a combined audience of over 926,000 on the Dubliner's X and Instagram accounts and in March of this year the Dublin woman launched her own wine brand, Ah Wines. The profits at O'Driscoll's ODM and Promotions for 2024 show that O'Driscoll - now 46 - continues to retain stellar earning power - 11 years after retiring from the game of professional rugby. The company has investment properties with a book value of €1 million and a note states that the investment properties are rented residences. The firm has consistently recorded strong profits in recent years and the profits of 2024 and 2023 following profits of €641,383 in 2022, €874,120 in 2021 and €899,710 in 2020. Advertisement O'Driscoll - currently in Australia to watch tomorrow's Lions Test match against Australia - works as a pundit for TNT Sports, Off The Ball and is a HSBC Sports Ambassador. The firm employs three and pay to staff at the company, which includes directors, last year increased from €348,754 to €617,800 made up of wages and salaries of €316,522, pension payments of €284,225 and €17,053 in social insurance costs. The firm's financial assets are made up of €6.4 million in listed investments; €679,906 in participating interests and €1.58 million in other investments other than loans. The €679,906 in participating investments relates to a 33.3 per cent investment in White Water LLC, a New York limited liability company. Advertisement O'Driscoll ended his decorated playing career with Ireland and Leinster in 2014 and the ODM & Promotions Ltd's only other director is O'Driscoll's father, Frank. The two signed off on the accounts on July 15th. O'Driscoll, then aged 22, established the ODM firm in 2001 as part of his bid to capitalise on being the most marketable Irish player of the modern rugby era. During an illustrious playing career, O'Driscoll won one Grand Slam with Ireland, three European Heineken Cups with Leinster and was capped 133 times by Ireland scoring 46 tries.
Times of Oman
6 days ago
- Business
- Times of Oman
India's rich to get richer, boom in capital markets contributing to this trend: Bernstein Report
New Delhi: India's wealthiest households are set to get even richer, with their growing financial assets creating massive opportunities for wealth management firms. According to a recent report by Bernstein, India's wealth managers are witnessing robust growth, driven by rising demand from the country's uber-rich. These firms, which cater to the top 1 per cent of Indian households, are delivering more than 20 per cent profit growth and 20 per cent return on equity (RoE). It stated "India's uber-rich are only going to get richer. The top 1 per cent households (the uber-rich) in India control approx. USD 11.6 Tn in total assets, of which approx. USD 2.7 Tn are in liquid financial assets that wealth managers can service". The report highlighted that these liquid assets include bank deposits and non-promoter equity holdings. Indian households are gradually shifting more of their incremental savings and wealth into financial assets, boosting the addressable market for wealth managers. The boom in India's capital markets is also contributing to this trend. The ultra-rich are converting their illiquid promoter holdings into liquid financial wealth through IPOs, stake sales, and block deals. The report stated "The uber-rich are cashing in on the capital market boom, converting illiquid promoter holdings to liquid financial wealth through IPOs, stake sales and blocks". At the same time, a new class of wealthy individuals is emerging from the startup ecosystem, including founders and early employees, further expanding the base of high-net-worth individuals (HNIs). This growing cohort of the uber-rich is increasingly seeking professional advice to manage their expanding financial portfolios. However, the advisory market is still largely dominated by self-managed funds, unorganized players, and traditional banks. Specialized wealth managers currently hold only an 11 per cent share in the USD 2.7 trillion liquid financial asset pool. The report noted that these specialized players are well-positioned to grow due to their comprehensive product offerings and personalized services delivered by experienced relationship managers. The report expects these firms to grow their assets under management (AuM) by 20-25 per cent in the near term, and at a compounded rate of 18-20 per cent over the next decade. This growth will be driven both by the increase in the liquid asset pool of the ultra-rich, projected to grow by 13 per cent annually, and a gain in market share by wealth managers, expected to rise from 11 to 17 per cent. Overall, the rich individuals of the country will continue to rise and with that the AuM of specialized wealth managers is set to grow from the current USD 300 billion to USD 1.6 trillion over the next decade.
Yahoo
23-07-2025
- Business
- Yahoo
Goldman Sachs, BNY Mellon Step into Tokenized Money Market Funds
The nation's oldest bank and a big Wall Street firm are wading into tokenization, joining a growing number of money managers experimenting with blockchain technology. Bank of New York Mellon (BK) and Goldman Sachs (GS) on Wednesday said they partnered to "support increased tokenization of financial assets." BNY's LiquidityDirect platform will connect to Goldman's private blockchain, called GS DAP, allowing some institutions to "subscribe and redeem" tokenized versions of money-market funds—though not technically buy and sell the funds themselves. BlackRock (BLK), BNY Investments Dreyfus, Federated Hermes and Fidelity Investments are also participating in the launch, the institutions said. The effort stops short of the expected eventual benefits of what's known as decentralized finance—allowing, for example, the general public to use tokens as collateral for trading. But it is a Wall Street step toward a future in which securities might borrow crypto characteristics in terms of how they're transferred or programmable methods for dealing in them. BNY and Goldman's efforts now are comparable with what BlackRock has done with its tokenized Treasury product, BUIDL, which was designed for accredited investors and institutional clients. There are about $6.75 billion in tokenized US Treasuries, bonds and cash equivalents so far, with BlackRock's BUIDL token accounting for roughly a third, according to research firm (That's a sliver of the $7 trillion in U.S. money market funds.) BNY said it would continue to maintain official books, records and settlements for the tokenized funds in the traditional way, while enabling "mirror tokens" on Goldman's private blockchain. In other words, this launch might be best thought of as a walled-off sandbox. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
