Banking giant UBS says its high-net-worth clients in Asia are pivoting from US dollar assets toward gold, crypto and Chinese markets. High-net-worth clients across Asia are gradually pivoting away from US dollar-based investments, favoring gold, cryptocurrencies and Chinese assets instead, according to financial services giant UBS Group. “Gold is getting very popular,” Amy Lo, the Swiss bank’s co-head of wealth management for Asia, said during Bloomberg’s New Voices event held in Hong Kong on May 13. She cited rising geopolitical uncertainty and persistent market volatility as primary factors behind the shift. Investors, traditionally concentrated in US-centric assets, are now seeking broader exposure across alternative asset classes, including crypto, commodities and other currencies. Read more
Alternative investment fund Transilvania Investments Alliance in the first three months of 2025 generated RON38.9 million net profit, up 133% from Q1/2024.
United States President Donald Trump met with Syria’s president in Saudi Arabia on Wednesday, after a surprise US announcement it would lift all sanctions on the Islamist-led government, and said Washington was exploring the possibility of normalising ties with Damascus. He made the comments during a summit between the US and Gulf Arab countries. Trump met Syria’s Ahmed al-Sharaa before the summit. Photos posted on Saudi state television showed them shaking hands in the presence of Saudi Arabia’s crown prince. Trump also urged Sharaa to normalise ties with Israel, a White House spokesperson said. Despite concerns within sectors of his administration over Syria’s leaders’ former ties to Al Qaeda, Trump said on Tuesday during a speech in Riyadh he would lift sanctions on Syria in a major policy shift. Turkish President Tayyip Erdogan joined Trump and Saudi Crown Prince Mohammed bin Salman, also known as MbS, virtually in the meeting, Anadolu News Agency reported. MbS told the summit Saudi Arabia commends Trumps...