The world's largest wealth manager UBS on Thursday appointed former Credit Suisse manager Iqbal Khan and Citigroup veteran Suni Harford as new wealth and asset management executives. Mr Khan, Credit Suisse's former head of International Wealth Management

Work on Dubai's Al Maktoum Airport, designed to be one of the world's biggest with an annual capacity of more than 250 million passengers, is on hold as Gulf Arab economies falter, people familiar with the matter said. Construction activity has been halted and finances for expansion frozen until further notice.

Australia is on track to run its first current-account surplus since 1975, but it’s coming at precisely the wrong time. The dramatic turnaround is probably not what the Reserve Bank is after, because with a cash rate at a record-low 1% and forecast to drop to 0.5% next year, a current-account surplus suggests the currency might be a bit stronger than it otherwise would be and investment somewhat softer — the opposite of what’s needed in 2019. Meanwhile, an expected budget surplus means the government isn’t providing much stimulus to an economy that’s slowed sharply and where rate ammunition is running low.

Australia's Crown Resorts on Thursday said it had been informed that a planned US$1.2 billion stake sale by casino mogul James Packer to Melco Resorts & Entertainment had been delayed.

Melco on Wednesday said the second tranche of the 19.99 per cent stake sale by Packer's Consolidated Press Holdings would be deferred by up to 60 business days after Australian regulators complete a review of the deal.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR