Italian hearing aid maker Amplifon lowered its full year guidance for recurring core profit, citing weaker than expected demand in Europe and global economic and political uncertainty. It now sees its recurring earnings before interest, depreciation and amortisation (EBITDA) at about 550 million euros ($582.34 million) for 2023, down from a previous forecast of between 570-585 million euros.
DBS Group Chief Executive Piyush Gupta remains optimistic about India’s economy and the bank’s expansion plans in the country. While acknowledging the challenges in China, Gupta expressed confidence in the long-term prospects in India. DBS aims to triple its India business in the next three to five years, reaching revenues of $1.3 billion to $1.5 billion. Additionally, Gupta mentioned Indonesia as a potential market for greater capital allocation. DBS’s wealth management business has experienced recent inflows from Asia, Middle East, and Europe, and Gupta believes net inflows will continue to be strong.
