Reuters

By Selena Li and Julie Zhu

HONG KONG/SHANGHAI (Reuters) - China International Capital Corp (CICC) is cutting the base pay of onshore investment bankers by as much as 25%, three sources said, in a major effort to reduce costs amid volatile markets and Beijing's austerity drive.

Some of the impacted dealmakers were notified on Friday about the cuts, said the sources, who have knowledge of the pay reductions but declined to be named as... (continue reading...)

By Crispian Balmer

CAPRI, Italy (Reuters) - Famed for its blue seas, breathtaking views and cove-studded coastline, the Mediterranean island of Capri has been a tourist haven since the early years of the Roman empire.

Unlike in the imperial heyday, when emperors made it their exclusive playground, Capri now attracts visitors from around the world, clogging its narrow alleys, packing the piazzas and blocking the beaches during the hot... (continue reading...)

By Orathai Sriring

BANGKOK (Reuters) - Thai former energy executive Pichai Chunhavajira was named the country's finance minister on Sunday, facing a tough task to revive Southeast Asia's second-largest economy.

Pichai, 75, an adviser to Prime Minister Srettha Thavisin, takes over from Srettha as finance minister and becomes deputy prime minister, the official Royal Gazette said, announcing his appointment by the king.

Pichai... (continue reading...)

(Reuters) - Russia's air defence systems destroyed 17 drones launched by Ukraine over its territory, Russia's defence ministry said on Sunday, with a regional official saying the attack targeted an oil storage facility in the Kaluga region.

The defence ministry said on the Telegram messaging app that three of the Ukraine-launched drones were downed over the Kaluga region, south of Moscow.

Vladislav Shapsha, regional governor of Kaluga,... (continue reading...)

(Reuters) - A Russian drone attack heavily damaged a hotel in Ukraine's southern city of Mykolaiv, the governor of the broader Mykolaiv region said, with Russia's RIA news agency reporting the hotel housed English-speaking mercenaries fighting in Ukraine.

"The enemy attacked the city with an unmanned aerial vehicle of the 'Shahed-131/136' type," Mykolaiv's governor, Vitaly Kim, said on the Telegram messaging app.

"As a result, a hotel... (continue reading...)