Saudi Arabia has agreed to provide Tunisia with a $500 million package of financial assistance as the country faces a mounting financial crisis. The Gulf state will give the North African country $400 million as a soft loan and $100 […]
SINGAPORE – GXS Bank, the digital lender backed by Grab and Singtel, has opened up its flagship savings account to new customers on a first-come, first-served basis. It also raised the deposit cap to $75,000 per account. The account was previously only […]
The stock market’s 20% rally this year has prompted some Wall Street strategists to reevaluate their outlook for the S&P 500 and boost their price targets. Credit Suisse is the latest firm to reassess as the benchmark index continues its blistering rally into the dog […]
icrosoft announced a new subscription-based artificial intelligence service on Tuesday, sending its stock to an all-time high and market value over $2.76 trillion. Shares hit an intraday high of $366.78 after the software giant announced a new AI subscription service for its […]
President Joe Biden has assured US taxpayers that they will not have to pay for losses in the banking sector, after French and German authorities said that recent collapse of several US banks pose no danger to European financial institutions. […]
JPMorgan Chase executives are warning that regulators’ plan to strengthen capital requirements for large banks will make loans more expensive for borrowers and drive more consumers to do business with nonbank lenders, creating potentially adverse outcomes for the broader economy. […]
The UAE banking sector ranked first in Asia, Africa, and Europe in the global Annual Trust Index Survey. Conducted by the UAE Banks Federation in collaboration with a global financial market research firm, the survey revealed consumers’ trust levels of UAE banks at […]
China added to its gold reserves for an eighth consecutive month, with economic and geopolitical risks as well as a desire to move away from the US dollar driving the purchases. People’s Bank of China holdings of bullion rose by […]
Egypt has revealed plans to invest around $9 billion in new projects in oil refining and petrochemicals, the Ministry of Petroleum and Mineral Resources announced earlier this week. In an official statement, the ministry highlighted the implementation of projects in […]
Investors globally plowed more money into cash funds in the week to Wednesday, with total cash assets under management reaching a “monster” $7.8 trillion, according to a report from Bank of America (BofA) Global Research. Inflows into cash funds totaled […]
