Kuwait’s Prime Minister Sheikh Ahmad Nawaf al-Sabah has announced a cabinet reshuffle which includes the appointment of a new finance minister. The reshuffle keeps major roles unchanged, according to state news agency KUNA. The move comes over a month after the government resigned due to differences with the opposition-controlled parliament. Manaf Abdulaziz Al Hajri has […]
Saudi Arabia’s Social Development Bank has provided over $770 million in financing to more than 30,000 small businesses, startups, and self-employed individuals during the first quarter of 2023. The bank offered loans worth $260 million to 2,000 small enterprises and startups, while over 9,000 individuals received social financing valued at $143 million. In addition, the […]
Swiss Finance Minister, Karin Keller-Sutter, has stated that if Credit Suisse had gone bankrupt, Switzerland’s economy would have likely collapsed. In an interview with Le Temps, she explained that the Swiss government acted in the country’s best interests by quickly arranging a takeover of Credit Suisse by UBS, its larger domestic rival. The collapse of […]
Fans of the iconic Mario game series who enjoy playing on their mobile devices will be disappointed to learn that Nintendo has officially announced it will no longer be making Mario games for smartphones. Despite the success of its previous mobile game titles such as “Super Mario Run” and “Mario Kart Tour,” Nintendo’s director and […]
US Treasury Secretary Janet Yellen remains optimistic about the growth of the world’s biggest economy, despite concerns over a potential recession due to the recent banking sector turmoil. The collapse of Silicon Valley Bank (SVB) and Signature Bank last month created shockwaves in the industry, leading the Treasury Department and Federal Reserve to intervene to […]
Investing in dividend-paying stocks can be a better option than risk-free small saving schemes such as PPF, EPF, and bank FDs. This is because sometimes these stocks can offer a double benefit – a high dividend yield that beats traditional risk-free investment options, and a significant increase in value over the investment period. PFC is […]
Samsung’s Q1 earnings guidance paints a bleak picture for the tech giant, with sales projected to be around $48 billion, down by 10% QoQ and almost 20% YoY. Operating profit is expected to be a mere $455 million, representing a six-fold decrease from the previous quarter and an astounding 95% drop from the $11 billion […]
The Central Bank of the UAE (CBUAE) has recently introduced a new AED 1,000 banknote, made of polymer, which will be available at banks and exchange companies starting from 10th April 2023. The new banknote has been designed with varying tones of brown, similar to the current AED 1,000 note, but with a distinctive fluorescent […]
According to the Labor Department, the US labor market continued to add jobs at a strong pace in March, with payrolls increasing by 236,000. The unemployment rate also ticked down to 3.5%, the lowest level seen in over half a century. This comes despite the Federal Reserve’s efforts to cool off the economy, indicating that […]
According to recent reports, Tesla has lowered its prices in the United States by 2% to nearly 6%, as the company continues its push to offer discounts on its electric vehicles. The price cut, which was reflected on Tesla’s website on Thursday, has raised concerns among analysts who warn that it could potentially impact the […]