The US Federal Reserve is reportedly considering additional interest rate hikes in response to ongoing uncertainty in the banking sector. The central bank is said to be concerned about the potential risks posed by rising inflation and a rapidly changing regulatory environment. According to a report by the Wall Street Journal, the Federal Reserve is […]
The Swiss government has ordered Credit Suisse to temporarily suspend bonuses for its employees following a plan for the bank to be taken over by rival UBS. The move comes as authorities in Switzerland rushed to finalize a $3.25 billion sale of Credit Suisse to UBS after an outflow of deposits and years of trouble […]
David Roche, president of Independent Strategy, has stated that China’s economy will need to recalibrate due to a “fractured” global order, with new drivers of growth that are likely to disappoint global markets. The Chinese government recently announced a target of around 5% GDP growth in 2023, which is the country’s lowest in more than […]
Sri Lanka’s central bank governor Nandalal Weerasinghe announced on Sunday that the country’s “dollar crisis” will soon be over, as the International Monetary Fund (IMF) is expected to approve a $2.9 billion bailout package for the country on Monday. According to Weerasinghe, Sri Lanka will now have sufficient foreign reserves to support essential imports, thanks […]
Guyana President Dr Mohamed Irfaan Ali commended India for its leadership in advancing the objectives of the International Year of Millets at the Global Millets (Shree Anna) Conference in New Delhi on Saturday. India is the largest millet producer globally and is taking global leadership in addressing the global challenge of food and security by […]
Dubai-based shopping mall developer, Majid Al Futtaim (MAF) group, has recently laid off approximately 105 workers out of its 46,000 total staff. The move was made to increase the company’s profitability under its new CEO, Ahmed Galal Ismail. It is worth noting that MAF owns assets worth over $16 billion, including the Mall of the […]
North Korea has fired two ballistic missiles as part of a demonstration drill aimed at sub-military units, according to the country’s state media. The missiles, described as medium-range systems, were launched by a missile unit in Jangyon in South Hwanghae province on Tuesday. South Korea’s military confirmed that the North had fired two short-range ballistic […]
According to data released by the Ministry of Commerce and Industry on Tuesday, India’s Wholesale Price Index (WPI) inflation fell below the 4% mark in February, registering at 3.85%. This is a decrease from January’s WPI inflation figure of 4.73%, and the lowest it has been since January 2021 when it was 2.51%. In a […]
Elon Musk, the billionaire entrepreneur, is said to be working on a new company town named Snailbrook, which will offer housing for employees of his companies including Tesla, Boring, and SpaceX. Located around 35 miles away from Austin, Texas, the proposed town will include 110 residences adjacent to Boring and SpaceX facilities in Bastrop County. […]
Elon Musk, the CEO of Twitter, expressed openness to the idea of buying and turning the collapsed Silicon Valley Bank (SVB) into a digital bank. The idea was first proposed by Min-Liang Tan, the CEO of Razer, a consumer electronics company. Twitter’s potential entry into the banking industry could mark a significant shift in the […]