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 […]
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 […]
Sources have informed The News that Pakistan State Oil (PSO) and the State Bank of Pakistan (SBP) are collaborating on establishing banking channel arrangements for the import of crude oil from Russia. According to sources, the government aims to commence the import of crude oil from Russia by the end of April. State Minister for […]
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 […]
Major banks such as HSBC (HSBA.L), Goldman Sachs (GS.N), Morgan Stanley (MS.N), and Standard Chartered (STAN.L) have reported a concerning trend – the gender pay gap has widened in 2022, according to Reuters’ review of the data. Moreover, the analysis revealed a troubling disparity between Black and white employees, especially in the banks that disclosed […]
According to a poll conducted by CNBC, distinguishing financial truth from fiction can be challenging. To assist consumers, eight personal finance experts were consulted to identify the most prevalent money myths. Here are nine of the most significant misconceptions debunked by these financial authorities. Myth 1 – Daily Coffee Sacrifice as a Major Financial Game-Changer […]
London’s position as a leading financial hub is being challenged by other financial centers, according to a league table by the City of London Corp. New York shares the top spot with London, with Frankfurt and Paris gaining ground at a faster pace. The report analyzed 95 metrics to measure the competitiveness of financial centers, […]
On Wednesday, US stocks saw significant gains as investors shrugged off concerns about the banking system following the collapse of Silicon Valley Bank. This news came as a relief to many investors, who had been worried about the stability of the financial sector after the high-profile failure of a major bank. The technology sector was […]
On March 29, 2023, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released Budget 2023—A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future. Canada has made a remarkable recovery from the COVID recession. In fact, Canada’s economic growth was the strongest in the G7 over the last year. Furthermore, the country […]