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 […]
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 […]
In a letter addressed to JPMorgan Chase & Co’s shareholders, CEO Jamie Dimon stated that the U.S. banking crisis is an ongoing issue that will continue to have a long-lasting impact for years to come. He explained that even when the crisis is finally resolved, its repercussions will still be felt for quite some time. […]
Samba Bank, a leading financial institution in Pakistan, has recently announced the appointment of Ahmad Tariq Azam as its new President and CEO. This decision has been approved by the Board of Directors of the bank, and is now subject to the approval of the State Bank of Pakistan. Ahmad Tariq has been associated with […]
Recent concerns have been raised by regulators regarding potential risks posed to traditional financial services (TradFi) by decentralized finance (DeFi). Such apprehensions have been amplified by events like the collapse of algorithmic stablecoin terraUST and the failure of FTX crypto exchange in 2022. Though the spillover effects on established financial institutions were limited, they have […]
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, […]
The Paris offices of five banks, including Societe Generale, BNP Paribas, and HSBC, were searched by French authorities on suspicion of fiscal fraud related to the dodging of dividend tax payments. This investigation is part of a broader European probe into dividend tax fraud. Similar investigations have already taken place in Germany and other European […]
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 […]
Campus Activewear: Fidelity Investments and Societe Generale have acquired a 2.98% stake in the footwear manufacturing company through open market transactions, while TPG Growth has exited Campus. TPG Growth III SF Pte Limited sold its entire 2.32 crore shares in Campus, while Fidelity Series Emerging Markets Opportunities Fund, Fidelity International Discovery Fund, and Societe Generale […]
IMF Managing Director Kristalina Georgieva has cautioned that there are increased risks to financial stability and the need for constant vigilance following recent turmoil in the banking sector in advanced economies. Speaking at a conference in Beijing, Georgieva stated that uncertainties in the world economy remain “exceptionally high” with global economic growth expected to dip […]