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 […]
FNB, a diversified financial services company operating in seven states and the District of Columbia, has been awarded the prestigious Celent Model Bank Award for its proprietary digital platform, eStore®. The innovative platform is a digital marketplace accessible via fnb-online.com, the FNB Direct Mobile Banking app, and interactive digital kiosks in all FNB branches. Customers […]
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 […]
First Citizens BancShares, based in Raleigh, North Carolina, has acquired the assets and loans of Silicon Valley Bank (SVB), which was seized by US regulators earlier this month after a run on the bank. The failure of SVB, one of the largest bank failures in the US since the financial crisis of 2008, triggered fears […]
The global economy is heading into a decade of low growth, according to acerbating Factors such as the persistent Covid-19 pandemic and escalating tensions between the U.S. and China. This could have severe implications for businesses and consumers around the world. Daniel Lacalle, author and chief economist at Tressis Gestion, told CNBC’s “Squawk Box Europe” […]