Tesla is returning to the US asset-backed securities market for the first time in over a year, with a $1 billion prime auto-lease transaction, a sign of how credit markets are starting to recover. The electric-vehicle maker is in the…
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Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The bank also said it anticipates higher-than-expected net interest income this year. JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as…
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CAIRO – July 13, 2023: Egypt is seeking to boost the volume of remittances received from Egyptian expats by 10 percent year-on-year in the next 3 years to reach around $45 billion in 2026. This was revealed by Prime Minister…
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Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB) have raised $1.25 billion in total from the sale of conventional and Islamic bonds, seizing a window of opportunity to raise debt amid a lull in regional issues. ADCB…
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Taiwan’s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday in a setback to Prime Minister Narendra Modi’s chipmaking plans for India. Foxconn, the world’s largest contract electronics maker, and…
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China’s central bank extended its gold-buying spree into an eighth consecutive month, adding 23 tons in June. Now, the People’s Bank of China holds 2,330 tons of gold in its reserves, according to official data cited by Bloomberg. The gold stockpiling…
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Hong Kong will continue to develop as a global finance hub and should not just be viewed as China’s offshore financial centre even as it continues to ramp up efforts to support the internationalisation of the yuan, said Eddie Yue Wai-man,…
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A legendary investor whose expertise lies in major stock crashes says the market is heading toward a burst bubble, akin to the crises seen in 1929 and 2000. British billionaire Jeremy Grantham is cofounder of investment management company GMO, which reportedly…
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Plug and Play’s commitment to maintaining high standards will not waver: CEO CAIRO: Silicon Valley-based investor Plug and Play Tech Center, renowned for its early investments in successful firms such as Dropbox and PayPal, is seeking to raise $100 million to…
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There’s been a swath of bullish new predictions from Wall Street strategists and economists since first-quarter U.S. GDP growth was revised up last week, while multiple small business surveys have revealed that the backbone of the American economy remains robust. A “soft landing”—where inflation cools without the need…
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