The Federal Reserve’s top banking regulator expressed caution Tuesday about the impact that artificial intelligence can have on efforts to make sure underserved communities have fair access to housing. Michael S. Barr, the Fed’s vice chair for supervision, said AI…
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LONDON: Britain’s annual inflation rate slowed more than expected in June as it dropped below 8 per cent, official data showed on Wednesday (Jul 19), easing the country’s cost-of-living crisis. The Consumer Prices Index rose by an annual rate of…
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RIYADH: Saudi Arabia’s corporate leadership is reinforcing its position in international boardrooms, with Amin Nasser, CEO of the Saudi Arabian Oil Co., joining the board of the world’s largest asset manager BlackRock Inc. According to an announcement by the US-based…
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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Taiwan’s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday in a setback to Prime Minister Narendra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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