LONDON, April 9 (Reuters) – HSBC (HSBA.L), opens new tab, is selling its business in Argentina and booking a $1 billion loss on the deal, the bank said on Tuesday, as it continues to shrink its once globe-spanning empire to focus on Asia. HSBC is selling the business, which covers banking, asset management and insurance, to […]
April 5 (Reuters) – UBS Chief Executive Officer Sergio Ermotti on Friday said it was important that Europe allow stronger banks to be created to make them more competitive on a global level. “We can’t just rely on a crisis to create or facilitate the merger of banks,” Ermotti said. Ermotti was speaking at a […]
BEIJING, April 8 (Reuters) – The U.S. and China are deepening co-operation on financial stability issues, Treasury Secretary Janet Yellen said on Monday, with more simulations of financial shocks due after a recent exercise on tackling the failure of a large bank. Wrapping up four days of meetings in China, Yellen issued a stern warning […]
The UAE banking sector witnessed a substantial increase in transfer activities during January 2024, with the value of transfers executed through the UAE Funds Transfer System (UAEFTS) soaring to approximately AED1.512 trillion ($411.7 billion). Data from the Central Bank of the UAE (CBUAE) highlights a remarkable 24.4 percent annual growth in the value of transfers executed through […]
Divorce rates in the U.S. reflect a significant societal trend, with notable public splits adding to almost 700,000 divorces in 2021. However, beyond the headlines lies the stark financial reality of divorce, which can cost anywhere between $1,500 to over $140,000. Legal expert Elizabeth Douglas underscores the complexity and potential financial burden of contested divorces, emphasizing the […]
Recent comments by Moelis & Co. Vice Chairman Eric Cantor have sparked a contentious debate over the direction of US antitrust regulation, suggesting that the aggressive posture of regulators could be counterproductive, dampening competition and deterring investment. At the heart of Cantor’s critique is a concern that the actions taken by U.S. antitrust regulators, notably against prominent […]
Amidst market confusion, the Reserve Bank of India (RBI) has upheld its existing policy on exchange-traded rupee derivatives, clarifying that there has been no amendment to the requirement for proof of clients’ underlying forex exposure. This announcement comes after brokerages began requesting such proof from their clients, following an RBI circular issued in January. The […]
This development has stirred the markets, highlighting investor anticipation and the precious metals’ appeal as safe havens amid economic uncertainties. With gold breaking past $2,266 per ounce and silver also on the rise, the financial landscape braces for potential shifts in the central bank’s monetary policy. Understanding the Surge in Precious Metals Recent statements from […]
Lotus Resources Limited has embarked on a strategic financial endeavor to secure necessary funding for the revival of Kayelekera Uranium Mine, aiming for a production reboot in late 2025. With an estimated total requirement of approximately K239 billion to breathe new life into the project, the firm has successfully raised K33.9 billion through a share placement, […]
Barclays and Asset Global Limited (AGL) are making a significant move into the private credit market, an industry currently valued at $1.7 trillion, with strategic investment from the Abu Dhabi Investment Authority (ADIA). This partnership marks a pivotal moment, aiming to leverage the robust growth and potential within the private financing sector. Strategic Alliance Formed In […]