Abu Dhabi Commercial Bank PJSC is in talks with funds to sell 13.5 billion dirhams ($3.7 billion) worth of soured loans, as the emirate’s second-largest lender steps up efforts to clean up its books.
Raghuram Rajan — the former International Monetary Fund chief economist who predicted the global financial crisis more than a decade ago — warned that the banking system is headed for more turmoil after the rescues of Silicon Valley Bank and Credit Suisse.
Raghuram Rajan — the former International Monetary Fund chief economist who predicted the global financial crisis more than a decade ago — warned that the banking system is headed for more turmoil after the rescues of Silicon Valley Bank and Credit Suisse.
Pakistan’s parliament members rejected a verdict by the country’s top Court ordering elections in a province next month, a rare move that may ignite a legal crisis in the nation already faced with political and economic plight.
Treasury yields extended a slump and US equity-index futures fluctuated as bets the world economy is set for a sharper slowdown outweighed concerns over elevated inflation and monetary tightening.
Zambia will need official creditors led by China and France to agree to a debt-relief deal before the International Monetary Fund signs off on funding of about $188 million to the southern African nation, where restructuring delays have already knocked its currency and fanned inflation.
iNova Pharmaceuticals is in advanced talks to acquire the over-the-counter business of Mundipharma International Ltd., according to people familiar with the matter.
BlackRock Inc. was hired as an adviser to help the US government arrange the sale of $114 billion in securities that were held by failed lenders Signature Bank and Silicon Valley Bank.
Singapore banks are working with the city-state’s authorities to set uniform standards on screening potential customers from the crypto and digital assets sectors, amid various global fallouts in the industry.
China accused India of kicking out journalists with its official news agency, and said it would have to take corresponding measures.
