The commitment to depositors is part of an attempt to break a stalemate on reforms, which are needed to unlock fresh funds from the IMF
financial crisis
China supports Pakistan’s economy with $2bn loan rollover: Report
The $2 billion loan was due in March and has been extended for one year
Bond selloff nears dot-com bubble levels, raising alarm bells
Ten-year US Treasury notes have plummeted 46% since March 2020, while the 30-year bonds tumbled 53%
ChatGPT owner OpenAI to go bankrupt in 2024: Report
The cost of operating ChatGPT is about $700,000 a day
US debt deal secured: Biden, McCarthy express confidence in its approval
The compromise after weeks of intense talks offers a path back from the precipice
Sovereign borrowings estimated to shoot up to $12.9 trillion in 2023, says OECD report
Almost half of OECD marketable debt – some $23 trillion – will fall due over the next three years
Investors heave sigh of relief as Wall Street equities gain, US Treasury yields rise
The US Treasury yields rose on optimism that stress in the banking sector could be contained
Goldman Sachs no longer anticipates that oil will hit $100 in 2023
The bank’s latest analysis comes amid apprehensions of a wider banking crisis impacting growth potentials
UBS to buy Credit Suisse for $3.2bn in a move brokered by Swiss government
Under the terms of the deal, UBS will pay 0.76 of one of its shares for each share of Credit Suisse, with the Swiss Federal Council guaranteeing liquidity for the beleaguered bank
Credit Suisse borrows $54bn from Swiss central bank to weather financial crisis
Bank’s share dropped below 2 Swiss Francs after a sell-off triggered by Saudi National Bank saying it can’t inject more cash because of regulatory reasons
India’s Jet Airways auctions Boeing 777 airplanes in bid to resolve financial issues
The airline is currently trying to negotiate deals with lenders and former employees in order to start operations again
Lebanese soldiers undergo bank heist training amid rise of theft
The Lebanese army have conducted heist training for bank robberies and hostage situations following a rise in recent incidents
Lebanese expats set to lose millions amid economic crisis
The country’s deputy prime minister said the government’s plan won’t cover all depositors
Inflation, Central Banks, and why it matters
Inflation is the key reason behind a dismal year for investments. Despite regional nuances, the issue is truly global and may not find a quick solution. Volatility should prevail for the coming months
Investing during a period of corrections: How to stay cool amid the panic
Sensible investing is an incredible mechanism to accumulate wealth over time, but it doesn’t come without risk. Volatility is the price we have to pay. And patience is the game we must embrace.
Video: An inside look at Wall Street’s most famous trader
Peter Tuchman is no stranger to the camera. He stepped on the floor of the NYSE in 1985. Now he’s the face of the market’s best and worst days.