The U.S. Federal Deposit Insurance Corporation (FDIC) has entered a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First-Citizens Bank & Trust Company, according to an [Read More]
Germany’s economy is likely to contract further in the first quarter (Q1) of 2023 due to persistent high inflation, the country’s central bank said in its monthly report on Monday. “However, the decline is expected [Read More]
The value of Israel’s currency shekel on Monday continued its downward trend, shedding 8.3 percent of its value against the U.S. dollar in less than two months. Exchanges rates published by the Central Bank of [Read More]
The Turkish currency sank to a record low against the U.S. dollar on Thursday, trading at over 19 Turkish Lira amid local and global uncertainties. After surpassing the resistance level of 19, one dollar stood [Read More]
Banking giant Credit Suisse lost nearly a fourth of its value Wednesday, amid the growing fallout from the collapse of two regional banks in the United States. Wednesday marked the second time in three trading [Read More]
As shares of Credit Suisse fell to a record low on Wednesday, the Swiss central bank said it would provide the troubled investment bank with liquidity if required. Since Tuesday, Credit Suisse’s shares have fallen [Read More]
Shares of embattled global investment bank Credit Suisse fell by more than 20 percent to a record low on Wednesday. Since Tuesday, the Swiss-listed bank’s shares have fallen continuously. On Wednesday, Credit Suisse shares opened [Read More]
Fitch Ratings has upgraded Cyprus’ long term foreign-currency issuer default rating by one notch to “BBB” from “BBB”. The statement said the upgrade reflects the country’s fiscal outperformance, improvement in government indebtedness, and macroeconomic resilience, [Read More]
Ratings agency Fitch has downgraded Poland’s gross domestic product (GDP) growth forecast for 2023 from 1.1 percent to 0.7 percent and maintained its earlier projection of a 2.6 percent growth in 2024. “With the energy [Read More]
After ten days of intense debate, the French Senate last Saturday adopted the controversial reform to the country’s pension system, which was proposed by the government in January. The bill would raise the legal retirement [Read More]
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