Pakistan is set to become the world's next 'zombie' country after crisis-wracked Lebanon, as a large part of the population and businesses have tired of the shenanigans of a corrupt, self-serving elite and are seeking a permanent exit from the country.
One of the first Asian leaders to recognize the global and regional impact of China’s rise, the late Japanese Prime Minister Shinzo Abe laid the foundation for a new Asian order that is now emerging.
The minutes from the March meeting of the Federal Open Market Committee show that the Fed expects a banking crisis to cause a recession this year.
The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
A counterfeit $1 million note was sold for a whopping PKR 100 million to a trader in cash-strapped Pakistan’s Muzaffargarh district.
Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.
In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.
Multimillionaire California Governor Gavin Newsom failed to disclose his ties to Silicon Valley Bank while lobbying the White House and the Treasury Department over a pending bailout, The Intercept reported on Tuesday.
Credit Suisse shares fell five percent to an all-time low in early trading and in Europe on Tuesday after the bank confirmed material weaknesses and an $8billion loss in 2022, just hours after a financial expert claimed it would be the next institution to fall following SVB.
In a harsh blow to an already-reeling sector, Moody's Investors Service cut its view on the entire banking system to negative from stable.
