A Swiss national flag flutters in the wind atop the Swiss National Bank SNB headquarters in Bern, Switzerland. Reuters
Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk divisions.
Five years after Swiss National Bank (SNB) upended global currency markets by scrapping the Swiss franc’s peg to the euro, it is under widening pressure to adjust its ultra-loose monetary policy.
Credit Suisse sought to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from Switzerland’s central bank,
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
When completed, the wind power plant will produce 47,790 gigawatt-hours of clean energy annually, and will contribute to avoiding the emission of 23.8 million tonnes of carbon dioxide, equivalent to approximately 9% of Egypt's current carbon dioxide emissions.
The Ministry of Industry and Advanced Technology (MoIAT) and EDGE Group have jointly launched Talk 4.0, a new knowledge-exchange initiative to empower industrial leaders
Australia’s central bank on Tuesday raised interest rates by a quarter-point to an 11-year high, and warned that further tightening may be required to ensure that inflation returns to target.