The photo has been used for illustrative purposes.
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.
Australia’s strong economic performance of recent decades has allowed its central bank to avoid the kinds of unorthodox policies seen in other countries, but record low rates mean less conventional measures may be needed to tackle new challenges.
Australia’s central bank on Tuesday cut interest rates for the second time in as many months as it strives to revive a sluggish economy and reduce unemployment, a tough task that may yet require even more stimulus.
A recovery in eurozone business activity was weaker than expected this month as a deepening contraction in the bloc’s manufacturing industry is increasingly holding back services firms, a survey showed. Last month, European Central Bank President Mario Draghi
The Pearl Initiative, a leading Gulf business-led non-profit organisation promoting a corporate culture of accountability and transparency, held a virtual panel discussion in conjunction with stc.
Four tech start-ups from three countries are leading breakthrough work to transform the ports and logistics sector by piloting projects with Gulftainer.
Britain launched on Tuesday an independent review of banking capital and proprietary trading rules that is set to pit banks against their regulator as London’s powerful financial industry looks to boost its global competitiveness after Brexit.