Banks (Finance)
The Saudi Tourism Development Fund and Riyad Bank have launched the "Tourism Partners" program, a partnership between the public and private sectors aimed at developing quality tourism facilities and activities across the Kingdom with a financing value of up to 2 billion riyals. This program is part of
Banks (Finance)
The American Land Title Association (ALTA) has welcomed the U.S. House of Representatives' passage of the SAFE Banking Act (HR 1996), a bill that aims to clarify compliance for businesses in the cannabis industry. The legislation, which passed with a vote of 321-101, will prevent federal regulators from
Banks (Finance)
The U.S. House of Representatives has once again passed the Secure and Fair Enforcement (SAFE) Banking Act of 2021, landmark legislation to reform federal cannabis laws and reduce the public safety risk in communities across the country. Authored by U.S. Rep. Ed Perlmutter (CO-07), the bill would allow
Banks (Finance)
Malaysia's foreign exchange (FX) reserves position is expected to improve in the second half of the year as the country's rapid Covid-19 vaccination drive is expected to gather speed, leading to full economic openings and sustained recoveries in capital markets and trade. The improvement in FX
Banks (Finance)
US stocks edged back from record highs on Wednesday, with the S&P 500 index hurt as technology shares lost ground, despite earnings beats by big banks like Goldman Sachs, JP Morgan Chase, and Wells Fargo. The first-quarter trading season began, and Wall Street turned its attention to Coinbase,
Banks (Finance)
SLB Capital Advisors, a new real estate advisory firm, has been launched to focus on sale leaseback and M&A-related real estate transactions. The firm brings a team of experienced investment bankers, real estate, and M&A professionals who have collectively closed over $140 billion of capital markets
Banks (Finance)
The Swiss bank Credit Suisse has been severely impacted by its heavy exposure to the collapsed investment fund Archegos and the supply chain lender Greensill. The bank reported losses of 4.4bn Swiss francs (£3.4bn) related to Archegos, with its investment bank under CEO Brian Chin acting as prime
Banks (Finance)
Credit Suisse, a prominent Swiss investment bank, is facing a crisis after the collapse of Archegos Capital Management, a hedge fund that invested the wealth of financier Bill Hwang. The bank's market value has taken a significant hit, with a loss of £3.2 billion in just one
Banks (Finance)
Global stocks fell on Monday as investors absorbed the ripple effects of Archegos Capital's massive forced liquidation of its leveraged equity bets. The Dow Jones Industrial Average dipped 108 points, or 0.33%, to 32,964, while the S&P 500 declined 0.32% and the Nasdaq
Banks (Finance)
Babatope Joseph Aderinoye, a 30-year-old Nigerian national residing in Plano, Texas, has been sentenced to 408 months in federal prison for his involvement in a bank fraud and money laundering conspiracy in the Eastern District of Texas. Aderinoye was convicted by a jury on October 14, 2020, of conspiracy to
Banks (Finance)
Babatope Joseph Aderinoye, a 30-year-old Nigerian national residing in Plano, Texas, has been sentenced to 408 months in federal prison for his involvement in a bank fraud and money laundering conspiracy in the Eastern District of Texas. Aderinoye was convicted by a jury on October 14, 2020, of conspiracy to
Banks (Finance)
Banking operations across the country will be significantly impacted as the United Forum of Bank Unions (UFBU) has launched a two-day agitation to protest against the proposed privatization of two state-owned lenders. The strike has been called in response to the Union Finance Minister's Budget announcement, which outlined
