swiss bankUBS Group today announced the appointment of Todd Tuckner as Chief Financial Officer to replace Sarah Youngwood.It is said to be part of a move to revamp top management following an agreement to rescue and merge with the Credit Suisse Group. UBS said in a statement that once the deal closes, Credit Suisse CEO … Read more
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In the US stock market on the 8th,PacWest Bancorp was up 30% at one point, leading the rally in US regional bank stocks. The bank said over the weekend that its business was “healthy” and that it would cut its quarterly dividend to 1 cent to accelerate its capitalization plan. PacWest cuts quarterly dividend to … Read more
The Emirate of Dubai in the United Arab Emirates (UAE) has long made efforts to attract commodity companies through investment in banking infrastructure and development of futures trading. began to move to While London has a much larger product presence, more and more companies are moving their operations to Dubai. With traders themselves getting unprecedented … Read more
Abu Dhabi – Mubasher: The Ducab Group contributes more than 6.6 billion dirhams to the UAE economy, and exports 60% of its products to more than 55 markets. It provides a wide range of world-class solutions for the energy sector, and employs more than 1,400 employees in its factories and offices. Ducab Group supplies grew … Read more
Investors are letting go of preferred stock at a historic pace. The reason for this is growing concerns about the health of U.S. regional banks. $12.2 billion (approximately ¥1.64 trillion) iShares Exchange Traded Fund linked to the preferred securities market (ETF) fell 5.1% on a weekly basis last week. It was the biggest drop since … Read more
New fears over a recession-inducing credit crunch have led U.S. bond market bulls to speculate that the Fed will make the sharpest policy shift in nearly 40 years. floated for a while. Just minutes after the Federal Open Market Committee’s (FOMC) rate hike decision on Wednesday, traders increased speculation that a rate cut was imminent, … Read more
Citizens recently received a message on their phones from the Ministry of Finance inviting them to quickly benefit from a final reduction in fines, by paying the costs issued before 5/16/2023. What is remarkable is that the ministry did not explain in its letter to the citizens the nature of the costs they must pay, … Read more
Mubasher: The Minister of Finance of the Lebanese caretaker government, Youssef Al-Khalil, appeared today, Friday, before the European judicial delegation that is visiting Lebanon for the third time since the beginning of this year to hear bankers as witnesses in European investigations taking place in France, Germany and Luxembourg regarding cases of financial corruption and … Read more
In the US stock market on the 5th,Regional bank stocks, centered on Pacwest Bancorp, rebounded sharply. Some of the extreme sell-offs this week were widely viewed as overkill. PacWest shares were up 88% at one point.Western Alliance Bancorp was up 43% on one occasion.There were concerns about business conditions in the banking sectorShares rose 6% … Read more