Category: News
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Banks tap Sh4trn in CBK support on cash crunch
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Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
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Banks tap Sh4trn in CBK support on cash crunch
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Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
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Watchdog bans Gemma Collins advert promoting headset to treat depression
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The UK’s advertising watchdog has banned an Instagram post by TV personality Gemma Collins in which she promoted a headset as a treatment for depression. The Advertising Standards Authority (ASA) ruled that the ad discouraged seeking professional medical advice. In the video posted in May 2023, Collins wore the Flow…
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Turkish exports to “Palestine” skyrocket
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Three months after Turkish President Recep Tayyip Erdogan imposed a trade embargo on Israel, and after Globes exposed the Palestinian loophole that Israeli exporters were exploiting to keep goods flowing, it turns out that the loophole has become a highway. According to the Turkish Exporters Assembly (TiM), which represents more…
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ABN Amro lifts full-year interest income outlook on higher rates By Reuters
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By Leo Marchandon and Matteo Allevi (Reuters) – Dutch bank ABN Amro on Wednesday raised its full-year net interest income forecast to 6.4 billion euros ($6.98 billion) after beating second-quarter estimates, sending its shares up 3 percent. ABN Amro’s previous forecast of €6.3 billion was in line with 2023 levels.…
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Stocks Rally, Yen Drops as BOJ Eases Rate Worries: Markets Wrap
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(Bloomberg) — Stocks rose after the Bank of Japan moved to reassure markets following historic volatility sparked in part by an unexpected interest-rate hike last week. Most Read from Bloomberg The Stoxx Europe 600 index rose 0.5%, with progress slowed by disappointing earnings reports from some of the region’s biggest…
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Another recall for Tesla cars in China: front trunk lid this time (NASDAQ:TSLA)
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jetcityimage/iStock Editorial via Getty Images Tesla (NASDAQ: TeslaToyota Motor Corp. is set to conduct a remote recall of about 1.7 million vehicles in China, the State Administration for Market Regulation said. The issue raised involves a potential failure to detect when the front trunk lid is opened. Unlocked, which obstructs…
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Five cows, one year’s worth of free food, a two-bed apartment and exemption from military service: How athletes can win more than medals this Olympics
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While the IOC does not award cash prizes to winners at Paris 2024, many countries and territories offer incentives for their athletes to take home gold, silver or bronze medals. Many rewards are financial, but bonuses can be more selective – anything from exemption from mandatory military service to cars,…
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Banking in the eyes of NextGen client
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In the early 2000s, paying college tuition required going to the bank to deposit cash. Now, much later, banking has changed dramatically, and the future of money is in our hands. Modern consumers can easily transfer money from their bank accounts to mobile wallets using basic or premium phones, while…
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Over 30 Chinese firms cut ties with PwC amid Beijing’s pressure over Evergrande scandal
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PricewaterhouseCoopers has seen a major loss of major clients in China after pressure from Beijing, which has urged state-owned companies to cut ties over the firm’s involvement with troubled property developer Evergrande. Over the past few months, China’s Ministry of Finance has issued “enforceable guidance” – informal verbal instructions –…
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ForexLive Asia-Pacific FX news wrap: BOJ’s Uchida triggered a sharp yen decline
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Bunker Hill Announces the Appointment of Vice President Business Development
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This section is Partnership Content Provided The content in this section has been provided by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumbs Path Links Globe Newswire Article author: Published on August 6, 2024 •…
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Interior Minister Arbel seeks new airport at Beit She’an
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Within a decade, Tel Aviv’s Ben Gurion Airport will reach its maximum capacity. Only recently, after years of postponements, committees, reports and decisions, did the government approve a planning budget for the construction of an airport in Ramat David in the Jezreel Valley in northern Israel, or in Nevatim near…
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Edenor Informs the Market the appointment of Mr. Daniel Marx as Chairman and CEO By Investing.com
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Buenos Aires, August 6, 2024 /PR Newswire/ — Norte SA Distribution and Marketing Company (“equal“or the Company”; BYMA/NYSE: EDN), the largest electricity distribution company in ArgentinaAlternative Investments Company announces to the investor community that the company’s Board of Directors, in its meeting held today, approved the resignation of Mr. Neil…
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Agios to receive $1.1B in milestone payments for vorasidenib approval (NASDAQ:AGIO)
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study Agios PharmaceuticalsNASDAQ: AGIWAmerican drugmaker ABM said it will receive $1.1 billion in milestone payments after the U.S. Food and Drug Administration approved its drug furasidinib to treat malignant brain tumors. The biotech company said it will receive $905 million from Royalty Pharma in connection with its recent royalty agreement.…
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What will happen to Microsoft after Google antitrust ruling?
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The court’s ruling that Google is a “monopoly” could have ripple effects throughout the tech industry. A recent analyst note from WedBush Securities lays out a few possible scenarios. Some are more likely than others, and not all are favorable to Google — though some could be. Options on the…
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Reprieve for borrowers as CBK lowers key rate for the first time in 4 years
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For the first time in four years, Kenya’s central bank has cut its lending rate, giving borrowers relief from loan servicing costs after years of rising rates in a bid to contain inflation and a weak shilling. China’s central bank on Tuesday cut its key interest rate by 25 basis…
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Warm weather boosts UK retail sales in July, but big purchases still lag behind
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The delayed arrival of warm summer weather helped UK retail sales rebound in July, according to industry data, even as shoppers continued to avoid big purchases amid an ongoing cost of living crisis. Total UK retail sales rose 0.5% year-on-year in July, data from the British Retail Consortium showed. This…
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What investors should do when there is more volatility in the market
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Breadcrumbs Path Links BMW PMN Business Article author: Associated Press Cora Lewis Published on August 6, 2024 • Read for 4 minutes You can save this article by registering for free here. Or log in if you have an account. Trader Gregory Rowe works on the floor of the New…
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New buildings must have solar panels
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Israel’s National Planning and Building Committee has approved new regulations requiring all new non-residential buildings and homes to install solar panels on their roofs. The National Planning and Building Commission today approved new regulations requiring all new non-residential buildings and homes to install renewable energy systems with solar panels on…