On March 22, the US Federal Reserve raised the interest rate by 25 basis points. This rate hike is announced at a critical time when Signature Bank and Silicon Valley Bank (SVB) in the US have declared bankruptcy. Following these two bankruptcies, Credit Suisse also revealed that its balance sheet situation is not going well either. Right after this announcement, Union Bank of Switzerland has offered a financial assistance package to Credit Suisse with an intention to take it over.
Are these banking doldrums in the US and Europe isolated incidents? Should we worry about a looming financial crisis like 2008? Signature Bank took a major risk by investing in cryptocurrency. SVB, which was the 16th largest bank in the US, invested primarily in low-interest, longterm government bonds. However, SVB's depositors were not the hoi polloi. Most of their depositors were businessmen.
هذه القصة مأخوذة من طبعة March 29, 2023 من Millennium Post Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 29, 2023 من Millennium Post Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
SRH AT SECOND SPOT WITH 17 POINTS - Salt-less Kolkata take on Sunrisers Hyderabad in power-hitting slugfest
High-flying Kolkata Knight Riders and an unpredictable Sunrisers Hyderabad, teams that have built their IPL 2024 campaign on power-hitting, will look to outmuscle each other in Qualifier 1 here on Tuesday.
MALAYSIA MASTERS - Focus on Sindhu as she looks to end title drought
Back from a break, P V Sindhu will look to hit the right notes in her quest for some confidence-boosting wins ahead of Paris Olympics when she spearheads India's campaign in the Malaysia Masters badminton tournament starting here on Tuesday.
Peak power demand hovering near projected 235 GW this month amid severe heat wave
Last week, the peak power supply touched 229.57 GW on May 18, while it was around 226 GW on May 15, 16 and 17
PM Modi says his govt’s track record best on job creation front
Listing out the initiatives that created more employment, he said a large number of recruitments have been done in government sector
Govt plans to ensure adequate coal stock at power plants
Coal availability gets impacted during monsoons
India Inc gets inked: Corporate leaders vote for stable govt, development
The half a dozen Lok Sabha seats in Mumbai were along 13 constituencies that voted in the fifth and last phase of elections in Maharashtra
OIL posts highest-ever quarterly profit in March
Oil India Ltd declared its financial results for FY202324, in its 554th meeting of the Board of Directors held on 20th May 2024. On the strength of sound operating performance reflected in highest ever O+OEG production of 6.54 MMTOE, the company registered highest ever EBIDTA of Rs 11,643.30 crore for FY24.
ONGC consolidated net profit rises 77.9% to ₹11,527 crore in March qtr
For full fiscal 2024, the company’s consolidated net profit jumped 67.7 per cent to Rs 57,101 crore, compared to Rs 34,046 crore in FY23
Japan imposes new rules to climb Mt. Fuji to fight overtourism, littering
The number of Mt. Fuji climbers during the season in 2023 totalled 221,322
AFTER HELICOPTER CRASH KILLS RAISI - Iran's first VP appointed Prez by supreme leader Khamenei
Iran's supreme leader has appointed First Vice President Mohammad Mokhber as country's acting president after a helicopter crash killed President Ebrahim Raisi.