Author: Steven Sahiounie

The UK’s central bank has said banks are “safe” after regulators agreed a rescue deal for Credit Suisse aimed at preventing fears over banks spreading. The bank was bought by rival UBS in a Swiss government-backed deal on Sunday after regulators worked frantically round the clock to secure a deal. It comes amid fears over the global financial system after two smaller US banks failed in recent weeks. Despite the swift action by regulators, stock markets in the UK and Asia fell. London’s FTSE 100 index was down 1.6% in early trading, while Japan’s Nikkei 225 lost 1.4%. The Hang…

According to the department, the serviceman has undergone an operation, and his life is now out of danger An Azerbaijani State Border Guard Service officer was wounded as a result of the shelling of the positions of the country’s Border Guard Service from the territory of Armenia, the press service of the State Border Guard Service reported on Monday. “On March 20 at 02:50 (01:50 Moscow time), in the section of the Azerbaijani-Armenian state border passing through the territory of Zangilan District, Armenian armed forces’ units from positions in the direction of the Nerkin Hand settlement of Kafan District, shelled…

The results of the exit poll conducted by the Institute of Democracy indicate that the People’s Party of Kazakhstan is gaining 6.93% Kazakhstan’s ruling Amanat party is winning 53.33% of votes at Sunday’s parliamentary polls, six out of seven political forces vying for parliamentary seats are scoring enough votes to get into the legislative body, according to exit polls conducted by the Institute of Democracy. The People’s Party of Kazakhstan is scoring 6.93% of polls, the Aq Jol (Bright Path) Democratic Party is winning 8.87% of polls, the Auyl (Village) party – 11.26%, and the Respublica Party founded by several…

UBS Group and Credit Suisse Group, two of the biggest names in European banking, are coming together in a government-brokered deal aimed at shoring up public confidence in the Western financial system and averting a global crisis. UBS agreed on Sunday to pay 3 billion Swiss francs ($3.24 billion) in stock to acquire its embattled rival in a takeover underpinned by government guarantees and 100 billion francs in liquidity assistance from Switzerland’s central bank. The agreed price of 1 UBS share for each 22.48 shares of Credit Suisse values the latter bank at less than half its market closing price…

Russia has become China’s largest supplier of natural gas, beating Turkmenistan, Qatar, and Australia, data from the Chinese customs agency shows. Total supplies of the Russian fuel amounted to 2.7 billion cubic meters (bcm) in January. During the same period, Turkmenistan and Qatar supplied 2.2 bcm each, while 1.9 bcm more came from Australia. Most of the Russian gas comes to China via the Power of Siberia pipeline, which has an annual capacity of 38 billion cubic meters. Russia’s state energy major Gazprom delivered nearly 2 bcm of gas via the pipeline in January. Another 0.77 bcm came in the…

Bitcoin, the world’s largest cryptocurrency, continues its upward rally and attracted more bids around the $28k mark as the total cryptocurrency market capitalization exceeded $1.17 trillion, indicating positive momentum in the crypto market and contributing to BTC gains.  This trend coincides with some major US banks experiencing challenges, which has renewed discussions about the significance of digital currency. Likewise, Ethereum has sustained its bullish trend and is trading well above the $1,800 level. Other cryptocurrencies like Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) have also seen significant gains. It is worth noting that Bitcoin, the world’s most popular cryptocurrency, has…

According to Japan’s Defense Ministry, the North Korean missile launched on March 19 flew a distance of up to 800 kilometers, reached a maximum altitude of 50 kilometers, and landed outside Japan’s exclusive economic zone North Korea has successfully conducted a controlled detonation of a test warhead simulating a nuclear strike in its March 18-19 drills, the Korean Central News Agency (KCNA) reported on Monday. “A launch drill simulating a nuclear strike on a major enemy facility was conducted. The missile was equipped with a test warhead simulating a nuclear warhead. The tactical ballistic missile was accurately detonated at an…

LondonCNN — Switzerland’s biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month. “UBS today announced the takeover of Credit Suisse,” the Swiss National Bank said in a statement Sunday. It said the rescue would “secure financial stability and protect the Swiss economy.” UBS is paying 3 billion Swiss francs ($3.25 billion) for Credit Suisse, about 60% less than the bank was worth when markets closed on Friday. Credit Suisse shareholders will be largely wiped out, receiving the equivalent…

Dmitry Medvedev said ICC judges shouldn’t have raised their hand against a major nuclear power The ruling of the International Criminal Court to issue an arrest warrant for Russian President Vladimir Putin will cause disastrous consequences for international law, Security Council Deputy Chairman Dmitry Medvedev said on Monday. “They decided to put on trial the president <…> of a nuclear power that isn’t party to the ICC for the same reasons as the US and some other countries. It’s obvious that the directive was the harshest possible,” the politician said on Telegram. “It’s clear there’s no practical value but thanks…

The 40 former branches of Signature Bank will operate under New York Community Bancorp’s Flagstar Bank, N.A., from Monday. The FDIC will provide digital-banking business deposits directly to those customers. Non-crypto related deposits held by former Signature Bank (now Signature Bridge Bank) will be assumed by Flagstar Bank, N.A., a subsidiary of New York Community Bancorp, as of Monday under a purchase and assumption agreement, the FDIC said in a press release on Sunday U.S. time. Signature Bridge Bank depositors — other than depositors related to the digital banking business — will automatically become depositors of Flagstar, and will continue to be…