Author: Steven Sahiounie

The agreement will allow the UK to deport asylum seekers to the African nation in return for a $145 million to Kigali over five years. British Home Secretary Suella Braverman expands a deal with Rwanda which allows the UK to detain asylum seekers reaching the European country and deport them to the African nation. The United Nations High Commissioner for Refugees (UNHCR) earlier slammed this agreement between the two as a “clear breach” of international law, describing it as an “asylum ban”. Braverman, who is on an official visit to Rwanda, claimed that the scheme would “act as a powerful…

Trucks loaded with Russian cucumbers and tomatoes have been spotted in the Polish town of Bronisze, Berliner Zeitung reports Poland continues to import Russian vegetables despite wide-ranging EU sanctions against Moscow, Berliner Zeitung reported this week. According to the newspaper, dozens of trucks are constantly arriving at the wholesale market in the Polish town of Bronisze on the outskirts of Warsaw, loaded with Russian cucumbers and tomatoes. The cucumbers are priced at 55 zloty ($12.48) for 5 kilos, which is well below the cost of EU-produced vegetables, the outlet noted. Vegetables have become increasingly expensive in recent months, with local…

UBS reportedly wants the Swiss state to partly cover the acquisition of the failing lender Multinational investment bank UBS wants the Swiss government to cover about $6 billion of the costs if it agrees to buy Credit Suisse, a rival lender whose shares plummeted this week amid customer outflows and a loss of investors, Reuters reported on Saturday, citing sources. Earlier media reports indicated that the banks were discussing a merger, an idea pitched by the Swiss National Bank and Financial Market Supervisory Authority (FINMA), to save Credit Suisse from insolvency. The government funds are expected to help cover the…

The beverage is finding its way into the sanctioned country through parallel imports, RBK reports Coca-Cola remains one of the top sellers among cola-flavored beverages in Russia, a year after the American company decided to quit the country’s market, business daily RBK reported this week. The iconic drink was the second-most-popular cola beverage among Russian consumers in January and February, accounting for more than 14% of sales per unit, according to RBK’s calculations based on information from fiscal data operator Prodazhi.rf. The top seller among cola drinks is the Dobry Cola brand, produced in Russia at factories that belonged to…

The era of cheap energy from Russia is over, the head of Germany’s utilities regulator has said Germany has managed to avoid an energy crisis this year, but there is a risk that the next heating season will be more difficult, Klaus Mueller, the head of Germany’s Federal Network Agency said in an interview with the Rheinische Post, published on Saturday. According to Mueller, the country’s gas storage facilities are currently 64% full, and even if it the weather turns cold in the next few weeks, German energy supply for the remainder of the heating season is secured. He warned,…

Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening economic crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are…

The visit comes as part of efforts to enforce Iran’s ‘neighborliness diplomacy’ strategy, as per Iranian news agency Nour News. After high-stakes trips to Beijing and Abu Dhabi aimed at rebooting diplomatic and security ties with regional neighbors, Iran Supreme National Security Council Secretary Ali Shamkhani arrived in Iraq. The visit comes as part of efforts to enforce ‘neighborliness diplomacy’ strategy, as per Iranian news agency Nour News. Shamkhani will reportedly meet the Iraqi President, Prime Minister, and Parliament Speaker during his visit, in order to sign a memorandum of understanding on border security, Mehr news agency reported. Iraq is Iran’s second economic…

Insider sources reportedly described the bonus pool as “modest,” adding that the stock held by senior execs had been “rendered worthless” following Silicon Valley Bank UK arm’s “near-collapse.” Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 British pound, according to unnamed sources. In a March 18 Sky News report citing unnamed sources, it was reported that payouts to SVB UK staff and senior executives were signed off “earlier this week” by HSBC UK Bank — the institution which acquired SVB UK for 1 British…

The Kosovar Prime Minister, Serbian president, and EU officials meet in Ohrid, North Macedonia to discuss an EU-backed normalization agreement between the two countries, and despite settling disagreements, no agreement was signed. Serbian President Aleksandar Vucic and Kosovar Prime Minister Albin Kurti, after 12 hours of talks between the two leaders and EU officials in Ohrid, North Macedonia, have settled on how to implement the EU-backed agreement to normalize relations between the two countries, EU foreign policy chief Josep Borell announced on Saturday, without mentioning that no agreement was officially signed. Josep Borrell told reporters that “Kosovo and Serbia have agreed on the…

The emergency preparation will allow the takeover to proceed without the usual “six-week consultation period” with shareholders, according to people familiar with the situation. The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS — Switzerland’s largest bank — is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse to finalize the acquisition before “markets…