Author: Steven Sahiounie

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…

It is reported that an artillery regiment of the Southern Military District employed a Giatsint-S self-propelled gun to destroy a Ukrainian army’s weapon emplacement Russian forces uncovered and destroyed two long-term weapon emplacements of the Ukrainian army in the Donetsk area over the past day, Russia’s Southern Battlegroup Spokesman Ivan Bigma said on Monday. “In the Donetsk direction, the team of a Shturm-S anti-tank missile system from an artillery unit of the Southern Military District uncovered and destroyed two enemy long-term weapon emplacements near the community of Kamenka,” Russia’s Defense Ministry quoted the spokesman as saying on its Telegram channel.…

The sentiment permeated talks and fireside chats at the 2023 Blockchain Africa Conference in Johannesburg, South Africa. Many consider Africa the sleeping giant of crypto, and several speakers at last week’s Blockchain Africa Conference in Johannesburg, South Africa picked bitcoin and stablecoins as the top two levers of crypto mass adoption on the continent. The Central African Republic (CAR) adopted bitcoin as legal tender last year and Marius Reitz, General Manager for Africa at crypto exchange Luno, said bitcoin adoption will likely accelerate over the next decade. “I think in the future, in 10 years or so, you could start seeing a…

It was noted that the purpose of these criminal activities was to undermine the situation in Syria The US continues to use Islamists under its control to undermine Syrian President Bashar Assad’s position, Director of the Russian Foreign Intelligence Service Sergey Naryshkin has said, according to a statement from the service. “Director of the Russian Foreign Intelligence Service Sergey Naryshkin has stated that the US continues to use Islamist groups under its control in Syria to undermine the position of that country’s legitimate government led by Bashar Assad,” the statement said. According to the intelligence service, the US has given…