Finance

Manulife Financial has embarked on a significant transaction, agreeing to reinsure $5.8-billion of Canadian Universal Life reserves with RGA Life Reinsurance Company of Canada, announced on March 25, 2024. This strategic move is expected to generate $800-million of capital for Manulife, earmarked […]

Following a shocking series of events within the Steinhoff conglomerate, Stéhan Grobler, a key legal figure and business associate of the late Markus Jooste, surrendered to authorities, sparking further intrigue in the ongoing Steinhoff scandal. This development came shortly after the former […]

The Federal Reserve, in a move closely watched by markets worldwide, stands firm on its path to adjust monetary policy in response to shifting economic landscapes. Despite an uptick in its 2024 inflation forecasts, the Fed has signaled potential rate cuts, […]

The head of the International Energy Agency (IEA), Fatih Birol, emphasized on Thursday the indispensable role of nuclear power in achieving global climate objectives, marking a pivotal moment for energy policy worldwide. This statement comes at a time when incidents, including an […]

DUBAI, United Arab Emirates — In a bold move to dominate the global artificial intelligence (AI) landscape, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is reportedly in advanced discussions with American venture capital giant Andreessen Horowitz to create a […]

Amidst an evolving financial landscape, Hong Kong’s private credit market is emerging as a hotbed for investors and businesses seeking alternative financing solutions. With contributions from industry insiders like lorrettaa_chen and insights from Aileen Chuang of the South China Morning Post, […]

March 19 (Reuters) – U.S. Bank NA and Oppenheimer & Co have agreed to pay fines to settle charges from the U.S. Commodity Futures Trading Commision over use of unapproved communications channels, the regulator said on Tuesday. U.S. Bank will […]

Saudi Arabia plans to create a fund of about $40bn to invest in artificial intelligence (AI), the New York Times reported on Tuesday. Representatives of Saudi Arabia’s Public Investment Fund (PIF) have discussed a potential partnership with US venture capital firm Andreessen […]

HONG KONG, March 19 (Reuters) – Fund manager Fidelity International (FIL) is planning to lay off 20 people at its main China unit, two sources familiar with the matter said, a reduction that coincides with a downturn in China’s markets […]

Ethiopia’s Commercial Bank of Ethiopia (CBE), the nation’s biggest bank, is in turmoil following a significant system malfunction over the weekend that enabled customers to withdraw amounts far exceeding their account balances. This incident has led to more than $40 million […]