GENEVA (AP) — Credit Suisse’s shares soared 30% on Thursday after it announced it will move…
Category: Business
Bank runs used to be slow. The digital era sped them up
NEW YORK (AP) — A bank run conjures images of “It’s a Wonderful Life,” with anxious…
Kenya renegotiates Arror, Kimwarer Sh19bn defaulted Italian loans
Kenya and Italy have agreed to renegotiate the Sh19.8 billion controversial loan that Nairobi took to…
Cheques from rival banks to be cleared in a day
Bank customers who pay cheques from rival lenders into their accounts will be able to get…
Oil marketers to pay for fuel imports in Kenyan shilling as shortage looms
Local oil companies will pay for oil imported on credit through a government-to-government deal in Kenya…
Dollar shortage to worsen as dividends repatriation starts
Dividend repatriations by listed multinationals and firms with significant foreign shareholding look set to worsen the…
Hydropower generation at record low on drought
Hydropower generation hit a record low in February due to the ongoing drought that has nearly…
Oil giant Saudi Aramco makes a historic $161B profit in 2022
DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco reported Sunday earning $161 billion last…
From Wine Country To London, Bank’s Failure Shakes Worldwide
It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. NEW…
A major bank failed. Here’s why it’s not 2008 again
NEW YORK (AP) — The financial institution best known for its relationships with high-flying world technology…