Economy
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Switzerland scraps bonuses of Credit Suisse execs
The Swiss government said Wednesday it would scrap the outstanding bonuses of the Credit Suisse executive board following the bank’s…
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Sanctions-hit VTB, Russia’s second-largest bank, reports huge loss
Russia’s second-largest bank, VTB, reported Wednesday a huge loss amounting to $7.7 billion in 2022 after it was hit hard…
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Eat lamb, not beef, says Turkey minister as food prices soar
Turkey’s top economic official has come up with a novel suggestion to address persistent food inflation: eat more lamb. Treasury &…
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Abu Dhabi energy giant ADNOC seeks near $1 billion in logistics unit IPO
Abu Dhabi’s main energy company is seeking to raise about $1 billion from the initial public offering of its shipping…
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South Africa revokes ‘state of disaster’ over power crisis
South Africa has revoked a national “state of disaster” declared in February to manage a crippling electricity crisis, the government…
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OPEC+ spurs curious oil move as prices soar but volatility dips
After a surprise OPEC+ cut prompted an 8 percent surge in crude prices, an unusual market signal is hinting the cartel may…
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IMF warns of ongoing financial risks following banking turmoil in US, Europe
The recent banking turmoil in the United States and Europe could spread to crucial non-bank institutions like pension funds, further complicating…
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Saudi wealth fund PIF discloses ties to global venture capital, private equity firms
The venture arm of Saudi Arabia’s sovereign wealth fund has disclosed its ties to more than 50 venture capital and…
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Ruble tumbles to its weakest against the dollar in almost a year
The Russian ruble tumbled to its weakest against the dollar in almost a year on Tuesday, edging closer to the…
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Baghdad, Erbil sign final deal to restart northern oil exports
Iraq’s federal government and the Kurdistan Regional Government (KRG) signed a deal to restart northern oil exports on Tuesday, official…
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