Economy
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Biden tells Americans they can ‘have confidence’ in banking system
President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse…
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UAE’s Adnoc Gas shares jump 25 percent after IPO raised
Adnoc Gas, a subsidiary of Abu Dhabi’s main energy company, surged in its trading debut after raising $2.5 billion in…
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State regulators close New York’s Signature bank, say depositors will be made whole
State regulators closed New York-based Signature Bank on Sunday, just two days after California authorities shuttered Silicon Valley Bank, in a…
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Powerful UAE royal’s firm mulls takeover of SVB’s UK unit
Royal Group, an investment firm controlled by a top Abu Dhabi royal, is considering a possible takeover of the UK arm…
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Biden assures depositors, says committed to efforts of oversight of larger banks
US President Joe Biden on Sunday said the Treasury Secretary and National Economic Council Director worked diligently with the banking regulators to…
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US marshalling ‘material action’ to stem SVB fallout: Report
US authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank (SVB) and try to…
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US Secretary Yellen says working to address SVB collapse, but not looking at bailout
US Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse…
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Aramco’s Nasser says oil market tightly balanced
Aramco’s chief executive Amin Nasser said on Sunday the market would remain tightly balanced in the short to medium term,…
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Silicon Valley Bank failure rattles USDC, other cryptocurrencies
The supposedly “stable” cryptocurrency USDC fell sharply after the firm that created it, Circle, announced it holds $3.3 billion in…
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Boeing says to set up freight conversion facility in India
Boeing Co will set up in India a facility to convert passenger aircraft into freight planes to capitalize on growing…
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