Economy
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Russian ruble soars as US banking intervention hurts dollar
The Russian ruble shrugged off slumping oil prices to rise sharply against the dollar on Monday as US authorities launched…
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US defense budget speeds toward $1 trillion, with China in mind
The Pentagon intends to load up on advanced missiles, space defense and modern jets in its largest defense request in…
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US welcomes Saudi Arabia-Boeing deals worth $37 bln
The White House on Tuesday welcomed the recent “landmark deals” between Saudi Arabia and Boeing worth $37 billion. “Our administration looks forward…
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Saudi Arabia deposit of $5 bln enters Turkish central bank accounts: Bankers
A deposit of $5 billion from the Saudi Fund for Development (SFD) entered the accounts of the Turkish Central Bank…
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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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