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The nationalization of Exxon Mobil’s assets in Chad comes after the oil giants divested from them in December 2022. Chad has nationalized all the assets and rights, including hydrocarbon permits and exploration and production authorizations, that belonged to a subsidiary of Exxon Mobil, the West African nation’s energy and hydrocarbons ministry said in a statement … Read more
LONDON — The Bank of England on Thursday hiked interest rates by 25 basis points as it grapples with persistent high inflation against the backdrop of concerns over the banking system. The Monetary Policy Committee voted 7-2 in favor of raising the Bank rate to 4.25%, in a widely anticipated move after official data on … Read more
Finland has been named the happiest country in the world — again. The Nordic country topped the “World Report 2023 Happiness,” published this week by the United Nations Sustainable Development Solutions Network, which measures factors such as income, mental and physical health and societal generosity. According to the report: “Finland continues to occupy the top … Read more
The Federal Reserve is expected to raise interest rates Wednesday by a quarter point, but it also faces the tough task of reassuring markets it could stem a worse banking crisis. Economists mostly expect the Fed will increase its fed funds target rate range to 4.75% to 5% on Wednesday afternoon, though some expect the … Read more
Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report. ECA International’s latest Daily Rates research Ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and … Read more
For most of us, staying in a hotel room is either something of a necessity – think business travel – or something to look forward to as part of a holiday or wider excursion. But what if I told you there’s a large chance your hotel room, despite how it might appear to the naked … Read more
Seychelles and the United States will continue collaboration in maritime security, social and economic development as well as providing more flexibility for the US visa process as a top agenda, the newly accredited American ambassador to Seychelles said. Henry Jardin made the statement to the press after presenting his credentials to President Wavel Ramkalawan on … Read more
JUST returned from my visit to Nyerere National Park, I can’t wait to revisit the park in near future without penning down key highlights about the largest game reserve in the country. I Joined the women tourists’ group from Kisaki Ward in Morogoro District, Morogoro Region and spent the whole day at Nyerere National Park … Read more
The logos of Swiss banks Credit Suisse and UBS on March 16, 2023 in Zurich, Switzerland. Arndt Wiegmann | Getty Images News | Getty Images UBS Shares staged a remarkable rally Monday afternoon, reversing steep losses after the bank’s 3 billion Swiss franc ($3.2 billion) “emergency rescue” of embattled domestic rival Credit Suisse, Shares of … Read more
Signage for Credit Suisse Group AG outside a building, which houses the company’s branch, in Tokyo, Japan, on Monday, March 20, 2023. UBS Group AG agreed to buy Credit Suisse Group in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets. Kosuke Okahara | … Read more
Axel Lehmann, chairman of Credit Suisse Group AG, left, and Colm Kelleher, chairman of UBS Group AG, during a news conference in Bern, Switzerland, on Sunday, March 19, 2023. Pascal Mora | Bloomberg | Getty Images In equal parts “shotgun wedding” and arranged marriage, UBS agreed to buy stricken domestic rival Credit Suisse for 3 … Read more
Banking stocks and bonds plummeted on Monday after UBS Group sealed a state-backed takeover of troubled peer Credit Suisse Group AG, a deal that was orchestrated in an attempt to restore confidence in a battered sector. In a package engineered by Swiss regulators on Sunday, UBS Group AG will pay 3 billion Swiss francs ($3.24bn) … Read more
Switzerland-based Credit Suisse was caught in the turmoil spurred by the collapse of US lenders Silicon Valley Bank and Signature Bank over the past week. Multinational investment bank UBS has reportedly asked the Swiss government to cover about $6bn in costs if it were to buy rival Credit Suisse, Authorities are scrambling to resolve a … Read more
A picture of a crocodile swimming through the mud at the Mana Pools National Park in Zimbabwe has been selected as the grand prize winner of the 2022 World Nature Photography Awards (WNPA), which honored the most evocative shots from thousands of entries in a variety of categories. Titled ‘Danger in the Mud’, the picture, … Read more
Even with turmoil in the banking industry and uncertainty ahead, the Federal Reserve will likely approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. Rate expectations have been on a rapidly swinging pendulum over the past two weeks, varying from a half-point hike to holding the line … Read more