China to invest billions in chipmaking capabilities to catch up with global rivals
Jul 09, 2020 00:05 am UTC| Economy
Semiconductor Manufacturing International Corporations (SMIC) listing in Shanghai could raise it as much as $7.5 billion, which would be invested in technology to catch up with global competitors. Chinas SMIC, which...
Big US banks set to earn huge PPP loan fees
Jul 08, 2020 23:48 pm UTC| Economy Investing
The largest banks in the US will earn hundreds of millions of dollars in transaction fees under the federal governments Paycheck Protection Program. JPMorgan Chase processed the most PPP at $28.8 billion of loans as of...
UAE says its banks are capitalized enough to withstand any shock
Jul 08, 2020 23:40 pm UTC| Economy
Banks in the UAE are adequately capitalized to withstand any macro-financial shock caused by the coronavirus crisis and the drop in oil prices, says the countrys central bank. The statement was in reaction to rating...
US investment banks take funding intended for small businesses
Jul 07, 2020 11:19 am UTC| Economy
Investment banks advising on corporate dealmaking received tens of millions of dollars from the $660 billion Paycheck Protection Program (PPP), which were earmarked to assist small businesses in the pandemic-induced...
Canada urged to focus on boosting economy than managing debt
Jul 07, 2020 08:51 am UTC| Economy
Analysts say Canada should focus on implementing measures to boost economic growth and incentives to get people back to work instead of managing its budget deficit. Due to the countrys growing debt, Fitch downgraded...
EU warns of decisive action against US over trade disputes
Jul 07, 2020 06:29 am UTC| Economy
The EU is threatening to take decisive action against the US over its unwillingness to settle the issue of aircraft subsidies and its plan to conduct new investigations in trade deficits. The aircraft trade dispute...
S. Korea posts record-high forex reserves of $410.75-B
Jul 06, 2020 11:43 am UTC| Economy Central Banks
South Koreas foreign exchange reserves reached a record high of $410.75 billion in June, having gained $3.44 billion from May due to profits and investment returns from overseas assets and a weak dollar. The June...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Why Germany ditched nuclear before coal – and why it won’t go back
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight