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UBS faces criticism from proxy adviser Ethos over Credit Suisse deal
Business News
UBS faces criticism from proxy adviser Ethos over Credit Suisse deal
Ethos says UBS should have spun off Credit Suisse’s Swiss business Ethos, a Swiss proxy adviser, has expressed its disappointment with UBS’s decision to fully integrate Credit Suisse’s Swiss business, after the two banks announced their merger in August 2023. Ethos said that UBS should have spun off Credit Suisse’s Swiss business instead, to avoid a major systemic risk for Switzerland, an important negative impact on employment and issues for…
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How Silicon Valley tech moguls are trying to cheat death
News Technology
How Silicon Valley tech moguls are trying to cheat death
The quest for immortality Death is inevitable, or so we have been told. But what if there was a way to extend our lifespan beyond the natural limits? What if we could live forever, or at least for a very long time? This is the question that some of the richest and most powerful people in the world are trying to answer. They are the tech moguls of Silicon Valley,…
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CBE trains African central banks on big data and AI applications
Business News
CBE trains African central banks on big data and AI applications
The Central Bank of Egypt (CBE) is hosting a training course on the application of big data analysis and artificial intelligence (AI) to central banking, in collaboration with the COMESA Monetary Institute (CMI). The course, which runs from August 27 to August 31, 2023, is part of the presidential directives to support Egyptian-African cooperation and integration. Course objectives and participants The course aims to enhance the skills and knowledge of…
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Fed tightens supervision of regional banks after failures
Business News
Fed tightens supervision of regional banks after failures
The Federal Reserve is stepping up its oversight of regional banks in the wake of three bank collapses earlier this year, according to a report by Fox Business. The central bank has issued a number of private warnings to lenders with assets of $100 billion to $250 billion, urging them to improve their liquidity planning, capital adequacy, technology and compliance. Regional banks face liquidity and interest rate risks The Fed’s…
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Turkish Banks Report 41% Increase in Net Profit in First Seven Months of 2023
Business News
Turkish Banks Report 41% Increase in Net Profit in First Seven Months of 2023
Strong Performance Despite Economic Challenges The Turkish banking sector has shown a remarkable resilience in the face of the economic difficulties caused by the COVID-19 pandemic and the currency depreciation. According to the data from the Banking Regulation and Supervision Agency (BDDK), the combined net profit of Turkish banks increased by 41 percent in the January-July period from a year ago to 293.4 billion Turkish liras ($11.1 billion) . This…
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FM directs rural banks to weed out duplicate Jan Dhan accounts
Business News
FM directs rural banks to weed out duplicate Jan Dhan accounts
Finance Minister Nirmala Sitharaman has instructed the regional rural banks (RRBs) to take steps to remove the duplication of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and ensure that the benefits of the scheme reach the intended beneficiaries. She also asked the RRBs to facilitate storage facility for apple growers in Jammu and Kashmir and Himachal Pradesh, where the fruit production is high. PMJDY scheme aims to provide financial inclusion…
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Siasat.com: A Leading News Portal from Hyderabad, India
News
Siasat.com: A Leading News Portal from Hyderabad, India
Siasat.com is a news portal that covers the latest and breaking news from Hyderabad, Telangana, India and the world. The portal offers a wide range of news categories, such as politics, business, entertainment, sports, education, health, lifestyle, religion, culture and more. Siasat.com also features exclusive interviews, opinions, analysis and multimedia content on various topics of interest. Siasat.com: A Brief History Siasat.com is the online version of The Siasat Daily, a…
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Singapore banks caught in $740 million money laundering case
Business News
Singapore banks caught in $740 million money laundering case
Some of the biggest local and international banks in Singapore are facing scrutiny for their alleged involvement in one of the city-state’s largest money laundering cases involving more than S$1 billion ($740 million) of assets. The case has raised questions about the safeguards against illicit money flowing into one of the world’s most important financial hubs. How the money laundering scheme worked According to the charge sheets seen by Bloomberg…
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banks to improve their risk management and compliance
Business News
Fed warns regional banks to improve their risk management and compliance
The Federal Reserve has issued a series of private warnings to several regional banks with assets of $100 billion to $250 billion, urging them to take corrective actions on various issues related to their risk management, capital, liquidity, technology and compliance, according to a Bloomberg News report. Fed steps up supervision of mid-sized lenders The Fed has intensified its scrutiny of mid-sized lenders in the wake of the collapse of…
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Open Banking and AI: A New Frontier for Lending
Finance News
Open Banking and AI: A New Frontier for Lending
Open banking is a concept that allows customers to share their financial data and access a range of services from different providers through APIs. It aims to foster innovation, competition, and customer choice in the financial sector. AI, on the other hand, is a technology that enables machines to perform tasks that normally require human intelligence, such as data analysis, decision making, and risk assessment. Together, open banking and AI…
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