Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as it looks to attract more foreign capital to support economic diversification, Bloomberg reported. The updated investment law enhances investor rights by guaranteeing the rule of law, fair treatment and the freedom to...
US regulators seize First Republic Bank, sell to JPMorgan Chase
With its assets standing at $233 billion at the end of March, First Republic would be the second largest bank to fall in US history. The FDIC has said that it will enter into a purchase and assumption agreement with JPMorgan Chase Bank, National Association, Columbus, Ohio, to assume all...
After SVB fall, US regulators shut down crypto-focused Signature Bank
Signature Bank was reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked down on lenders’ exposure to digital assets. The bank raced to find a buyer or another solution to shore up its finances before Monday morning, but failed to get a...
SVB failure unnerves USDC, other cryptocurrencies
The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in US history. The bank is expected to reopen on Monday under a new name.
