Russia Overtakes Saudi Arabia To Become China’s Top Oil Supplier
According to Reuters, Russia has overtaken Saudi Arabia to become China’s top oil supplier after Chinese imports of crude from Russia jumped by 23.8% year over year to 1.94 million barrels per day (bpd) in January and February 2023.
Banks Borrow Record $164.8 Billion From Fed To Avoid Collapse
Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.
Interpol Drops Mehul Choksi From Red Corner List, Fugitive Diamantaire Can Now Travel Freely
According to sources in the intelligence community, Interpol has dropped fugitive diamantaire Mehul Choksi from the “Red Corner list, and he can now travel freely.
Who Is Next After Credit Suisse
After it would borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank, people are wondering what’s next after Credit Suisse.
RBI Allows India And Tanzania To Use National Currencies For Trading
The Reserve Bank of India (RBI) has given the go-ahead for India and Tanzania to use their national currencies for bilateral trade settlement. The use of national currencies in bilateral trade settlements is expected to reduce the cost of transactions and enhance the efficiency of cross-border trade. This, in turn, will lead to increased trade volumes and greater economic cooperation between India and Tanzania.
Indian Startups Have Deposits Of About $1 Billion In SVB
India’s state minister for technology, Rajeev Chandrashekhar, said that Indian startups have deposits of about $1 billion in SVB.
Pentagon Mobilized To Help Defense Tech Startups After SVB Failure
In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.
The Saudi Video That Set Credit Suisse On Fire
Credit Suisse’s largest investor, the Saudi National Bank, said that it could not provide the Swiss bank with any further financial assistance in a video that set Credit Suisse on fire.
Gavin Newsom Kept SVB Ties Secret While Lobbying For Bailout
Multimillionaire California Governor Gavin Newsom failed to disclose his ties to Silicon Valley Bank while lobbying the White House and the Treasury Department over a pending bailout, The Intercept reported on Tuesday.
Is Credit Suisse Next To Fail
Credit Suisse shares fell five percent to an all-time low in early trading and in Europe on Tuesday after the bank confirmed material weaknesses and an $8billion loss in 2022, just hours after a financial expert claimed it would be the next institution to fall following SVB.