Financing

Marqeta, a US-based modern card issuing platform, has agreed to acquire credit card programme management platform Power Finance for a total of $223m in cash. Under the terms of the agreement, Marqeta will pay about one-third of the total consideration...

Swiss investment bank UBS has reported a net profit of $1.65bn for the fourth quarter ended 31 December 2022, a 23% increase compared to $1.34bn for the corresponding quarter in 2021. The company reported total revenues of $8.02bn for the...

The US Federal Reserve increased its target interest rate percentage point quarter on February 1 and yet continued to promise an ongoing surge in the borrowing cost as part of its battle against inflation. As per US central bank, the...

A surge in the cost of borrowing is a much-needed lift for the already troubled banks in Europe, but it does come with a sting in the tail. As the European Central Bank as well as the US Federal...

As per the Saudi Press Agency, the country is planning to borrow $12.9 billion this year. Mohammed bin Abdullah Al-Jadaan, the country’s foreign minister, has given the go-ahead to the Kingdom’s borrowing plan for the year 2023, following the...

A likely ban on bank commissions to financial advisers who are in the business of selling their products can very well be a part of a wider shake-up when it comes to retail financial services in the European Union,...

BENEFIT, an electronic financial transactions services company, signed a Memorandum of Understanding with the Jordanian Payment and Clearing Systems Company (JoPACC). The key focus of the MoU is to foster collaboration and participate in the programs part of the Jordan...