According to various catastrophe risk-modeling services, estimates of the damage caused by Irma alone now range between $40 billion–$50 billion.
Capital Raising & Corporate Finance
Ever since it became a bank holding company in 2008 to stay afloat in the financial crisis, the bank was urged by US Federal Reserve to rely more on ‘sticky’ consumer deposits to lower its risk profile.
Some of this year’s biggest deals include $20 million for Bahraini payment solution PayTabs, $3.5 million for Emirati finance-comparison platform yallacompare and $1.5 million for Emirati mobile-banking solution NOW Money.
The breach has put the personal data of 143 million people at risk of identity theft.
SPACs , created in the US in the 1990s to help financial sponsors raise funds more quickly in capital markets, had suffered, until recently, from a weak IPO market and several failed acquisitions.
Financial regulators the world over are beginning to take a closer look at digital currency Initial Currency Offers and companies that use them to raise funds.
Equity-based real estate platform Yielders is the first Islamic fintech to receive accreditation from Britain’s Financial Conduct Authority.
The golden age of cheap corporate funding is coming to an end. Or is it? After Donald Trump’s surprise election as US president, markets reached a quick consensus that a new economic day was dawning. But interest rate hikes may not come as fast--or do as much damage--as some expect.
Not likely. American towns and cities have lost millions of manufacturing jobs, yet manufacturing output has actually risen 85% since 1987.
A new, special-purpose bank charter set to be awarded to select financial technology companies promises to be a boon for both the companies and banks, two fintech experts say.
The Accounting and Auditing Organization for Islamic Financial Institutions (Aaoifi) has issued a new shariah standard that allows Islamic financial institutions to use gold.
The dollar’s mid-December surge to a 14-year high is pressuring currencies pegged to the greenback, while making it more difficult for emerging markets countries with weakening currencies to repay increasingly expensive, dollar-denominated debt.
Malaysia’s central bank, Bank Negara Malaysia, has issued new hedging and foreign exchange rules aimed at restoring stability to the ringgit, which has been under pressure for some time. However, the effort may well have the opposite effect.
The Shenzhen–Hong Kong Stock Exchange has become one of the dual channels through which mainland Chinese investors may have direct access to Hong Kong–listed stocks, and signals The latest connection signals further integration and extends China’s capital impact deeper into the Hong Kong market.
Western European banks and institutions are expanding financing for small and medium-sized companies in Turkey.
After an absence from financial markets, special-purpose acquisition companies, or SPACs, have recently returned--and are popping up in new markets around the world.
With alternative lending on the rise, Brazil seeks to establish new and reliable sources of financial information.
With interest rates in negative territory and quantitative easing having run its course, central bankers are thinking about turning to cryptocurrencies to solve problems.
After several years of inactivity, the Gulf Cooperation Council (GCC) could see a spate of M&A deals in financial services.
As fintech becomes both partner and competitor to global and regional banks—and other financial services firms—it is increasingly coming under the scrutiny of regulators. But how that regulatory framework develops is different in each jurisdiction. In the province of Ontario, ...