Daewoo E&C seeks bigger presence in Iraq

Daewoo Engineering & Construction is aiming to help other South Korean construction firms enter Iraq by leading a project to build the country’s largest port, Al Faw. The firm is currently constructing infrastructure and terminals at the port and is part of a consortium formed with Busan Port Authority and SM Line Gyeong-In Terminal. The […]

How Biden saved Silicon Valley startups: Inside the 72 hours that transformed U.S. banking

The Biden administration rescued Silicon Valley Bank and Signature Bank from insolvency through swift and forceful action. Federal money was advanced to SVB’s depositors to prevent the setbacks to thousands of startups that would have resulted from financial chaos. The Federal Reserve granted access to funds to other similar lenders, ensuring financial stability within the banking […]

The banking crisis and the indispensable dollar

Six big central banks including the US Federal Reserve have reinstated a daily US dollar swap arrangement for non-US banks. These agreements provide liquidity via dollar funding to those banks during times of crises such as Covid-19 or the financial crisis. While some commentators have speculated that the dominance of the US dollar might erode […]

Smear campaign against COAS deserves ‘strongest condemnation’: PM Shehbaz

Pakistan’s Prime Minister, Shehbaz Sharif, has spoken out against opposition leader Imran Khan’s “disgusting” campaign against the country’s army chief, Asim Munir. The prime minister accused Khan of “stooping to unprecedented lows in his desperation for power”, of damaging the country and of undermining the armed forces and their leadership. Sharif said the campaign against the COAS was […]