The collapse of SVB and Signature Bank shows that the crisis in the U.S. banking sector is not over yet COMMENT | Vidhura S. Tennekoon | Silicon Valley Bank and Signature Bank failed with enormous speed, so quickly that they could be textbook cases of classic bank runs, in which too many …
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New York, USA | Xinhua | The U.S. dollar fell broadly against its major rivals in late trading on Friday. The dollar index, which measures the greenback against six major peers, dropped 0.67 percent to 103.7153. In late New York trading, the euro rose to 1.0682 U.S. dollars from 1.0611 dollars in …
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New York, US | THE INDEPENDENT | The collapse of Silicon Valley Bank (SVB) has not only revealed billions of dollars in loss but also rattled the technology industry, which had been leading innovation in the past years but yet was disturbed by layoffs and bankruptcies for months. Small businesses …
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Kampala, Uganda | THE INDEPENDENT | Reducing reliance on the US dollar necessitates satisfying financing requirements in local currency and enhancing local financial institutions Whenever I meet clients and investors, the one discussion I always end up having, regardless of market conditions, is on currency markets. There are often strong views …
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Caracas, Venezuela | Xinhua | Venezuelan President Nicolas Maduro said Saturday that U.S. hegemony in Latin America, the Caribbean and the rest of the world is in decline. “The U.S. empire is in historical decline and no longer has anything to offer for the good of the people of Latin America and …
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Washington, USA | Xinhua | A cancerous skin lesion had been removed from U.S. President Joe Biden’s chest, White House physician Kevin O’Connor said on Friday. O’Connor wrote in a memo that the tissue was removed as part of Biden’s health assessment at a military hospital last month and sent for a …
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Washington, US | Xinhua | U.S. President Joe Biden delivered his State of the Union address to Congress on Tuesday night amid a sour public mood. This is Biden’s second State of the Union speech since he took office in January 2021 and the first of its kind before a …
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Brussels, Belgium | Xinhua | The North Atlantic Treaty Organization (NATO) on Friday called on Russia to respect its treaty with the United States on nuclear weapons, which contributes to international stability. NATO ambassadors said in a statement that “We note with concern that Russia has failed to comply with legally-binding obligations …
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Washington, USA | Xinhua | A U.S. military operation killed a number of Islamic State (ISIS) members in Somalia on Wednesday, including a key leader of the extremist group, U.S. Defense Secretary Lloyd Austin said Thursday. Among those killed was Bilal-al-Sudani, “an ISIS leader in Somalia and a key facilitator for ISIS’s …
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Los Angeles, USA | Xinhua | There have been at least 20 million illnesses, 210,000 hospitalizations, and 13,000 deaths from flu so far this season in the United States, according to the latest estimates released Friday by the U.S. Centers for Disease Control and Prevention (CDC). Seasonal influenza activity remains high but …
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The Independent Uganda: You get the Truth we Pay the Price