Paul cominsky silicon valley bank

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank "failed badly," but that the bank's collapse did not indicate wider weaknesses in the banking system. "These are not weaknesses that are running broadly through the banking system," he said, adding that the takeover of Credit Suisse seemed to have been a positive outcome. The Federal Open Market Committee policy statement also said the U.S. banking system is "sound and resilient." Even so, Wall Street ended sharply lower after Powell told a news conference that officials were still intent on fighting inflation while also eying the extent to which recent bank failures had cooled demand and slowed lending. The … [Read more...] about U.S. Fed delivers small rate hike amid global banking turmoil

Bangkok (VNA) – Thai police on March 22 announced that they had arrested 20 suspects, including five Indians and 15 Thais, for alleged involvement in a phone scam network preying on elderly Americans. According to local police, the scammers were arrested in Chon Buri, Rayong, Roi Et and Surat Thani on March 21, adding that all five of the Indian suspects were men and 11 of the 15 Thais detained were women. The police also seized 162 bank account books, 61 mobile phones, two cars, one pistol, land title deeds and other assets. The investigation dates back to last year, when US Federal Bureau of Investigation (FBI) and Secret Service agents informed Thai police that Indian cyber criminals and Thai nationals had set up a phone scam network to trick elderly people in US into transferring money to them. The fraudsters, pretending to be US law-enforcement officials, preyed on the fear of their victims by telling them that they were being investigated for alleged money … [Read more...] about Thailand arrests phone scam gang targeting elderly Americans

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes