It took BNY 240 years to pass $50 trillion in assets under custody and administration, reaching 52.1 trillion as of September 30, according to it’s quarterly report, and by doing so became the first bank to cross the milestone....
Low default rates, increased flexibility, technological advancements and evolving regulations are fuelling the adoption of standby letters of credit (SBLCs), a potent instrument. Buyers and sellers should take note: the use of SBLCs is gaining momentum as a payment of...
Turaco Gold has raised $23.4m aimed at accelerating drilling activities at its Afema project in Cote d'Ivoire. With the capital raised, Turaco intends to expedite drilling and exploration activities, including geophysics, at the Afema project. The company also plans to advance...
The industry initiative brings together leading financial and market infrastructures, Euroclear and Swift, along with some of the world's largest financial institutions, including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank. Chainlink announced today the results of an...
They ranked number one in terms of value and volume of M&As in 9M 2024. JP Morgan and UBS were the top mergers and acquisitions (M&A) financial advisers in the Asia Pacific (APAC) region in the first three quarters of...
It seeks to reduce the complexities and costs associated with cross-border transactions. BNY Mellon and Mizuho Bank announced a new partnership aimed at expanding their correspondent banking network to facilitate international trade. The partnership, which leverages both institutions’ trade networks, seeks...
The International Chamber of Commerce (ICC) has launched a tool designed to help banks and trade finance users assess the reliability of platforms providing digital trade documents. Last year’s UK Electronic Trade Documents Act, and the UN model law that...
Trade turmoil, geopolitical uncertainty, could boost gold further. The REL Investments Group reported that gold bullion prices rose by more than US$20 per ounce, reaching US$2,753 per ounce, by setting a historical mark for the yellow metal. “This is not only...
Debt package will support the construction of a 225MW project in north-east of the country. Rezolv Energy has secured up to €90m in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of...
GDP growth for first nine months of 2024 hits 4.8%. China’s economy expanded by 4.6% in the third quarter of 2024 compared to the same period last year, according to official figures released Friday by the National Bureau of Statistics. For...
