The first name who come in mind to answer this question would probably be the powerful JP Margan Chase or Bank of America. They both have been overtaken long ago by the Chinese giants such as ICBC, China Construction Bank and Agricultural Bank of China in the list of the largest banks in terms of…
The bitcoin, the mysterious value created by mathematicians on internet is gradually conquering the real economy. Bitcoin frees itself from the dark side of the Web and settles in everyday life you can now easily find it thanks to special distributor and exchange office or buy with it in certain shops. If this virtual money…
It’s official the global debt now amounts to 324% of the world’s annual economic output, according to a report publish by the Institute of International Finance. Worldwide debt has risen to a record $226-trillion (192.000 trillion euros). This report is released just before, several of the world’s major central banks prepare to tighten their monetary…
There are a lot of banks who are planning to increase their headcount in Saudi Arabia such as Goldman Sachs, JPMargans, UBS and Citigroup.The reason is simple they all expect lucrative opportunities from the recent economics reform that lead to the country’s massive privatisation and its increasingly liberalised financial markets. Goldman Sachs regional boss, Wassim…
EFG International, the Zurich-listed wealth management house that has bulked up from its acquisition of fellow Swiss-based private bank BSI, has appointed a new chief executive to replace Joachim Straehle, who has announced he is retiring at the end of this year. The new CEO is Giorgio Pradelli, who has been chief financial officer. Succeeding…
The initiative to create a blockchain-based technology to support trade finance transactions was first launch by UBS group AG and IBM Corp. Now other bank seems to join the initiative such as Commerzbank AG, Bank of Montreal, Erste Group Bank AG and CaixaBank SA. The platform called Batavia would help banks and their clients automate…
FRANKFURT — Europe has taken a small step in its long march toward economic normalcy. The European Central Bank said on Thursday that it had pondered how to wind down its easy money policies, an enormous stimulus program aimed at promoting growth and inflation in the eurozone. But the bank also postponed a decision on…
What will technological change deliver in the coming decades? Higher unemployment? Or a wealth of new job opportunities? And what can we do to determine the outcome? Technological change in any given society is never smooth and always negotiated. Although both perils and opportunities await, the ultimate result depends on our choices today. Governments, businesses,…
John Cryan says bubbles are emerging in parts of market ahead of European Central Bank monetary policy meeting. It is time to start raising interest rates, the chief executive of Deutsche Bank has said, warning that bubbles are emerging in parts of the market. Speaking in Frankfurt, John Cryan said: “The era of cheap money in Europe…
France’s BNP Paribas harbors ambitious plans for its Swiss business: assets under management as well as profit are due to rise substantially thanks to a set of measures that includes cost cuts. Geoffroy Bazin, CEO of BNP Paribas Switzerland since 2013, on Friday presented the growth plan named «Swiss Forward». He presented the new strategy…
