MUMBAI: India’s Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.
“There is absolutely no question of a merger,” Prashant Kumar, the administrator, told the CNBC TV18 channel.
The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender – which is laden with bad debts – failed to raise the capital"...

Rasmala Investment Bank, a leading alternative investment manager, has announced that its North American real estate income fund has acquired a prime research and development facility in Philadelphia, US, for $61 million.

Located in the heart of the Philadelphia Navy Yard complex, one of the premier business parks in the Northeastern US, the property is 100% single-let to Axalta Coating Systems, a global leader in performance coatings for the transportation and industrial sector.

The 175,000 sq ft"...

Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has released new business data to mark International Women’s Day, outlining a major upswing in the number of females trading on its platforms in the UAE and wider Mena region over the past decade.

Celebrated on March 8 annually, International Women’s Day aims"...

ZURICH: The Swiss National Bank posted an annual profit of 48.9 billion Swiss francs ($50.71 billion), the central bank said on Monday, and said it would double its payout to Switzerland’s regional and central governments.
The SNB made a profit of 40.3 billion francs from its foreign currency positions in 2019, boosted by big gains from foreign currency investments bought to weaken the safe-haven franc.
It also made a 6.9 billion franc gain from its gold holdings and 2.1 billion from its Swiss franc positions,"...

WASHINGTON, 2nd March, 2020 (WAM) -- International Monetary Fund, IMF, Managing Director Kristalina Georgieva and President of World Bank Group David R. Malpass on Monday said they stand ready to help member countries address the human tragedy and economic challenge posed by the coronavirus, COVID-19.

''We are engaged actively with international institutions and country authorities, with special attention to poor countries where health systems"...

Standard Chartered’s Middle East and African operations saw profits rise 29 percent in 2019, but the British lender warned on Thursday that its overall global growth in 2020 will be impacted by the coronavirus as over two-thirds of its revenues comes from Asia, particularly China.

The bank earned $684 million in profit before taxation in the Middle East and Africa last year, a 29 percent year-on-year increase, despite underlying income falling"...

i2c Inc., a leading provider of payment and open banking technology, today announced the appointment of Jim McCarthy as President of the company. Reporting to i2c CEO and founder Amir Wain, McCarthy is responsible for i2c teams working with clients, partners and prospects. He is based at i2c headquarters"...

DoorDash, the loss-making US food delivery start-up backed by SoftBank Group, said it has filed for an initial public offering (IPO), setting it up to be one of the most high-profile listings of 2020.

The IPO will be yet another test of investor appetite for unprofitable Silicon Valley start-ups, after the likes of ride-hailing companies Uber Technologies and Lyft struggled last year after going public.

'The"...

DUBLIN: Mastercard Inc plans to hire 1,500 more staff in Dublin over the next three to five years, more than trebling its workforce in one of Ireland’s largest single multinational jobs announcements.
The US credit card issuer has had a presence in Dublin since 2008 where it set up its research and development arm, Mastercard Labs, four years later. Its workforce will increase to more than 2,000 from 650 now, IDA Ireland, the state agency competing to win foreign jobs, said in a statement on Monday.
That"...