China’s $40 Billion State-Backed Semiconductor Fund
China is gearing up to launch a new state-backed investment fund. This ambitious endeavor aims to raise $40 billion to fuel the development of its semiconductor sector.
Tag: Finance news
Softbank’s Arm Files for the Year’s Biggest US IPO
SoftBank’s Arm Holdings has officially filed for what is expected to be one of the biggest first IPO (Initial public offerings) in 2023. The UK-based chip creator, owned by the Japanese conglomerate SoftBank, is ready to make its debut on the Nasdaq, denoting a vital moment in the tech industry’s landscape.
Indonesia’s Amman Mineral Emerges as 2023’s Large IPO with 150% Gain
Indonesia’s mining sector has seen a noteworthy accomplishment in 2023, with PT Amman Mineral International, an prominent player in the business, getting the title of the year’s most successful large initial public offering (IPO).
UBS to Pay $1.4 Billion to Settle Mortgage Fraud Case
UBS has agreed to pay $1.4 billion to settle a long standing fraud case connected with residential mortgage-backed securities (RMBS) gave in 2006 and 2007.
Russian Ruble Hits a 17-month Low Against the US Dollar
The Russian economy is facing huge difficulties because of Western sanctions and the continuous clash in Ukraine. These difficulties are reflected in the weakening value of the Russian ruble, which has reached at a 17-month low against the US dollar.
HSBC’s Doubling Net Profit and $2 Billion Share Buyback
HSBC recently released its first-half financial results, revealing a surprising doubling of net profit to $21.7 billion, compared with $9.2 billion in a similar period a year prior.
Evergrande Group Reports Massive $81 Billion Loss Over Two Years
Chinese property developer Evergrande Group recently released its long-overdue financial outcomes, revealing a combined loss of $81 billion over the past two years.
Mortgage Rates in Britain Hits 15 Year High, 2-Year Rate Hit 6.66%
Recent data reveals that mortgage rates in Britain has reached a 15-year high, causing worries among property holders and experts about the possible consequences for the economy.
The $64 Billion Merger between HDFC and HDFC Bank
The $64 billion merger between Housing Development Finance Corp. (HDFC) and HDFC Bank Ltd., making one of the world’s most valuable banks, has revealed insight into the difficulties faced by investments bankers in India.
Altcoins Worth $100 Billion in Danger After SEC Lawsuits on Altcoins
Over 50 altcoins, excluding Bitcoin and Ether, with a total worth of over $100 billion and comprising approximately 10% of the overall market, are now being viewed as securities by the SEC. The prices of major altcoins such as Solana, Polygon, and Cardano have dropped between 23% and 32% following the lawsuits.
