Day: March 12, 2023

162 posts

US rejects bailout for Silicon Valley Bank

The US treasury secretary said Sunday that the federal government will not provide a bailout for Silicon Valley Bank's (SVB) investors amid the sudden collapse that caused turmoil in US financial markets this week. "During the financial crisis, there ...

Saudi Arabia launches new national airline

Saudi Crown Prince Mohammed bin Salman on Sunday announced the creation of a new national airline. Riyadh Air will be headquartered in the Saudi capital and is wholly-owned by the Public Investment Fund (PIF). The company's board of directors will be c...