finance

Weaponizing Global Finance

A new U.S. law targets suspicious accounts down to the micro-level By Nicholas Noe Looking back at the American-led response to the 9/11 attacks, it is difficult to find clear-cut successes tied to military intervention. Osama Bin Laden may have been killed, but his organization—and even more brutal successors like Daesh—has expanded. At the same

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Iraqi Kurdistan’s Cash Crisis Hits Banks—And the Region’s Promise

By Stephen Kalin BAGHDAD, Dec 4 – Iraqi Kurdistan’s cash-strapped government has seized billions of dollars in deposits at two branches of Iraq’s central bank since 2014, bankers said, calling into question the region’s image as a business-friendly paradise in the Middle East. Since Baghdad cut budget payments to Kurdistan in January 2014, the Kurdistan

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U.S. Develops New Tools in Economic War Against Daesh

By Yeganeh Torbati and Brett Wolf WASHINGTON, Nov 24 – Since last month, U.S. warplanes have struck Daesh’s oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group’s black-market earnings from oil by about a third. In finding their targets, U.S. military planners have relied

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How Will Global Markets Respond to Paris Attack?

By Christopher McCall and Hideyuki Sano SYDNEY/TOKYO, Nov 15 – Global stocks are set for a short-term sell-off on Monday after terrorists launched coordinated attacks across Paris that killed 129 people, but analysts said a prolonged economic impact or market reaction was unlikely. President Francois Hollande has declared a state of emergency, ordering police and

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Standard and Poor’s Takes Negative Ratings Action Against 8 Saudi Banks

By Staff Writer Standard & Poor’s Ratings Services took negative rating actions on eight Saudi banks, citing increased economic risks as the main reason. The ratings agency, which has recently lowered the Kingdom’s ratings to ‘A+/A-1’, said the sharp drop in oil prices and the resulting negative swing in Saudi Arabia’s fiscal balance “will weaken

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Ratings On Saudi Arabia Lowered To ‘A+/A-1’; Outlook Remains Negative

By staff reporter Standard and Poor’s Ratings Services lowered its unsolicited long-and short-term foreign- and local-currency sovereign credit ratings on the Kingdom of Saudi Arabia to ‘A+/A-1’ from ‘AA-/A-1+’. The outlook remains negative. In a report issued late Friday, S&P also revised its transfer and convertibility (T & C) assessment on Saudi Arabia to ‘AA-‘from

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