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US to bail out SVB depositors, hand emergency loans to banks to avert financial crisis
All depositors will receive their money on Monday, regulators say.
EgyptAir to increase flights to China. PLUS: Green hydrogen, oil exploration and a new startup fund
EgyptAir relaunched flights to China last week.
What really happened at SVB?
This is the second largest bank failure in US history
Silicon Valley Bank collapse leaves dozens of local startups in the lurch
SVB clients are scrambling to find cash to meet payroll and other expenses.
Companies no longer need a credit rating to issue bonds + sukuk
There are some caveats.
Crypto platform Rain throws in with MoneyHash on payments. Plus: STV is fundraising and Raya’s accelerator inks pact with GIZ
MoneyHash’s API will allow Rain to add payment service providers and payment methods across the Middle East and Africa.
UAE fintech Tabby embarks on Egypt recruitment drive as it rethinks local operations
The company plans to at least triple its Egypt-based workforce within the next 12 months
Egypt buys 240k tons of Russian wheat. PLUS: News from EBRD, USAID and more
This is the third World Bank-funded wheat tender this year.
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