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Credit Suisse slump renews fears of global banking crisis

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The price of Credit Suisse shares hits a record low after its biggest shareholder, the Saudi National Bank, said it would not inject more money (pic Aljazeera)

Aljazeera reported that Shares in Credit Suisse have plunged and dragged down other major European lenders as fears about deeper problems in the world banking system have spread in the wake of bank failures in the United States.

Credit Suisse shares lost more than a quarter of their value on Wednesday, hitting a record low after the Swiss bank’s biggest shareholder, the Saudi National Bank, told news outlets that it would not inject more money into the bank, which was beset by problems long before the US banks collapsed.



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Donald Trump to be charged over hush money

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(picture BBC)

BBC reported that former US President Donald Trump will be charged over hush money payments made to a porn star just before the 2016 presidential election.

The details of the case against him have not yet been released. A grand jury has voted to indict him after investigating a $130,000 pay-out to Stormy Daniels in an attempt to buy her silence over an alleged affair.

Trump, 76, denies wrongdoing. He is the first serving or former US president to face a criminal charge.

The office of Manhattan District Attorney Alvin Bragg, who has been pursuing the investigation, confirmed that it had contacted Trump’s attorney to “co-ordinate his surrender” on unspecified charges.

The ex-president lives in Florida and is expected to travel to New York City for his formal arrest and first hearing in court. Trump is expected to fly to New York on Monday and be arraigned in court on Tuesday, two sources familiar with the matter told CBS News, the BBC’s US partner. The charges in the indictment will be read to him at the hearing, which is set to last about 10-15 minutes.

The United States Secret Service – which is tasked with protecting serving and former US presidents – will be in charge of security for the court appearance.

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Property tax to be replaced with Wealth Tax, Gift Tax and Estate Tax – President

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President Ranil Wickremasinghe while tabling the IMF agreement in Parliament today (22) in his capacity as the Minister of Finance said that he would introduce Wealth Tax, Gift Tax and Estate Tax  in lieu of the existing Property tax.

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Two dead after quake rattles Pakistan, Afghanistan, India

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Aljazeera reported that a magnitude 6.5 earthquake has rattled Afghanistan and northern Pakistan, and tremors were felt as far away as India.

The quake epicentre is 40km (25 miles) south-southeast of the Afghan town of Jurm, near the borders with Pakistan and Tajikistan, according to the United States Geological Survey.

Rezcue officials have confirmed that two persons had died in Pakistan’s Khyber Pakhtunkhwa province.

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