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Xinhua Headlines: Xinhua's top 10 world news events in 2023

(231230) -- BEIJING, Dec. 30, 2023 (Xinhua) -- People queue up outside the headquarters of the Silicon Valley Bank (SVB) in Santa Clara, California, the United States, March 13, 2023. The SVB was closed on March 10 by regulators. Top 10 world news events in 2023 4. "De-risking" exacerbates global economic predicament In March, some Western politicians came up with the concept of "de-risking," extending the underlying logic of "decoupling" and the "small yard, high fence" doctrine. This goes against economic laws and historical development trends, essentially rejecting opportunities, cooperation, stability and development. Currently, the world economy faces multiple challenges which thwart the recovery process. The Federal Reserve's continued aggressive interest rate hikes have sharply increased risks in American and European banking sectors, leading to deteriorating global liquidity and rising default risks in emerging economies. The United States has been persistently advancing protectionist indust

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Informal economic and financial affairs ministerial meeting ECOFIN - Spain

European Banking Authority (EBA) Chairman José Manuel Campa (2r) and First Vice-President and Acting Minister for Economic Affairs and Digital Transformation Nadia Calviño (1r) upon arrival at the meeting of the Council in its Economic and Financial Affairs formation (ECOFIN) on September 16, 2023, in Santiago de Compostela, A Coruña, Galicia, Spain. Some 1,600 people are participating in this ECOFIN, the informal ministerial meeting of the European Union's Economic and Financial Affairs Council. Representatives from 60 European and Latin American countries are attending this meeting, which brings together 100 delegations and more than 350 media. The delegations address issues such as strategic autonomy and the strengthening of international economic cooperation, especially with Latin America. These people represent around 14% of the world's population and 21% of the world's GDP. Photo by Álvaro Ballesteros / Europa Press/ABACAPRESS.COM 09/16/2023

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Greek experts call for vigilance after banking turmoil in U.S., Switzerland

STORY: Greek experts call for vigilance after banking turmoil in U.S., Switzerland DATELINE: March 31, 2023 LENGTH: 00:02:18 LOCATION: Athens CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Greece 2. SOUNDBITE 1 (Greek): VALIA ARANITOU, Associate professor, Athens and Kapodistrian University 3. SOUNDBITE 2 (Greek): PANAGIOTIS PETRAKIS, Emeritus professor, National and Kapodistrian University of Athens 4. various of views in Athens STORYLINE: Greek experts have called for vigilance and rapid action in the wake of the banking turmoil triggered by the collapse of three U.S. banks and the crisis at Swiss banking giant Credit Suisse this spring. Greek experts have said that despite there being no imminent threats to the Greek or European banking system and economy and that a repeat of the 2008 financial crisis is unlikely, vigilance is required after such banking turmoil. SOUNDBITE 1 (Greek): VALIA ARANITOU, Associate professor, Athens and Kapodistrian University "I find the U.S. banking crisis right no

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Reforms soften blow of Europe's banking crisis but risks remain

STORY: Reforms soften blow of Europe's banking crisis but risks remain DATELINE: March 26, 2023 LENGTH: 00:02:21 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1.various of European banks 2.various of Silicon Valley Bank 3. SOUNDBITE 1 (English): LORENZO ROCCO, Professor, Department of Economics and Management, University of Padova 4.various of European banks 5.SOUNDBITE 2 (English): ANDREA GIURICIN, Professor of finance and mobility management at Bicocca University in Milan 6.various of European Union STORYLINE: European analysts said that financial sector reforms put into place in the wake of the global financial crisis 15 years ago have so far helped protect European banks from being hit harder by the ongoing banking crisis. But the latest round of problems have still not fully run their course. The current banking sector fragility was sparked by the collapse of two regional banks in the United States -- Silicon Valley Bank in California and New York's Signature Bank. Soon after, Switzerland's Credit Suiss

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Deutsche Bank stocks sink

STORY: Deutsche Bank stocks sink DATELINE: March 26, 2023 LENGTH: 00:01:11 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the Deutsche Bank and Commerzbank AG 2. various of street views STORYLINE: The share prices of Germany's biggest lender Deutsche Bank (DB) plunged on Friday as concerns about the health of European banks are mounting in the wake of the collapse of banks in the United States. DB topped the list of companies that suffered the sharpest decline of their shares on the German stock exchange (Deutsche Boerse), down 8.53 percent at closing on Friday. The share price of Commerzbank AG, the second largest bank in Germany, dropped 5.45 percent. DB has lost some 30 percent of its market value since the onset of worries about the banking sector sparked by the shutdown of the U.S. Silicon Valley Bank about two weeks ago. There is still no sign that investors' nervousness about European banks is abating. The slump of share prices of DB and Commerzbank is believed to

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U.S., Europe in bank turbulence, triggering fears globally

STORY: U.S., Europe in bank turbulence, triggering fears globally DATELINE: March 19, 2023 LENGTH: 00:02:37 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of banks in U.S. and Europe 2. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 3. SOUNDBITE 2 (English): LARRY BENEDICT, CEO & founder of The Opportunistic Trader 4. SOUNDBITE 3 (English): BREDAN AHERN, Chief Investment Officer of U.S.-based asset management firm Krane Funds Advisors STORYLINE: U.S. financial markets have been quite volatile recently after the near-simultaneous collapse of Silicon Valley Bank, Silvergate Bank and Signature Bank challenged confidence in the financial system. The turmoil has sent shockwaves across the banking industry and caused the stock prices of European banks to plummet. The biggest victim so far was Credit Suisse. The second-largest Swiss banking group has secured an emergency loan from the country's central bank after its shares

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Growing fallout from U.S. bank failures sparks worries across banking sector

STORY: Growing fallout from U.S. bank failures sparks worries across banking sector DATELINE: March 17, 2023 LENGTH: 00:02:48 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): GIORGIO DI GIORGIO, Professor of macroeconomics and monetary policy at Rome's LUISS University 2. SOUNDBITE 2 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 3. SOUNDBITE 3 (English): XN IRAKI, Kenyan economist STORYLINE: Growing fallout from the collapse of two U.S. banks -- Silicon Valley Bank (SVB) from California and New York's Signature Bank has sent jitters across the banking sector. Many experts have expressed their concerns over the failures of the two U.S. banks. Worries about its impact on European financial institutions began to push share prices downward. Led by banking shares, most European stock exchanges suffered significant losses on Monday and Wednesday, each time followed by only modest rebounds. An Italian expert has said a major factor contributing to the troubles was ris

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Fallout from collapse of U.S. banks causes more trouble in Europe

STORY: Fallout from collapse of U.S. banks causes more trouble in Europe DATELINE: March 16, 2023 LENGTH: 00:00:52 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of the banks in Rome 2. various of U.S. dollar and Euros STORYLINE: Banking giant Credit Suisse lost nearly a fourth of its value Wednesday, amid the growing fallout from the collapse of two regional banks in the United States. New York-based Signature Bank was shut down Sunday by state regulators, two days after California's Silicon Valley Bank (SVB) collapsed as depositors rushed to withdraw funds. Wednesday marked the second time in three trading sessions since the U.S. bank failures, that European financial stocks were severely battered. Nevertheless, the dramatic impact on Credit Suisse in trading Wednesday was largely unexpected, since the institution is so large. According to 2022 data from Insider Intelligence, Credit Suisse was the second-largest bank in Switzerland and the 17th-largest in Europe, with an estimated 730 billion

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U.S. regional bank failures evoke unease in banking sector

STORY: U.S. regional bank failures evoke unease in banking sector DATELINE: March 16, 2023 LENGTH: 00:01:37 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the exterior of New York Stock Exchange Silicon Valley Bank 2. various of the exterior of Credit Suisse 3. various of screenshots of Moody's report 4. various of Silicon Valley Bank 5. various of Signature Bank 6. various of street scenes in U.S. 7. SOUNDBITE 1 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk 8. SOUNDBITE 2 (English): XN IRAKI, Kenyan economist STORYLINE: U.S. and European stocks plunged on Wednesday, as turbulence at Credit Suisse renewed fears of a banking crisis. Banking giant Credit Suisse lost nearly a fourth of its value Wednesday, amid the growing fallout from the collapse of two regional banks in the United States. Rating agency Moody's has slashed its outlook on the entire U.S. banking system to negative in the wake of failures at the Silicon Valley Bank (SVB) and Signature Bank (SNY). Experts hav

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Cyprus financial crisis

NICOSIA, Cyprus - Women visit an ATM corner of a bank in Nicosia on March 25, 2013. The European Union and Cyprus reached a basic agreement the same day on the terms of a 10 billion euro bailout plan for the banking crisis-hit Mediterranean country to avert a bankruptcy.

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ICBC Turkey awarded for coordinating RMB syndicated loan in Turkey

STORY: ICBC Turkey awarded for coordinating RMB syndicated loan in Turkey DATELINE: May 7, 2022 LENGTH: 00:01:30 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1. various of ICBC Bank Headquarters building in Istanbul, Turkey 2. various of Istanbul, Turkey 3. various of Turkey's central bank 4. various of DenizBank Headquarters building in Istanbul, Turkey 5. various of Bora Bocugoz, group executive vice president of treasury, finance at private banking at DenizBank in Istanbul STORYLINE: The Turkish subsidiary of the Industrial and Commercial Bank of China (ICBC) was awarded the "Deal of the Year" in the European region by The Banker magazine, which evaluates the most valuable financial institutions around the world, ICBC Turkey said in a press release on Friday. ICBC Turkey was granted the award for successfully coordinating the first syndicated loan for DenizBank to include an RMB-denominated tranche. With this deal, the ICBC Turkey contributed to increasing "the settlement and clearing

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Dollar falls below 100 yen line on Brexit fears

Bank dealers closely watch monitors on exchange rates at the Tokyo headquarters of Mitsubishi UFJ Trust and Banking Corp. on June 24, 2016, as the U.S. dollar slipped below the 100 yen line for the first time since November 2013 on reports that the Leave vote is leading in the British referendum on its European Union membership. (Kyodo) ==Kyodo

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Dollar falls below 100 yen line on Brexit fears

Bank dealers closely watch monitors on exchange rates at the Tokyo headquarters of Mitsubishi UFJ Trust and Banking Corp. on June 24, 2016, as the U.S. dollar slipped below the 100 yen line for the first time since November 2013 on reports that the Leave vote is leading in the British referendum on its European Union membership. (Kyodo) ==Kyodo

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Dollar falls below 100 yen line on Brexit fears

Bank dealers closely watch monitors on exchange rates at the Tokyo headquarters of Mitsubishi UFJ Trust and Banking Corp. on June 24, 2016, as the U.S. dollar slipped below the 100 yen line for the first time since November 2013 on reports that the Leave vote is leading in the British referendum on its European Union membership. (Kyodo) ==Kyodo

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Britain's referendum on European Union membership

Bank dealers closely watch reports on Britain's referendum on European Union membership at the Tokyo headquarters of Mitsubishi UFJ Trust and Banking Corp. on June 24, 2016. (Kyodo) ==Kyodo

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Britain's referendum on European Union membership

Bank dealers closely watch reports on Britain's referendum on European Union membership at the Tokyo headquarters of Mitsubishi UFJ Trust and Banking Corp. on June 24, 2016. (Kyodo) ==Kyodo