The Latest Breaking News from US Treasury

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

The United States on Thursday imposed sanctions on 39 entities, including many based in Hong Kong, that Washington said facilitate Iran's access to the global financial system, describing them as a "shadow banking" network that moves billions of dollars. The US Treasury Department in a statement said those targeted had…

The United States imposed new sanctions Thursday on Iran-linked shipping and petrochemical companies, including two shipping firms based in China. The sanctions also target 20 shipping vessels linked to firms in China, Vietnam, and the United Arab Emirates, the Treasury Department's website showed. The sanctions were issued under a 2018…

Jake Paul and Tommy Fury will finally fight each other in Saudi Arabia this weekend

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue. An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month. During a press conference in…

Officials from the Central Bank of Iraq, the US Federal Reserve Bank and the US Treasury have met in wake of the drop in the Iraqi dinar's value against the US dollar, creating severe fluctuations in the prices of most commodities and foodstuffs. Economic sources said Washington gave Iraq an…

For the first time since a 2009 financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects now show signs of life

The United States and Britain on Friday sanctioned eight Bulgarians for alleged corruption, including the country’s wealthiest man and a former minister who allegedly profited illegally from deals involving Bulgaria's only nuclear power plant and Russian energy firms.

It didn’t take long for Syria’s Assad regime to seek political and economic benefit from the devastation of an earthquake. As emergency services were reaching victims of the 7.8-magnitude tremor on February 6, regime-linked organisations demanded governments “immediately end the siege and unilateral coercive economic sanctions imposed on Syria and…