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.

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…

The United States imposed sanctions on eight Iranian executives' of Paravar Pars Company (Paravar Pars), an Iran-based firm for manufacturing Shahed-series unmanned aerial vehicles (UAVs) for Iran's Islamic Revolutionary Guard Corps Aerospace Force (IRGC ASF). This US measure follows other decisions announced by the US Treasury on November 15, 2022,…

The US Treasury revised its vehicle classification definitions, raising the MSRP limit from $55,000 to $80,000 for several Tesla, Ford, GM and VW EVs.