Bloomberg The world’s oldest bank is also Europe’s riskiest. Italy’s Banca Monte dei Paschi di Siena SpA was the only one of 51 lenders tested by European regulators to have its capital wiped out in the exam’s toughest scenario. The bank, which has been bailed out twice by the government since 2009, said it plans to sell as much ...

  Bloomberg Saudi Arabia’s central bank offered lenders short-term loans in late June to help ease liquidity constraints, according to five people familiar with the matter. The Saudi Arabian Monetary Agency, or SAMA, as the central bank is known, offered about 15 billion riyals ($4 billion), two of the people said, asking not to be identified as the information is ...

  The Trans-Pacific Partnership, a multilateral trade deal involving the U.S. and many countries on the Pacific Rim, has become something of a bugaboo for those both on the left and the right. Republican nominee Donald Trump has denounced TPP, declaring it a sop to China, even though China isn’t included in the agreement. Bernie Sanders is against it as ...

  To say that Venezuela is in acute crisis would be an understatement. It is staring at a massive collapse that is getting harder to prevent by the day. The country’s economy is in a free-fall amid the financial and political commotion. In 2016, its GDP will contract 10% and inflation accelerate to around 700%. Its gold reserves are shrinking ...

  Joseph Bosco In its courageous and comprehensive decision on the South China Sea, the arbitration tribunal appointed by the Permanent Court of Arbitration has rendered an invaluable service to the region and the international community. It has established an international law overlay to China’s sweeping territorial and maritime claims and thereby provided important guidance for all six competing claimants. ...

  For the past 70 years, Japan has been a crucible of experimentation in economic policy. During its go-go years, Tokyo’s unusual practices to spur rapid growth became a model for much of the rest of Asia, while its unconventional attempts to revive its post-bubble economy have helped economists understand what should and could be done to recover from financial ...

  The Aug. 5 opening of the 2016 Summer Olympics is still a week away, but Rio de Janeiro mayor Eduardo Paes is already playing catch-up. A squad of blue overall-clad plumbers, electricians and custodians descended on the Athletes Village this week for emergency repairs. It turns out the brand new, $900 million complex of apartment buildings — “the best ...

When President Barack Obama is trying to persuade Americans not to do something, he has a go-to line: “That’s not who we are.” Whether the issue involves discrimination, immigration, torture, criminal violence or health care, he invokes the nation’s very identity. And he likes to follow it by adding, “We are better than that.” In this way, throughout his political ...

  Cecilia Tortajada and Udisha Saklani On July 30 and 31, 2012, India witnessed its worst power failure in a decade. Eight states were in complete darkness as the northern grid collapsed. The second day, July 31, saw another acute power failure that affected more than 600 million people in 20 states across the country. Essential services were interrupted for ...

  Dubai / WAM Dubai’s active initiatives towards encouraging 3D printing are set to make it the world’s leading destination in this additive manufacturing technology, a leading 3D printing expert has said. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, recently launched the ‘Dubai 3D Printing Strategy’, a unique global initiative ...