Author: dailyguardian.ae

HSBC is selling its business in Argentina and booking a $1 billion loss on the deal, the bank said on Tuesday, as it continues to shrink its once globe-spanning empire to focus on Asia. HSBC is selling the business, which covers banking, asset management and insurance, to Argentina’s fifth largest bank Grupo Financiero Galicia for $550 million, the British bank said. HSBC CEO Noel Quinn has sought to simplify the sprawling lender to improve performance by exiting several markets in which it has under-performed, including France and Canada. The sale also fits with the bank’s Asia pivot strategy as it…

Paris St Germain are still seeking their first Champions League trophy but they need ambition rather than pressure in the first leg of their quarterfinal against Barcelona, manager Luis Enrique said on Tuesday. PSG last reached the semifinal stage in 2021, and with the Ligue 1 title more or less wrapped up along with a place in the Coupe de France final, focus now turns to the competition which the club wants to win more than any other. “I hope that our ambition overcomes the pressure,” Luis Enrique told a press conference before Wednesday’s game. “We aren’t feeling pressure at…

The Rivian R2 has finally been announced, and it could end up being the go-to EV for drivers who want a decently affordable electric car with a rugged look and feel. But when it finally launches to the public, it won’t be the only option in its price range — the Ford Mustang Mach-E could be one of its main competitors. The Mustang Mach-E may not be quite as rugged-feeling as the Rivian R2, but it does have a lot going for it — like an increasingly low price, sleek design, and comfortable interior. Is one of these EVs better…

The pandemic brought the world to a standstill and threw new challenges for humanity to deal with. Wading through the challenging days of 2020, where there was uncertainty in everybody’s mind, things weren’t any different at the under-construction BAPS Hindu Mandir. However, a four-page handwritten letter by BAPS Swaminarayan Sanstha’s current spiritual leader His Holiness Mahant Swami Maharaj at the peak of the pandemic, gave hope, vision, and direction to inspire his team to create what is today the first traditional stone temple in the Middle East. Stay up to date with the latest news. Follow KT on WhatsApp Channels.…

Saudi Arabia, the UAE, and other Gulf countries have declared that Eid Al Fitr will be celebrated on April 10. The date of the Eid celebration depends on the sighting of the Shawwal crescent moon. In India, the crescent was not spotted in Delhi, Hyderabad, and Lucknow. Hence, Eid will be celebrated on April 11. However, a few places will mark the festival on Wednesday, April 10 as the crescent moon of Shawwal was sighted on April 9. So far, Kerala, Ladakh and Jammu and Kashmir have confirmed the sighting. Stay up to date with the latest news. Follow KT…

Oil may have room to run up to $100 a barrel, especially if Opec+ stays put and rolls over the cuts further into the second half of the year when demand is expected to be very strong, crude market pundits said. They said that the market is witnessing one of the fastest year-on-year growth rates it has ever seen in the last 20 years of history. Driven by geopolitical tensions, economic trends, and increased financial market participation, the market is experiencing significant volatility. Strong demand, particularly expected in the second half of the year, is underpinning the price surge, while…

The unbeaten Rajasthan Royals will play Gujarat Titans in their fifth match of the Indian Premier League 2024 campaign at the Sawai Mansingh Stadium in Jaipur on Wednesday. The Royals beat Royal Challengers Bengaluru by six wickets in their last encounter in Jaipur last week. Jos Buttler marked his return to form, with a spectacular hundred in his 100th IPL game. Buttler made an unbeaten 100 off 58 balls, his sixth century in the IPL, to eclipse Virat Kohli’s century for RCB during a run-chase of 184 runs. The Royals’ skipper Sanju Samson looked in majestic touch in the middle…

Motorola announced an upcoming event on April 16, and from the looks of its teaser, it seems new Edge series smartphones are on the horizon. The company has already introduced the Edge 50 Pro in the Indian market, but two more members of the series have yet to be launched officially, even though leaks have already spoiled the surprise. A few weeks ago, Evan Blass (@evleaks) shared rumored product renders of the flagship Motorola Edge 50 Ultra. Carrying forward the legacy of the Edge series, the upcoming phone embraces a curved screen, metallic sides, and a leather finish on the…

The Shawwal crescent was sighted on Tuesday in the UAE, igniting a nationwide festive atmosphere for Eid Al Fitr celebrations. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE, and Ruler of Dubai, extended his Eid greetings to the people of the UAE, as well as to the Arab world and Islamic nations. In his message on social media, Sheikh Mohammed ‘congratulated the people of the Emirates and all Arab and Islamic peoples on Eid’. He wrote: “May God shower His blessings upon us all and grant us the opportunity to celebrate this joyous occasion with goodness…

Buoyed by falling inflation, the European Central Bank is expected to keep borrowing costs on hold one last time Thursday while laying the ground for a first interest rate cut in June. The Frankfurt-based institution has left its key rates unchanged since October 2023, following an unprecedented streak of hikes to tame red-hot inflation. ECB president Christine Lagarde said after last month’s meeting that governing council members were not “sufficiently confident” yet on inflation to consider loosening the reins. The case for rate reductions has strengthened since then, with eurozone inflation slowing more than expected in March to 2.4 per…