Credit Suisse was once one of the world’s leading banks, with a reputation for innovation and excellence. But in March 2023, it shocked the financial world by announcing that it had run out of cash and was being taken over by its rival UBS. How did this happen? And what can other banks learn from its demise? Credit Suisse’s collapse is a cautionary tale for all banks that want to survive and thrive in the post-pandemic era. They need to be agile, customer-centric, and responsible if they want to avoid becoming obsolete or irrelevant. Continue reading The Credit Suisse Collapse | What Went Wrong & What Are the Lessons?
Silicon Valley Bank (SVB) was a well-capitalized institution seeking to raise some funds. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank’s 40-year run. While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with US$209 billion in total assets at the end of last year. Faced with higher interest rates, loss of IPOs, and a funding drought, SVB’s clients began pulling money out of the bank. Lenders somewhat similar to SVB are in an unfortunate situation. A failure to protect deposits over $250,000 could cause a loss of faith in other mid-sized banks. Analysts said SVB’s collapse is unlikely to set off the kind of domino effect that gripped the banking industry during the financial crisis. Continue reading Silicon Valley Bank | How Does a Bank Collapse in 48 Hours?
Long before Rishi Sunak, the present British Prime Minister stormed into the British political landscape, about 138 years ago, a shipbuilding district in Southwest London cheered “Vote for Ghosh” for an Indian man in the UK Parliament election. But who is this Ghosh? Ghosh was a pioneer in his field. He was born in 1849 in the Bengali hamlet of Krishnanagar and grew up to … Continue reading Lalmohan Ghosh | The First Indian to Stand for Election to the British Parliament
The US-Italian team made the find in the ruins of ancient Lagash, northeast of the modern city of Nasiriyah in Iraq, which was already known to have been one of the first urban centers of the Sumerian civilization of ancient Iraq. Team finds primitive fridge, oven, benches for guests, around 150 serving bowls, evidence of eating, drinking, and even beer recipe inscribed on cuneiform tablet. A detailed analysis would need to be carried out on the samples taken during the excavations. Continue reading Iraq Dig Uncovers 5,000-Year-Old Pub Restaurant
Megalithic monuments are among the earliest and most permanent of archaeological structures, and so many of them were used, or more properly, have been used and reused for thousands of years. Their original intent is likely lost to the ages, but they may have had multiple functions as they were used by different cultural groups over the centuries and millennia. Continue reading Prehistoric Megalithic Observatory near Hazaribagh (Jharkhand)
Isko Cave is a natural cave located in Hazaribagh, Jharkhand, India. It is considered to be a site of archaeological significance, with evidence of human habitation dating back to the Stone Age. These Isko caves and rock art needs protection and maintenance. The ASI and the state government must take immediate steps to protect this heritage. This will promote tourism and bolster the local economy too. Continue reading Isko Caves | A Journey into the Past
The New Year has to start with some sweets for round-the-year sweet experiences. Halawet el-jibn is made from rolls of soft, sweet semolina and cheese dough that gets stuffed with clotted cream and crowned with pistachios. A drizzle of syrup puts the final seal of perfection. The origin of halawat el-jibn dish is not clear. Some recipes for this dessert give credit to Homs in Syria as its birthplace. Continue reading Halawet El-Jibn | A Delectable Arabic Dessert
Somen Debnath has been travelling across the world on a bicycle to spread awareness about HIV/AIDS. Starting from his home at Basanti Village in South 24 Paragana district of West Bengal at the age of 21 on 27 May 2004, Debnath has been on the road and travelled over 185,400 km and visited 170 countries. During his journey, he was in Baghdad, Iraq for a few days in 2013. I then met him and interacted with him during his stay in Baghdad. Continue reading Somen Debnath | Cycling around the world for AIDS awareness
When something is memorable, it means that it is easily remembered, particularly if it is something special or out of the ordinary. These are experiences which involve anticipation, emotional involvement, and altered perceptions of time – think about how “time flies when you’re having fun,” and they involve a process of doing and undergoing. I recollected one such memorable experience, which I still remember. Continue reading Epic Moment | Successful Change Management
Guru Nanak, the founder of Sikhism, spent three months in Baghdad with his associates Bhai Mardana and Bhai Bala on his return to India from Mecca. The holy site is in the backyard of Baghdad railway station surrounded by graveyards. War, insurgents or looters have wiped any trace of a historical footnote that had preserved the memory of the Sikh Guru’s 16th-century journey through Arabia and his stay in Baghdad. There is no trace of anything Sikh on the site now. Continue reading In Search of Guru Nanak’s Shrine in Baghdad