Accelerating New Retail Strategy to Capture Opportunities in China’s Retail Sector Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) today announced it will invest approximately USD3.6 billion in respect of Sun Art Retail Group Limited (HKEX: 6808, “Sun Art”), a leading hypermarket and supermarket operator...
December 14, 2020 was another historic milestone in the lifecycle of Abbey with the signing ceremony of Rights Issue of N3,692,307,692. The event had the Managing Director/CEO of Abbey Mortgage Bank Plc (Issuer), Mr. Madu Hamman, the Managing Director of Kairos Capital Limited (Issuing House), Mr. Sam Chidoka and other...
An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia’s Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the Indonesia’s parliament in February, aims to boost bilateral trade that...
CSC, a global business, legal, tax, and digital brand services, today announced that it has acquired FIRSTCORP PTE. LTD (FIRSTCORP) and its affiliates, a Singapore-based service provider of company secretary and administration services to corporations and alternative asset managers. FIRSTCORP offers company formation, corporate secretarial, and domiciliation services. It specializes...
China’s Tencent Holdings will be under pressure to address concerns on the impact of a U.S. ban on WeChat-related transactions and outline its plans to mitigate any fallout as it reports second-quarter results on Wednesday. The ban, to take effect in September and the latest salvo in a worsening U.S.-China...
A  legal practitioner, Nathaniel Olabode, has advised traders to embrace insurance policies in order to alleviate their losses in case of fire outbreaks and other natural disasters. Olabode, who gave the advice while speaking with the News Agency of Nigeria, (NAN) in Usi-Ekiti, said the rate of fire outbreaks and...
Regtech Africa, an emergent global digital tech media platform with a niche focus on regulatory technology innovations in Africa and around the world has announced a strategic partnership with Total RegTech Solutions, a CRG firm with proven track records and cutting edge solutions to improve business productivity. With the partnership...
Moody’s Analytics has won the Climate Risk category in the 2021 Chartis RiskTech100®, the first year this category has appeared. It’s one of 10 awards for Moody’s Analytics to go along with the #2 overall ranking. The Moody’s Analytics offering helps customers first identify whether they have exposure to climate...
75% takeover of cement terminal at Thilafushi Island to increase market presence in the Indian Ocean country Oman’s largest cement manufacturer, Raysut Cement Company (RCC), said it has closed the deal of acquiring 75 per cent of LafargeHolcim’s cement terminal at Thilafushi Island in Maldives, and a  new joint venture...
Earlier this year, the World Bank forecasted that in the wake of the Covid-19 economic crisis, remittance flows to Sub Saharan Africa would fall by 23.1%. However today, WorldRemit, the global online money transfer service has reported that the demand for their remittance services to Zimbabwe continues to grow...
European stocks rose for a third straight session on Tuesday as automakers gained on strong China sales data, with hopes of a steady economic recovery from the coronavirus crisis boosting global sentiment. The pan-European STOXX 600 index rose 1.2 per cent by 0716 GMT, led again by a rally in...
Africa Finance Corporation (AFC), today announced that it has successfully secured a US$250 million tier-2 capital loan from U.S. International Development Finance Corporation (DFC). Formed in December 2019, DFC is the United States Government’s development bank established with a lending capacity of up to US$60 billion to provide financing for...
The nation’s bourse resumed trading for the week on a bullish trend with the All-Share Index crossing the 32,000 mark following interests in blue chips. Specifically, the All-Share Index rose by 1,226.88 or 3.96 per cent to close at 32,243.05 compared with 31,016.17 achieved on Friday. Accordingly, month-to-date and year-to-date gain...
Gunmen attacked the Pakistan Stock Exchange building in the city of Karachi on Monday, killing two guards and a policeman before security forces killed all four of the attackers, police said. Separatist insurgents from Balochistan province - the Baloch Liberation Army (BLA) - claimed responsibility in a post on Twitter...
Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would continue to rein in costs in preparation for a longer period of volatility in oil prices. Oil producers halted the drilling of new wells and drastically cut their budgets following a collapse in crude oil...
With the world and the Asia-Pacific region undergoing profound changes, China has called for joint efforts to build an Asia-Pacific community with a shared future featuring openness, inclusiveness, innovation-driven growth, greater connectivity, and mutually beneficial cooperation. China highly values the role of the Asia-Pacific Economic Cooperation (APEC) and will continue...
As the Nigerian economy contends with the effect of the COVID-19 pandemic, the manufacturing Purchasing Managers’ Index (PMI) has further contracted for the fifth consecutive time at 46.9 index points. Manufacturing PMI for August sood at 46.5 index points. This is contained in the Central bank of Nigeria (CBN) PMI survey report...