Iran’s main stock index broke through the key 2 million point mark for the first time ever on Sunday, state media reported, amid warnings that the market is overheating. The Tehran Stock Exchange’s benchmark TEDPIX index gained 46,844 points in early trading, the official IRNA news agency said, up 2.4...
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...
Wall Street’s main indexes were set to open near-flat on Wednesday, as a record single-day spike in coronavirus cases in the country heightened fears of another lockdown and threatened to derail a nascent economic recovery. After notching up its biggest three-month gains since 1998 in the previous session, the S&P...
Lufthansa has drawn up a plan to prevent an insolvency should a virtual extraordinary shareholders’ meeting on Thursday fail to approve a $10 billion government bailout, a company source told Reuters on Wednesday. The German government could still get a 20% stake, as originally planned, in two steps without the...
In the early hours of Monday, August 3, 2020, news broke out that South African food retail company, Shoprite Shoprite Checkers (PTY) Limited and Retail Supermarkets announced that it would sell off its assets and leave the country for good. Everyone has enjoyed the services rendered in their huge outlets...
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...
An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth. Khan made the assertion in her presentation at the virtual 2020 Market Recap and 2021 Outlook hosted by the Nigerian Stock...
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 prevalence of the Coronavirus has made Africa the world’s next investment destination, due to the huge opportunities inherent in her economies. This revelation was made by the Group Chairman, United Bank for Africa (UBA) Plc, Tony O. Elumelu, while speaking to Africa’s leaders on Thursday, during a virtual session...
Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on a mezzanine lending opportunity in the United States, as part of its strategy focusing on investments into debt structures.  This investment utilizes the...
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...
~ Capital to be used for further global expansion after revenue quadrupled in 2020 ~ Sees participation from existing investors and multiple global investors Servify, the device lifecycle management platform that integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience today announced that they...
Venture capitalist and entrepreneur Vab Goel established the firm to help rapidly scale startups from concept to global relevance First five investments are driving the future of enterprise and digital health NTTVC today publicly announced its $500 million fund to help startups reach rapid global scale by harnessing the power of...
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...
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...
Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around $8.2 billion dollars at its current share price, the firm’s annual filing released on Friday showed. The divestment comes as Jack...
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...