The Africa Development Bank (AfDB) has announced the launch of the Special Agro-Industrial Processing Zones Alliance (SAPZ), a groundbreaking project aimed at mobilizing at least $2 billion in financing and investment commitments from its members and partners over the next…
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China’s exports to Russia held up well in October, China’s customs data showed on Tuesday, bucking the trend of weakening demand for Chinese manufactured goods elsewhere. Chinese shipments to Russia rose 17% to $8.69 billion in October from a year…
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Within the field of macroeconomics, the total government balance is a vital indicator of a country’s fiscal well-being and public financial management. The term “overall government balance” typically refers to the difference between government revenue and government expenditure, taking into…
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Nigeria’s naira NGN=D1 is on the brink of breaching 1,000 per dollar after falling to an official record low of 999 last week, Refinitiv data showed, tracing its weakness on the unofficial market where it trades freely. President Bola Tinubu…
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Saudi Arabia’s non-oil sector witnessed strong growth in October, resulting in a significant rise in employment levels, a business survey revealed on Sunday. A robust increase in new businesses has led to a nine-year high in job numbers. The Riyad…
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MENA debt issuances nearly tripled in value year-on-year (YoY) during the first nine months of 2023 to $61.1 billion, according to data from the London Stock Exchange Group’s (LSEG) Deals Intelligence. However, this was below the value recorded for the…
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The Israel-Hamas war could have a significant impact on economic growth and inflation in the euro zone unless energy price pressures remain contained, according to Goldman Sachs . The ongoing hostilities could affect European economies via lower regional trade, tighter…
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The sudden freefall of the Nigerian Naira versus the US dollar has caused widespread shock and alarm in the banking and investment industries. Nigeria’s naira hit a record low of 1,200 per dollar on the black market, online platform abokiFX…
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The U.S. Treasury Department said on Monday it expects to borrow $776 billion in the fourth quarter, $76 billion less than its forecast in July, citing increased revenue estimates, bringing some relief to bond markets rattled for months by a…
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European stocks rose as bond yields cooled after the US slowed the pace of its planned sales of longer-term securities, while investors awaited the Federal Reserve’s interest rate decision later Wednesday. Orsted A/S slumped after a $4 billion writedown. The…
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