Dangote Cement’s revenue hit $2.4 billion in 2024, up 62% from $1.47 billion in 2023, driven by strong Nigerian and Pan-African sales. The company posted a $335.75 million profit despite increased expenses, though Pan-African operations reported a $16.3 million loss. Dangote Cement proposed a N30 ($0.02) per share dividend for 2024, maintaining payouts while total […]
Taiwanese chipmaker TSMC’s huge investment plan in the U.S. is adding more pressure on Samsung Electronics and SK hynix to follow suit, amid U.S. President Donald Trump’s increasing threats of tariffs and other economic disadvantages to its trade partners. TSMC made the decision to invest an additional $100 billion in the U.S. state of Arizona […]
Saudi energy giant Aramco reported a net profit of SR398.42 billion ($106.2 billion) in 2024, despite challenging market conditions, including lower prices for crude oil, refined products, and chemicals. In a press statement, the company revealed that its net profit declined by 12.39 percent from $121.3 billion in the previous year. Despite the earnings decline, […]
President Trump is heading to Capitol Hill tonight to deliver the first joint address to Congress of his second term. The president said Monday that Tuesday night “WILL BE BIG,” with the economy undoubtedly a major focus. But his speech also comes the same day he moves forward on what will be his signature economic move to […]
Kazakhstan has ramped up oil production, with the country’s crude oil and gas condensate–a type of light oil- output hitting a record high of 2.12 million barrels per day in February, good for a 13% increase from January. Excluding gas condensate, crude oil production increased 15.5% m-o-m to 1.83 million bpd. The OPEC+ member has been able […]
More than 44,000 new jobs are expected in Saudi Arabia after the Kingdom issued 1,346 industry licenses in 2024, an official report has revealed. The Ministry of Industry and Mineral Resources announced that the permits have also helped attract investments worth over SR50 billion ($13.3 billion), driving economic growth and diversification. The ministry added that […]
Hong Kong is a key market for the bank to achieve its goal of accumulating US$200 billion of net new money in the next four years Standard Chartered, one of Hong Kong’s three note-issuing banks, will continue to hire additional private bankers and open more new wealth management centres in the city as part of […]
China plans to start re-capitalizing three of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled last year to shore up the struggling economy. Authorities are looking to inject at least 400 billion yuan ($55 billion) of fresh capital into the first batch […]
Gold isn’t just a shiny metal—it’s a financial anchor, a technological asset, and a cultural symbol. As economies fluctuate and geopolitical tensions rise, gold remains a powerhouse in global trade. In 2023, several nations solidified their positions as dominant players in gold production, each with its own strategy, challenges, and ambitions. With an impressive 12,000 tons of gold produced in 2023, Australia isn’t […]
Investors on the Nigerian Stock Exchange (NGX) traded 1.848 billion shares worth N51.387 billion in 63,090 deals during the week. NGX, in its weekly report, made available in Lagos, said this n contrast to 2.001 billion shares valued at N49.486 billion that exchanged hands last week in 70,853 deals. Consequently, the value of transactions traded […]