The Angolan government is negotiating a loan of up to US$1 billion (€950 million) with Spanish bank Bilbao Vizcaya Argentaria (BBVA), revealed financial news agency Bloomberg, citing people involved in the process. The loan, says the agency, will be used to finance public investments in various areas that will encourage the diversification of the economy […]
As global competition intensifies for the resources powering modern technology, Ukraine’s vast mineral wealth has become a critical bargaining chip in deals concerning its security. United States President Donald Trump has framed mineral agreements as a way for Ukraine to repay military aid it has received, turning access to these resources into a focal point of negotiations. […]
New sovereign wealth fund Danantara Indonesia will focus on large-scale projects generating good returns as it prioritises sectors championed by the government to increase economic growth and create jobs, its chief investment officer told Reuters. Danantara, which was launched this week and is slated to eventually manage more than $900 billion worth of assets including government stakes […]
The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa. As part of this commitment, the EIB today confirmed it will invest $52.48 million in the Fund, which is managed […]
The Qatar Investment Authority is leveraging its over-$500 billion in assets to attract venture capital firms to the hydrocarbon-rich state. The sovereign wealth fund’s $1-billion fund of funds program — which invests in both international and regional VC funds — is designed to bolster investments in areas such as technology and health care, as Qatar […]
CHINA has reaffirmed its unwavering support for Zimbabwe’s economic growth by injecting multi-million-dollar investments, particularly in the mining and industrial sectors, further strengthening bilateral relations between the two nations. Zimbabwe has witnessed a surge in foreign investment with Chinese firms playing a pivotal role, particularly in mining, which remains the backbone of the economy. The […]
Saudi Arabia’s economic diversification efforts and the robust expansion of the non-oil sector, in line with its Vision 2030, are set to drive significant economic growth in 2025, according to a recent analysis. First Abu Dhabi Bank, in its latest report, predicts that Saudi Arabia’s non-energy gross domestic product will grow by 4.4 percent in […]
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 […]
Korean stocks tumbled over 3 percent Friday, dragged down by a possible tariff war threat by U.S. President Donald Trump and a slump in artificial intelligence (AI) chip giant Nvidia. The local currency fell sharply to a three-week low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 88.97 points, or […]
Mexico’s state oil giant, Pemex, has reported a staggering 190.5 billion-peso ($9.1 billion) loss for Q4 2024, marking a sharp reversal from its profit a year ago. The company attributes this financial bloodbath to soaring operational costs, asset devaluations, and currency exchange losses—painting an increasingly grim picture for the world’s most indebted oil company. Crude […]