DAVOS, Switzerland – Saudi Arabia will host a special World Economic Forum (WEF) meeting in April, economy minister Faisal Alibrahim said on Thursday, as it aims to boost the global profile of the kingdom and its capital Riyadh. The meeting, scheduled to take place from April 28-29, will focus on global collaboration, growth and energy, […]
The Kenyan government has extended its full support to Kenyans looking to find work overseas. The administration has pledged to secure important bilateral agreements to safeguard its nationals in foreign countries. This is all part of the government’s initiative to curb the alarming rate of unemployment in the country. As seen in the Kenyan news […]
South Africa’s small and medium-sized enterprises (SMMEs) form the cornerstone of the economy, accounting for around 40% of the nation’s gross domestic product (GDP) and employing about half of the workforce. Despite their crucial role in SA’s economy, these businesses are currently facing a growing ‘funding gap’. This term ‘funding gap’ refers to SMMEs not […]
The International Monetary Fund (IMF) executive board is due to meet on Friday to consider the first review of Ghana’s $3 billion rescue loan programme, a spokesperson said by email on Monday. Board sign off of the review would unlock a $600 million disbursement. Such approvals are usually seen as a formality once a meeting […]
Around three quarters of the effects of tighter monetary policy have already fed through to the U.S. economy, according to an analysis by the International Monetary Fund. “We have to recognize that there has been a lot of resilience in the economy despite the rate hikes that we have seen … our estimate is that […]
The exchange rate for a dollar to naira on the physical black market on Monday was N1, 280/US$ as against N1,260 against the greenback last week. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency gained some grounds against the greenback as it closed at N838.95 to the dollar, compared to last Friday’s […]
A survey of global chief economists by the World Economic Forum (WED) today predicted the global economy to see a year of downturn and uncertainty, facing headwinds from tough financial conditions, geopolitical tensions, and the rise of artificial intelligence. According to the latest Chief Economists Outlook released today, more than half (56 percent) of the […]
Bank Muscat, Oman’s biggest lender by assets, will set up a strategic investment fund to invest upto 150 million riyals ($390 million) in various GCC banks over the next few years to diversify earnings. The lender said in a statement on the Muscat Stock Exchange on Monday that it has won the in-principle approval from […]
The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires as agency leadership tries to promote the latest work done to modernize the agency with Inflation Reduction Act funding. Which Republicans are threatening to end. , Federal tax collector leadership spoke with reporters Thursday to outline how the agency […]
Digital innovation in banking is no longer a choice. It is now a requirement that is essential to business continuity. The encouraging news is that South Africa can teach the world a thing or two about digital banking, evidenced by the fact that the country’s financial-services landscape ranks second on Oliver Wyman’s digital-banking index, which […]