Feb 27 (Reuters) – Two of Sweden’s largest property companies on Tuesday announced multibillion-crown writedowns in their 2023 results, as they grappled with a European property rout that both voiced hope could soon be over. For years, property in Europe and particularly Germany and Sweden boomed as interest rates fell, turbocharging demand. A sharp rise […]
Barcelona-based Nebius, a company empowering digital nomads and marketplaces with payments, crypto and card solutions, has secured €250M in institutional funding for its crypto-backed lending program. Nebius offers a secure service with a low interest rate structure to corporate and consumer clients. The initiative allows individuals and businesses to leverage crypto assets for real-world financial […]
The purchasing power of Kenyans has seen a significant decline owing to some economic challenges. In the past year, citizens of the East African country have been faced with rising commodity prices, while their incomes stagnated. As a result, Kenyans could scarcely purchase goods the same way they may have been accustomed to. A report […]
Egypt is seeking to raise the private sector’s contribution to the state’s total investments to 65%, Prime Minister Mostafa Madbouly stated. Madbouly noted that the country is keen on encouraging the private sector to promote its participation in different development and services projects. This came during a meeting held by the prime minister to follow […]
Gold prices opened lower on Tuesday morning after rising sharply on Monday. The Dubai Jewellery Group data showed 24K trading at Dh246.0 per gram at the opening of the markets on Tuesday as compared to last night’s close of Dh246.75 per gram. Among the other variants of the yellow metal, 22K was selling at Dh227.75 […]
Russian banks’ record mortgage lending growth in 2023 shows signs of overheating in the sector, Alexander Danilov, director of the central bank’s banking regulation and analytics department, said on Tuesday. Bank’s mortgage loans portfolio grew by a record 34.5% last year, the central bank said in a report, and the sector posted record profits of […]
The Islamic Development Bank (IsDB), the Lives and Livelihoods Fund (LLF) and the Government of Benin launched a US$ 20 million initiative titled ‘Integrated Agriculture Value Chain Development Project (PDI-CVA)’. The project was launched at a ceremony in the Préfecture of Collines in Dassa-Zoumè. Over five years, the PDI-CVA Project will work with local farming […]
Chinese Vice Premier He Lifeng on Monday called for greater support for high-quality listed companies in an effort to help stabilise the capital market, the Xinhua News Agency reported. He made the remarks at a national video conference on promoting the high-quality development of listed companies. The push for premium listed firms will help high-level […]
The UAE’s largest lender is expecting oil prices to average $80 per barrel in 2024 in a “cautiously optimistic” forecast following record crude demand from India and China in 2023 and strong recovery in global air travel. First Abu Dhabi Bank (FAB) said in its newly launched ‘Global Investment Outlook 2024’ that geopolitical risks are […]
The Kenyan Shilling, one of Africa’s worst-performing currencies in 2023, recently experienced a gain of 0.73 percent against the US dollar. The currency has not had this sort of gain in over 3 years, as the Shilling went from 161.36 on Monday to 160.19. This marks an interesting milestone given the currency’s seemingly persistent depreciation. […]