through IBN , Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech” and/or the “Company”), a technology company whose custom-developed Fr8App is an industry-leading freight-matching platform powered by AI and machine-learning as a real-time portal for B2B Provides. USMCA, cross-border shipping and domestic shipping within the region, today announces the conversion of convertible debt into equity by investors. […]
The Central Bank of the UAE (CBUAE) has amended the Finance Companies Regulation following global shifts in consumer financial trends and the growing popularity of “Buy-Now, Pay-Later” credit products and services. The revised regulation entails that short-term credit can be carried out by entities operating as agents of licensed banks or finance companies, following the […]
US debt will become unsustainable and trigger default in about 20 years, if it stays on current path
The US has roughly 20 years to change course on the size of its debt, or else a default of some form will be unavoidable, a Penn Wharton Budget Model determined in October. Analysts looked at the $26.3 trillion of US debt held by the public, which excludes money the federal government owes itself in […]
Japan and South Korea markets started the last trading week of 2023 on a positive note with the Nikkei 225 all set to emerge as the region’s top performer this year, but China stocks continued to slide. Australia, New Zealand and Hong Kong markets were closed for Boxing Day holiday. Japan’s Nikkei 225 rose 0.16% […]
Britain’s economy might be in a recession, according to data that showed it shrank between July and September, shortly after finance minister Jeremy Hunt took the rare step of suggesting the Bank of England might cut interest rates to boost growth. Gross domestic product (GDP) contracted by 0.1% in the third quarter, the Office for […]
Muscat – Oman and India established a joint investment fund during His Majesty Sultan Haitham bin Tarik’s state visit to India on Saturday. Abdul Salam bin Muhammad al Murshidi, Chairman of Oman Investment Authority (OIA), stated that the third such fund is a result of the success of two earlier joint funds with India, which […]
GCR Ratings (“GCR”) has affirmed MyCredit Investments Limited’s (trading as ‘FairMoney’) Nigerian national scale long-term and short-term issuer ratings of BBB(NG) and A3(NG) respectively. The rating agency explained that FairMoney was rated on the basis of its strong cash flow generation and liquidity coverage, specifically noting that “The assigned ratings are supported by FairMoney’s strong […]
Social commerce platform Maka raises $2.65M to simplify buying fashion and beauty products in Africa
Maka, an African fashion and beauty e-commerce platform, has raised a $2.65 million pre-seed round led by Pan-African venture capital firms 4DX Ventures and Janngo Capital. Other investors include Palm Drive Capital, angel investor Jonathan Shipman, founder of EVP and Twitch founding member, and executives from delivery platform Wolt. In 2021, co-founder and CEO Diana […]
Global oil demand growth will slow in 2024 as overall economic activity cools, Dubai-based lender Emirates NBD said in a new report. The absence of a strong demand story like the return of China from Covid-19 will limit upside risk to demand, the forecast on Monday said. “Unlike in 2023 when China’s reopening helped to […]
The UAE is one of the world’s top ten destinations for residential property investment in 2024, according to the inaugural Housearch Investment Index. The index ranks 50 markets worldwide according to rental returns, stability and security. It provides a view of where the investment opportunities in the coming year look promising. The UAE came in […]