South Korea’s LG Energy Solution (373220.KS) is aiming to raise about $1 billion from the sale of two, dollar-denominated green bonds, according to two sources with direct knowledge of the matter. The sources could not be identified as the information was not yet made public. “No specifics have been decided regarding the scale,” an LG Energy Solution […]
Shares of 3M Company (MMM) rose nearly 5% on Monday after the Wall Street Journal reported the company was close to a settlement on claims from hundreds of thousands of veterans over faulty earplugs. 3M would pay $5.5 billion in the settlement, according the Journal. Citi managing director Andrew Kaplowitz believes the $5.5 billion number is lower […]
(Bloomberg) — China’s economy was meant to drive a third of global economic growth this year, so its dramatic slowdown in recent months is sounding alarm bells across the world. Policymakers are bracing for a hit to their economies as China’s imports of everything from construction materials to electronics slide. Caterpillar Inc. says Chinese demand […]
The Gross Domestic Product of BRICS is now 36 percent of global GDP and 47 percent of the world population. This follows the announcement of the six nations to the BRICS bloc. “We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of […]
KEY POINTS The BRICS economic coalition of emerging markets has decided to extend membership invitations to six nations. The BRICS alliance — which presently reunites Brazil, Russia, India, China and South Africa — is set to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join, Ramaphosa said in a speech […]
The investments made by Savings and Credit Cooperative Organisations in unit trust funds, reasonable interest rates registered by savers and strong product uptake among low-income earners are attributed to notable unit trust account balances held by Ugandan savers compared to its peers in Kenya and Tanzania Unit trust products are organised, collective savings channels that […]
Aug 22 (Reuters) – Shares of several U.S. banks fell on Tuesday, the day after ratings agency S&P Global followed Moody’s in cutting its credit ratings on some regional lenders with high commercial real estate (CRE) exposure. S&P’s action will make borrowing more costly for a banking sector aiming to recover from a crisis earlier […]
The Second China-Africa Economic and Trade Expo (CAETE) in Changsha, capital city of central China’s Hunan Province, is poised to maximize cooperation opportunities between China and Africa. At the expo, South African Ambassador to China Siyabonga Cwele gave an interview to ChinAfrica, highlighting the importance of economic and trade cooperation between China and South Africa. ChinAfrica: Currently, the […]
The expansion of the club of five is set to top the agenda when the BRICS nations convene in the South African city of Johannesburg on Tuesday. More than a handful of hopefuls — 23 in fact, including Saudi Arabia, Indonesia, Iran, Argentina and Ethiopia — are interested in joining the bloc. South Africa’s top representative to BRICS, Anil Sooklal, […]
India just ditched the dollar and used its own currency to buy a million barrels of oil from the UAE
India bought 1 million barrels of oil from the United Arab Emirates using its own currency instead of US dollars. The Indian Oil Corp settled a payment in rupees with the Abu Dhabi National Oil Company. Nations including India, Russia, and other BRICS members have been pushing to de-dollarize. The dedollarization trend moved one step […]