A legendary investor whose expertise lies in major stock crashes says the market is heading toward a burst bubble, akin to the crises seen in 1929 and 2000. British billionaire Jeremy Grantham is cofounder of investment management company GMO, which reportedly handles a near $65 billion in assets. Grantham, estimated to be worth $1 billion himself, previously […]
Plug and Play’s commitment to maintaining high standards will not waver: CEO CAIRO: Silicon Valley-based investor Plug and Play Tech Center, renowned for its early investments in successful firms such as Dropbox and PayPal, is seeking to raise $100 million to support Saudi startups, Bloomberg reported. The venture capital firm is in discussions with Jada, a […]
There’s been a swath of bullish new predictions from Wall Street strategists and economists since first-quarter U.S. GDP growth was revised up last week, while multiple small business surveys have revealed that the backbone of the American economy remains robust. A “soft landing”—where inflation cools without the need for a job-killing recession—is now not only possible but likely, according to many experts. Even […]
Italian Prime Minister Giorgia Meloni on Wednesday criticised the European Central Bank’s hiking of interest rates to fight inflation, warning “the cure risks proving more damaging than the disease”. “The ECB’s simplistic recipe of raising interest rates does not appear to many to be the right way forward,” she said in a speech to parliament […]
Apple stock was up 1.2% when Wall Street opened Friday morning, valuing the company at $3.01 trillion, according to Bloomberg. To cement that historic milestone for the day, the technology giant will need to close at or above $190.73, according to Barron’s. Shares in Apple have risen roughly 47% so far this year, a sign of […]
Parts of the US bond yield curve have inverted more deeply after the Federal Reserve signaled further interest-rate hikes, suggesting that investors are fretting about a recession. The widely-tracked economic indicator is a graphical representation of the spread between long- and short-term US Treasury yields. When short-term debt securities offer higher yields than long-dated ones, the yield […]
Beijing is on course to achieve its 5 per cent economic growth target for 2023, says Chinese Premier Li Qiang at the World Economic Forum meeting. TIANJIN: Chinese Premier Li Qiang slammed efforts in the West to “de-risk” the global economy as a “false proposition” on Tuesday (Jun 27), hitting back against US and EU policy aimed at […]
A global summit seeking to overhaul the international financial system wraps up Friday after taking small steps towards easing the debt burden of developing nations weighed down by climate and economic crises. While host country France pitched the conference as a consensus-building exercise, leaders are under pressure to produce clear outcomes from the two-day meeting […]
China’s economy is floundering – and that could be bad news for Wall Street. From a slowdown in industrial production to plunging import and export levels, investors are assessing warning signs that Beijing is struggling to restart growth after it ended its hard-line zero-COVID restrictions late last year. The People’s Bank of China has responded by […]
Ecobank Group, and The Pan African Payment and Settlement System (PAPSS) have signed a Memorandum of Understanding (MoU) to facilitate settlement of cross-border transactions of the Group, including the transactions of all their subsidiaries, through PAPSS. The MoU was signed during the opening ceremony of the 30th African Export-Import Bank (Afreximbank) Annual Meeting held in Ghana. Commenting on the signing, […]