Commerce Secretary Gina Raimondo on Wednesday said she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior. Raimondo’s comments add to pressure on Chinese leader Xi Jinping’s government, which is trying to […]
European stock markets are expected to open higher on Wednesday, with sentiment boosted by the strong close on Wall Street overnight ahead of the release of inflation reports from Germany and Spain. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.2% and the […]
$400m deal signed between China Development Bank and African Export-Import Bank to help African SMEs
A multimillion-dollar development-focused agreement has been signed in Cairo, Egypt, between the China Development Bank and the African Export-Import Bank (Afreximbank) to provide Afreximbank with a $400-million term loan facility to support the financing of small and medium-sized enterprises (SMEs) across Africa. The agreement, signed by Tan Jiong, president of the CDB, and Professor Benedict […]
The US Federal Reserve chairman has said the central bank will continue to raise interest rates “if appropriate” as inflation remains “too high”. Jerome Powell told an annual gathering of central bankers that the pace of price rises had fallen from a peak. However, it remains above the Fed’s 2% target. In a speech to […]
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 […]