CHINA has reaffirmed its unwavering support for Zimbabwe’s economic growth by injecting multi-million-dollar investments, particularly in the mining and industrial sectors, further strengthening bilateral relations between the two nations. Zimbabwe has witnessed a surge in foreign investment with Chinese firms playing a pivotal role, particularly in mining, which remains the backbone of the economy. The […]
Saudi Arabia’s economic diversification efforts and the robust expansion of the non-oil sector, in line with its Vision 2030, are set to drive significant economic growth in 2025, according to a recent analysis. First Abu Dhabi Bank, in its latest report, predicts that Saudi Arabia’s non-energy gross domestic product will grow by 4.4 percent in […]
More than 44,000 new jobs are expected in Saudi Arabia after the Kingdom issued 1,346 industry licenses in 2024, an official report has revealed. The Ministry of Industry and Mineral Resources announced that the permits have also helped attract investments worth over SR50 billion ($13.3 billion), driving economic growth and diversification. The ministry added that […]
Korean stocks tumbled over 3 percent Friday, dragged down by a possible tariff war threat by U.S. President Donald Trump and a slump in artificial intelligence (AI) chip giant Nvidia. The local currency fell sharply to a three-week low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 88.97 points, or […]
Mexico’s state oil giant, Pemex, has reported a staggering 190.5 billion-peso ($9.1 billion) loss for Q4 2024, marking a sharp reversal from its profit a year ago. The company attributes this financial bloodbath to soaring operational costs, asset devaluations, and currency exchange losses—painting an increasingly grim picture for the world’s most indebted oil company. Crude […]
Meg Energy Corp. says it earned $106 million in its fourth quarter, up from $103 million a year earlier. The Calgary-based company says revenues totalled $1.15 billion, down from $1.44 billion during the same quarter last year. Diluted earnings per share were 40 cents, up from 37 cents a year earlier. Bitumen production averaged about […]
Eni SpA (NYSE: E) on Thursday reported a 46% plunge in its adjusted net profit for the fourth quarter of 2024, missing analyst forecasts as lower oil and gas prices and refining margins more than offset higher upstream production. Eni booked an adjusted net profit of $935 million (892 million euros) for the fourth quarter, below the […]
Arab stock markets recorded a positive performance in January for the second consecutive month, mirroring the upward trajectory of global exchanges. According to the latest Arab Monetary Fund report, the gains came after markets worldwide rebounded from the declines observed in December, driven by improving investor sentiment, monetary policy adjustments, and strong corporate earnings in […]
Canadian lender TD Bank appointed Guidepost Solutions as the compliance monitor for its anti-money laundering program after U.S. regulators hit the lender with $3 billion in penalties last year. Guidepost Solutions will monitor TD’s business in the United States as part of a multi-year program to fix TD’s anti-money laundering problems and strengthen its controls. […]
Chinese IT services company Unisplendour is planning to raise US$1 billion from a stock listing in Hong Kong this year, according to a source familiar with the matter. The company joins a growing number of mainland-listed companies making their way to Hong Kong to raise funds amid improved stock market sentiment and regulatory support. The […]