The South Korean government said on Monday it will launch a tender offer to sell off a 29.3% stake, valued at around 4.7 trillion won ($3.6 billion), in Seoul-based game giant NXC Corp. from Dec. 18 to 19. As NXC Corp.’s ex-chairman Kim Jung-ju unexpectedly died in February of last year, Kim’s two daughters came […]
The World Economic Forum, with support from the Government of the United Arab Emirates, along with more than 20 corporate and research partners in the food sector, launched today the First Movers Coalition for Food. The initiative uses the combined procurement power for sustainably produced farming products to speed up the adoption of sustainable farming, […]
South Africa’s National Treasury said on Friday it has issued state-owned rail and ports firm Transnet a support package of 47 billion rand ($2.5 billion) to help with a recovery plan, which includes meeting its immediate debt obligations. “The financial support package provided for the entity is a 47 billion rand guarantee facility against which […]
The African Development Bank granted Kenya a €73 million loan to aid Phase III of the Competitiveness and Economic Recovery Support Programme, with the funding extending through the fiscal year 2023-2024. This was revealed in a meeting of the board of directors of the African Development Bank in Abidjan on 29 November 2023. The loan […]
The strain placed on transportation networks is one of the most obvious and apparent impacts of high fuel prices. A higher petrol price raises operating expenses for consumers and companies alike, from everyday commutes to commodities transportation. As a result, prices for consumer goods and services typically rise, making it more difficult for residents to […]
South Korea is set to increase its visa quota for non-professional foreign workers to a record high and expand the sectors in which they can work to alleviate chronic labor shortages due to the low birthrate and aging in Asia’s fourth-largest economy. The government on Monday decided to raise the quota of E-9 visas for […]
Long delays in Zambia’s debt restructuring have hamstrung much needed investments, curtailed economic growth, weighed on local financial markets and added to living costs for its people, Finance Minister Situmbeko Musokotwane told Reuters. Zambia defaulted three years ago and is trying to rework its debt under the G20 Common Framework, a programme designed to ensure […]
Masahiro Moro told Fortune that consumers are still not sold on electric vehicles, with EVs making up just a fraction of the US market and cars piling up in dealerships as demand slows. “EV is absolutely important technology, and we are developing it. But [in the US] EVs last year [were] about 6% of the […]
Joining the bullish bets on the stock market next year is RBC Capital Markets, which expects the S&P 500 to hit a record high next year. In a note published Wednesday, RBC analysts forecasted the benchmark index to end 2024 at the 5,000 mark, a 10% gain from Tuesday’s close. “While the November rally (which […]
Malawi needs nearly $1 billion in debt relief from its creditors by 2027, according to the International Monetary Fund’s announcement on Wednesday. The country is faced with severe shortages of essential items such as medicine, fuel, and fertilizers, primarily attributed to chronic foreign currency shortages. The IMF report specifies that Malawi requires $887 million in […]