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 […]
On Thursday, President William Ruto of Kenya announced the government’s intention to privatize 35 state-owned companies. His administration is also considering the privatization of another 100 firms following the recent enactment of a law aimed at reducing bureaucratic processes. According to Reuters, the last instance of state privatization in Kenya occurred in 2008 when the […]
Ethiopia is preparing to introduce its local currency securities exchange platform next year, and as part of that preparation, it plans to loosen its prohibitions on foreign involvement in its domestic financial markets. Over the past two years, the nation has allowed foreign companies to participate in its banking and telecommunications sectors, enabling Kenyan banks […]
The UK Supreme Court decided on Wednesday that an asylum agreement with Rwanda was illegal, noting the likelihood that refugees transported to Kigali may be repatriated to the countries from which they fled, subjecting them to even more harsh treatment. The five members of the Supreme Court ruled unanimously on Wednesday that the Court of […]
The Indian wings of the three tech titans—Apple, Google, and Amazon—are currently under the scrutiny of the Income Tax Department. The probe, initiated in 2021, focuses on possible tax evasion committed by these multinational corporations. The crux of the investigation lies in their transfer pricing practices, which have come under the department’s lens. Transfer pricing—the […]
The Nigerian government has revealed that Nigerians will be required to spend between N300,000 and N600,000 for the conversion of their petrol vehicles to Compressed Natural Gas (CNG). This was revealed by the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi in an interview with Daily Trust. […]
Britain’s sluggish economy failed to grow in the July-to-September period but at least managed to avoid the start of a recession, figures from the Office for National Statistics showed on Friday. The 0% change in gross domestic product in the third quarter compared with a forecast for a 0.1% fall in a Reuters poll of […]
From 1 December, Discovery Bank clients using physical credit cards – i.e., plastic – will earn a so-called “base rate” of just 1 Discovery Mile for every R100 spent, regardless of the type of account they hold or their Vitality Money status. The changes were announced by the bank in the past week. It says […]