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…
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Some fear automated stock trading done by computers will fall victim to fake images generated with artificial intelligence (AI). But experts say algorithmic trading could actually be the key to market stability. On one Monday morning in May, US financial…
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Private equity deal value in Greater China slumped 53 per cent in 2022, shrinking its share in Asia-Pacific to a nine-year low while India’s cake expanded Funds are excited about values in Japan, succession planning at conglomerates like Hitachi, Olympus…
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Chinese lenders cut loan prime rates for the first time since August amid deepening struggle in housing market Alibaba Group slips from a two-month high; Daniel Zhang Yong to step down as chairman and CEO to oversee cloud-computing unit Hong…
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Adobe lifted its annual earnings outlook Thursday after reporting fiscal second-quarter results that beat Wall Street estimates. Adobe Systems Incorporated (NASDAQ: ADBE) shares gained 3% in after-hours trade following the report. The software maker reported adjusted EPS of $3.91 on revenue of…
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To feel wealthy, Americans say you need a net worth of at least $2.2 million on average, according to financial services company Charles Schwab’s annual Modern Wealth Survey. But even if you have that much in the bank, it might not…
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The Oracle founder has surpassed Bill Gates to rank fourth on the Bloomberg Billionaires Index as shares of the software firm have climbed 42% this year. The optimism around artificial intelligence boosted both Oracle Corp.’s stock — and founder Larry Ellison’s…
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Kenya’s crippling dollar shortage is driving away investors, turning a once-booming stock market into the worst in the world. Nairobi’s All-Share Index has plunged 19% this year, the steepest drop among the almost 100 global indexes tracked by Bloomberg. The…
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Korean businesses are growing less dependent on China for their exports, a study shows. Exports to the U.S. and Vietnam are increasing as Korean producers diversify their markets. According to the Korea International Trade Association on Monday, the dependence of…
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WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll…
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