Saudi Arabia’s telecommunications operator Etihad Etisalat (Mobily) has signed a Murabaha financing deal with the Saudi National Bank (SNB) for 4.8 billion riyals ($1.3 billion) . Mobily, an affiliate of the UAE’s Etisalat, will use SAR 3.685 billion to partly […]
Aramco, one of the world’s leading integrated energy and chemicals companies, has allocated an additional $4 billion to its global venture capital arm, Aramco Ventures. It will more than double the capital allotted to Aramco Ventures, increasing its total investment […]
Global economic prospects remain subdued and are fraught with uncertainty as more than half of chief economists expect the world economy to further weaken this year, a World Economic Forum report has said. With uncertainty clouding the near-term economic outlook, […]
The United States recently slapped a $222 million fine on the German software company SAP on the grounds of bribery. The company was alleged to have attempted to bribe government officials from several African countries. The bribes were said to […]
Global Infrastructure Partners (GIP), the world’s largest independent infrastructure manager with over $100 billion in AUM, and BlackRock, Inc. have jointly announced that the companies have entered into an agreement for BlackRock to acquire Global Infrastructure Partners for total consideration […]
Brent crude is expected to trade in a $80–90 barrel range in 2024 as supply may outstrip demand, UBS said in a report. “With OPEC+ spare capacity higher than before, ensuring that not-too-much supply is added will be a tough […]
The aggregate market capitalisation of the top 25 global banks grew by 11% to $3.61 trillion quarter-on-quarter (QoQ) during the fourth quarter of 2023, London-based GlobalData said in a report. The rise in market cap was due to the recovery […]
In December 2023, Ghana’s inflation dropped to 23.2%, a significant decline from the 26.4% reported in November 2023. The annual rate of food inflation eased to 28.7% and the non-food inflation rate slowed to 18.7%. Locally produced items experienced 23.8% […]
Tech in Africa has become an integral part of the continent’s economic makeup and by extension tech funding. Companies such as Flutterwave and MNT-Halan have gone on to make significant strides in Africa’s tech ecosystem, paving the way for more […]
Bahrain Steel, a producer and supplier of iron ore pellets, has announced the syndication of a $450 million sustainability-linked loan (SLL), spanning seven years. Proceeds from the loan will be directed towards capital expenditure for constructing the world’s largest stockyard […]
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