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Finance

China’s economic model is ‘washed up on the beach,’ says veteran investor David Roche

KEY POINTS Despite a remarkable rally in stock markets so far this year, concerns have been growing over the potential ripple effect of a prolonged slowdown in the world’s second-largest economy. David Roche, president and global strategist at Independent Strategy, […]

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August 31, 2023
US stocks fall as Dow heads for worst week since March amid China fears, rising bond yields

US stocks tumbled Friday, with the Dow on track for its worst week since March. The S&P 500 and Nasdaq Composite are each headed for their third straight losing week. The 10-year Treasury yield soared Thursday to its highest mark […]

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August 30, 2023
Euro zone yields rise after data, markets raise bets on September ECB rate hike

Euro zone government bond yields rose on Wednesday as the first inflation data from German states fuelled expectations the European Central Bank (ECB) tightening cycle won’t be over soon. In North Rhine Westphalia (NRW), Germany’s most populous state, consumer prices […]

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August 30, 2023
BRICS leaders meet in Johannesburg

Enlargement of the five-member bloc is expected to be a key talking point, with China’s Xi Jinping a major proponent. Also being discussed is global food security. Trade, agriculture, clean energy among BRICS day one talking points DW correspondent Dianne […]

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August 25, 2023
Africa chance to dominate global tech supply chain is here, UNCTAD says

The recent disruptions in the global supply chains has presented a unique opportunity for African countries to dominate the supply of finished high technology commodities, strengthening their economic resilience in the face of shocks. This is according to the United […]

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August 22, 2023
Brics summit: Why the US dollar will remain dominant despite bloc’s push to de-throne it

Talk of de-dollarisation has gathered pace, as members of the Brics economic group meet this week in South Africa for a summit, but the US currency is unlikely to lose its crown as the world’s international reserve currency. Members Brazil, […]

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August 22, 2023
Floating of naira: Falana takes CBN to court, describes action as illegal

Human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, has taken legal action against the Central Bank of Nigeria (CBN) at the Federal High Court over its decision to float the naira, describing it as illegal. This was […]

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August 18, 2023
BRICS bank raises R1.5 billion in first South Africa bond auction

The New Development Bank, a financial institution created by the BRICS bloc of emerging markets, raised R1.5 billion at its first-ever South African bond auction. Shanghai-based NDB, established by Brazil, Russia, India, China, and South Africa, received more than R2.5 […]

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August 17, 2023
A BRICS currency replacing the dollar is a ‘ridiculous’ idea, says the top economist who named the group—unless China and India become allies

In their push to dethrone the U.S. dollar as the world’s largest reserve currency, the BRICS nations—or Brazil, Russia, India, China, and South Africa—have been talking up the idea of a common currency for years. But Jim O’Neill, the veteran economist who […]

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August 16, 2023
Stretching Seaports to Turn Egypt Into A Logistic Hub

CAIRO – 11 August 2023: Egypt possesses 54 seaports, including 18 commercial ones, lying on the shores of the Mediterranean and the Red Sea. Those have been awaiting expansion and upgrade to serve Egypt’s purpose to become a logistic hub […]

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August 11, 2023
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