HBX Group has announced the launch of a specialized investment fund aimed at fostering innovation within the travel sector. This new initiative, backed by €50 million in initial capital, follows the success of HBX Group’s TravelTech Lab, which was established in 2023 to support startups and scaleups in the travel technology industry. Under the leadership […]
Brazil’s tax authority is set to increase oversight of foreign cryptocurrency exchanges operating within the country. This week, the tax revenue service will publish an ordinance requiring these exchanges to provide detailed information about their operations and compliance with local regulations. Representations of cryptocurrencies plunging into water, as captured by Reuters/Dado Ruvic, symbolize the volatile […]
Nvidia Corporation has overtaken Microsoft to become the world’s most valuable company, highlighting a significant shift in the technology sector driven by the demand for artificial intelligence (AI). Nvidia’s shares rose 3.5% to $135.58, pushing its market capitalization to $3.335 trillion. This milestone was reached just days after Nvidia surpassed Apple. In comparison, Microsoft’s market […]
Goldman Sachs has raised its year-end forecast for the S&P 500 Index to 5,600, up from its previous estimate of 5,200. This adjustment comes as major U.S. technology giants, including Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms, collectively experienced a substantial 45% increase in their stock prices. These companies now represent a quarter of the […]
British International Investment (BII) has finalized the sale of its 10.1% stake in I&M Group PLC (I&M) to AfricInvest, a leading Pan-African Asset Management platform. This transaction marks the conclusion of a successful seven-year partnership between BII, the UK’s development finance institution, and I&M, a prominent banking group in Eastern Africa. Founded in 1974 and […]
Saudi Arabia’s Public Investment Fund (PIF) has announced plans to invest $15 billion in Brazil, focusing on green hydrogen, infrastructure, and renewable energy. This significant move was revealed by Brazil’s Energy Minister Alexandre Silveira during an event in Rio de Janeiro. Minister Silveira highlighted the strategic nature of this investment, which was discussed during recent […]
At the Ukraine Recovery Conference 2024, European Commission President Ursula von der Leyen announced the signing of €1.4 billion in new guarantee and grant agreements aimed at supporting Ukraine’s recovery and reconstruction. This initiative, part of the Ukraine Facility’s Investment Framework, emphasizes the EU’s ongoing commitment to support Ukraine amid the conflict with Russia. Strategic […]
Southwest Airlines, a stalwart of the skies, finds itself under scrutiny as activist shareholder Elliott Investment Management makes a significant move, acquiring a $1.9 billion stake in the company. With this investment comes a pointed critique of the airline’s performance, particularly targeting its CEO and the need for strategic evolution. Elliott’s concerns stem from Southwest’s […]
Saudi oil giant Aramco has retained its position at the top of Forbes Middle East’s Top 100 list, highlighting the dominance of Gulf Cooperation Council (GCC) firms in the region’s corporate landscape. With assets totaling $660.8 billion and a market value of $1.9 trillion, Aramco stands as a pillar of the Middle East’s economic strength. […]
In a notable development for the semiconductor industry, Vanguard International Semiconductor Corporation, backed by Taiwan Semiconductor Manufacturing Co. (TSMC), and Dutch chipmaker NXP Semiconductors have announced plans to establish a $7.8 billion wafer manufacturing plant in Singapore. This joint venture, named VisionPower Semiconductor Manufacturing Company (VSMC), will bolster the global semiconductor supply chain and create […]
In a decisive step aimed at boosting fiscal discipline and stimulating economic activity, Kenya’s Pending Bills Verification Committee has approved...
In a dramatic turn that has stirred debates among economists and policymakers alike, President Donald Trump has floated a provocative...
South Africa’s official unemployment rate edged down slightly in the fourth quarter of 2024, falling to 31.9% from 32.1% in...
In a landmark operation that has captured the attention of investors and market watchers alike, the Central Bank of Kenya...