Angola has strategically pivoted in its diamond sector, replacing Russian giant Alrosa with a subsidiary of Oman’s sovereign wealth fund in the Catoca diamond mining company. This development follows mounting international pressure on Angola to end its association with Alrosa, a partnership that was increasingly untenable following Western sanctions on the Russian firm due to […]

The Ministry of Investment in Jordan has announced an ambitious plan to attract JD1.25 billion ($1.76 billion) in investments in 2025, reflecting a 19% increase from the projected JD1.05 billion by the end of 2024. These objectives are outlined in the draft General Budget Law for the coming year. Central to these efforts is the […]

In a significant move to curb fraudulent activities, the U.S. Securities and Exchange Commission (SEC) has expanded its Public Alert: Unregistered Soliciting Entities (PAUSE) list, adding 20 new firms accused of deceptive practices, impersonations, and misrepresentation. The additions include 14 entities accused of misleading tactics, two firms impersonating legitimate companies, and four posing as fake […]

Saudi Arabia has approved its state budget for 2025, projecting a fiscal deficit of 101 billion riyals ($26.88 billion), equivalent to approximately 2.3% of its gross domestic product (GDP). Despite the deficit, the kingdom remains committed to massive spending on its Vision 2030 gigaprojects aimed at diversifying its economy away from oil reliance. Key Highlights […]

The Adani Group, one of India’s largest conglomerates, faces mounting challenges as the fallout from U.S. bribery allegations deepens. Ratings agency Fitch has placed several of the group’s bonds on a negative watch, and Sri Lanka has announced a review of the group’s projects in the country. The developments come after U.S. prosecutors charged billionaire […]

CapitaLand Investment Limited (CLI), a global leader in real asset management, has unveiled plans to significantly accelerate its geographical diversification, focusing on key markets across Asia-Pacific, Europe, and the United States. The company aims to double its funds under management (FUM) to S$200 billion and more than double its operating earnings to over S$1 billion […]

US chip making giant Nvidia has shattered Wall Street’s expectations once again, reporting record-breaking quarterly sales of $35.1 billion, driven by insatiable demand for its AI hardware. The stellar performance, which also yielded a profit of $19 billion, underscores Nvidia’s dominant position in the artificial intelligence (AI) revolution sweeping industries worldwide. “The age of AI […]

Adani Group Plunges Amid Allegations of Bribery and Fraud The Adani Group, one of India’s largest conglomerates, witnessed a dramatic $28 billion erosion in market value during Thursday’s morning trade following serious charges from U.S. prosecutors. The allegations, centered around bribery and fraud schemes, have led to a ripple effect across the group’s 10 listed […]

BlackRock, the global investment management giant, has announced the successful conversion of the BlackRock International Dividend Fund into an active ETF, unveiling the BlackRock International Dividend ETF (NYSE: BIDD). This landmark move represents BlackRock’s inaugural foray into converting an active mutual fund into an active ETF, underscoring the increasing demand among U.S. investors for the […]

Emirates NBD, the second-largest lender in the UAE, has successfully issued a $500 million sustainability-linked loan (SLL) bond as part of its commitment to aligning financial growth with sustainable development goals. The five-year bond, with initial price thoughts (IPTs) set at Treasuries +125 basis points (bps) area, reflects growing investor appetite for ESG-compliant financial instruments. […]