ANAVA, a fund of funds supported by the World Bank, has pledged €4 million ($4.3 million) into Africa’s Janngo Capital Start-up Fund (JCSF), marking its inaugural investment in a pan-African venture. The investment aims to bolster approximately 25 early-stage tech startups, primarily in Francophone Africa, with a special focus on Tunisia. Janngo Capital’s mission is […]

The Saudi Investment Bank (SAIB) has received regulatory approval from the Capital Market Authority (CMA) for its proposed capital hike, marking a significant milestone for the institution. Under the approved plan, SAIB will issue one bonus share for every four owned shares, reflecting its commitment to strengthening its financial position. To implement the capital increase, […]

Goldman Sachs continues to express confidence in the commodities market for 2024, citing both cyclical and structural factors alongside geopolitical considerations. Year-to-date returns of 9% are expected to climb to 15% by year-end. The bank’s research indicates a projected 20% return in specific sectors, notably energy and industrial metals excluding nickel and zinc, within the […]

Schneider Electric, a global leader in energy management and automation, has teamed up with UAE-based Positive Zero to accelerate the transition to sustainable energy solutions in the region. This collaboration aims to leverage clean energy technologies to move towards a net-zero future. The partnership will focus on various initiatives to advance decarbonisation-as-service programs across the […]

In a strategic move to invigorate its startup ecosystem, Japan has announced the launch of an Angel Investor Visa program set to commence in the upcoming fiscal year, starting April. The initiative aims to attract foreign investors willing to commit to Japan’s economic development. Key Features of the Program: Extended Residency: Offering up to five […]

In 2023, the UAE banking sector witnessed significant growth, with total assets surging to a record Dh4.1 trillion, marking an 11% increase year-on-year. Despite global challenges, the Central Bank of the UAE’s (CBUAE) strategic initiatives have propelled the sector towards further expansion and recovery in 2024. During the last quarter of 2023, total assets saw […]

In a significant move, Borse Dubai Ltd. has announced intentions to divest a portion of its stake in Nasdaq Inc. through a secondary share offering, aiming to raise approximately $1.6 billion. The plan entails selling 26.96 million shares of Nasdaq’s common stock at $59 per share, which would reduce Borse Dubai’s stake to around 10.8%. […]

Pakistan’s central bank, in its latest policy meeting on Monday, opted to maintain its key interest rate at 22%, marking the sixth consecutive meeting without change. The decision reflects ongoing efforts to balance inflationary pressures with economic stability. Analysts had widely anticipated this decision, acknowledging the necessity of a cautious approach amidst lingering inflation risks. […]

Samsung Electronics has inked a significant deal with the US government, sealing a $6 billion investment aimed at expanding its semiconductor operations within the United States. This strategic move, set to be unveiled by the end of March, is part of the 2022 Chips and Science Act, designed to bolster America’s semiconductor industry. The Korean […]

Saudi Arabia is poised for a significant move in its financial strategy, as it looks to enlist top Wall Street banks for a secondary share sale in Aramco, according to a recent report by Bloomberg. In this endeavor, JPMorgan Chase & Co. is being considered as a key underwriter for the offering, alongside contenders Bank […]