Serrari Group

UBS Reaches $1.4 Billion Settlement in Alleged Mortgage-Backed Security Fraud Case

Switzerland’s banking giant, UBS, has taken a significant step to resolve a longstanding legal battle, agreeing to pay a substantial $1.4 billion settlement in connection with alleged misrepresentation of bonds backed by mortgages. The bonds, sold in the years leading up to the 2008 financial crisis, have been at the center of a comprehensive investigation […]

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Mastercard Acquires Minority Stake in MTN Group’s Fintech Venture MoMo

In a significant move highlighting the growing convergence of technology and finance, MTN Group, the largest mobile network operator in Africa, has announced a game-changing financial development. The telecommunications giant has unveiled its half-year financial performance, which includes a groundbreaking partnership with global payment behemoth Mastercard. This strategic collaboration sees Mastercard acquiring a minority stake […]

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Nairobi Coffee Exchange Set to Resume Trading Amidst Government Reforms

The Nairobi Coffee Exchange (NCE) is gearing up to reopen its trading operations after a prolonged halt that began on July 6. The suspension, attributed to the government’s decision to overhaul coffee brokerage and licenses, has stirred confusion within the industry, impacting trade dynamics. Key industry players have pointed to the government’s reforms as the […]

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Far-Right Libertarian’s Victory in Primary Election Rattles Argentina’s Economy and Markets

Buenos Aires, August 14, 2023 – Argentina’s currency and stock markets experienced mounting pressure as an unexpected turn of events unfolded in the country’s primary election. A far-right libertarian candidate, advocating for the abolition of the central bank and the implementation of a dollarized economy, emerged victorious, sending shockwaves through financial markets. Javier Milei, an […]

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Founders Factory Africa Secures $114 Million Investment to Propel Tech Startup Ecosystem Across Africa

Founders Factory Africa, the pan-African powerhouse specializing in early-stage tech venture investments, has secured a substantial boost of $114 million in funding. This fresh injection of capital aims to fuel the expansion of its pioneering hybrid investment approach, spanning across the African continent. The move comes as a significant development in the realm of African […]

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CBK  Offers Competitive Treasury Bills Rates to Bidders in Recent Auction

In a move that holds implications for the financial landscape, the Central Bank of the country (CBK) has presented enticing rates of return to bidders in its latest auction. The auction, which featured Treasury Bills with durations of 91 days, 182 days, and 364 days, concluded with successful bidders securing rates of 13.1104%, 13.4381%, and […]

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China Unveils New Guidelines to Boost Foreign Investment

The State Council of China has recently released a comprehensive set of guidelines aimed at enhancing the country’s foreign investment landscape and attracting greater overseas capital. These guidelines, comprising 24 distinct points, were introduced on Sunday as part of China’s ongoing efforts to optimize its investment environment and stimulate economic growth. According to the official […]

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Egypt: IDA Unveils Fifth Phase of Electronic Industrial Climate Action Investment Map

In a strategic move to bolster industrial development and attract investment, the Industrial Development Authority (IDA) has proudly announced the launch of the fifth phase of its electronic map for industrial investment. Encompassing an expansive area of 1.7 million square meters distributed across 14 governorates, this milestone underscores IDA’s commitment to fostering economic growth and […]

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Paypal Launches Stablecoin , Paypal USD

PayPal is taking a significant step into the realm of cryptocurrencies by introducing a stablecoin, marking a notable move among major financial institutions. This initiative occurs amidst heightened regulatory scrutiny of digital assets by US authorities. The company, headquartered in San Jose, announced the introduction of PayPal USD, a stablecoin pegged to the US dollar. […]

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