Japan’s Nikkei 225 index witnessed a historic surge on Thursday, breaching the coveted 39,000 milestone, driven by a combination of robust corporate earnings and investor-friendly reforms. The index’s remarkable ascent, rising nearly 2% to reach 39,029, marks a significant milestone, surpassing its previous peak achieved in 1989. This surge is part of a broader trend […]
In a strategic move to invigorate Egypt’s burgeoning start-up ecosystem, Sawari Ventures, a prominent venture capital firm headquartered in Cairo, has announced the launch of a $150 million fund dedicated to fostering innovation and growth within the country. Led by CEO and Co-founder Hani Al Sanbati, Sawari Ventures aims to allocate its resources across key […]
Vestas, a leading sustainable energy solutions provider, has announced the sale of its stake in the Lake Turkana Wind Power project (LTWP) in Kenya. The move aligns with Vestas’ strategy of developing wind projects without long-term ownership. LTWP, operational since 2018, supplies about 14% of Kenya’s electricity demand through its 365-turbine complex, making it Africa’s […]
As Nvidia prepares to unveil its fourth-quarter earnings, the semiconductor market witnesses a cautious stance, reflected in the decline of key players like Taiwan Semiconductor Manufacturing Company (TSMC) and ASML. TSMC, known as the world’s top producer of advanced processors, experienced a modest drop of over 1% in its shares. With clientele including industry giants […]
Kingdom Holding Company (KHC), a prominent Saudi conglomerate, has finalized the sale of its esteemed residential complex, Kingdom City, for SAR 900 million ($240 million). The transaction, completed with a real estate fund associated with Alawwal Investment, underscores KHC’s strategic realignment in the Saudi real estate sector. Nestled in Riyadh’s Al Rabie neighborhood, Kingdom City […]
Moody’s, the renowned credit rating agency, has unveiled its latest assessments for nine banking sectors across Africa, showcasing a mixed bag of prospects with four sectors marked with a negative outlook, three with a stable outlook, and two with a positive outlook. The evaluations provided by Moody’s take into account various local factors including operating […]
In a testament to the growing demand for bonds, Kenya’s recent Eurobond offering has attracted an impressive response, gathering over $5 billion in subscriptions. According to reports from Bloomberg, Kenya is set to issue $1.5 billion worth of seven-year bonds at a rate of 10.375%, marking the highest coupon payment made by an African issuer […]
Holiday rental giant Airbnb has announced a bold move to launch a $6 billion share buyback program, signaling its intent to enter a new phase of growth and diversification beyond its core business. The company views 2024 as an “inflection point” to reinvent itself, having spent three years refining its holiday rentals and experiences business. […]
The trading floor witnessed a somber atmosphere today as Access Holdings’ share price plummeted by 6.26% following the untimely demise of Herbert Wigwe, leaving shareholders mourning the loss of the esteemed leader. After a bearish week that saw Access Holdings experiencing a 2.25% decline, the stock’s share price took another hit, shedding N1.55 to close […]
In a move signaling a significant shift in the banking landscape, commercial banks have raised the returns offered to cash-rich firms and high-net-worth depositors to double-digit levels, reaching a new 24-year high record. Data released by the Central Bank of Kenya (CBK) indicates that the average commercial bank deposit rate, which represents the yield offered […]
When the United States and Israel launched coordinated strikes on Iran on February 28, 2026, the immediate global conversation centred...
The United States has dramatically escalated its global trade offensive, launching a sweeping set of Section 301 investigations into 60...
Nigeria's Federal Government has taken a decisive step toward rerouting the country's energy future through one of its most abundant...
In two trading days, the Nation Media Group (NMG) share price did something it had not managed in years: it...
