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 […]
In a significant milestone for the cryptocurrency market, Bitcoin surged to its highest price since December 2021 on Monday, surpassing the $50,000 price level for the first time in over two years. This remarkable move triggered a rally not only for cryptocurrencies but also for related stocks, with notable gains seen in Coinbase stock and […]
In a remarkable rally, Bitcoin surged to close the week, breaching the $47,000 mark for the first time in almost two years. On Friday, the premier cryptocurrency witnessed a gain of over 4%, reaching $47,307.00, according to data from Coin Metrics, marking a level unseen since March 2022. Alongside, Ether also saw an uptick, rising […]
Mauritius, foreign direct investment (FDI) inflows surged by 27% to 23.1 billion rupees ($503 million) in the nine months leading up to September compared to the previous year. This notable rise was primarily propelled by increased property sales, reflecting the nation’s appeal to international investors. Real estate transactions dominated the investment landscape, constituting a substantial […]
In a notable development, the Central Bank of Kenya (CBK) recently conducted its Weekly Treasury Bills auction, witnessing a significant redemption of KSh 48.5 billion out of KSh 51.1 billion in bids received. The CBK accepted KSh 48.8 billion at this auction, marking a substantial movement in the market. This surge in redemptions, according to […]
Kenya’s Central Bank of Kenya (CBK) has lowered its benchmark interest rate by 50 basis points, reducing it to 10.75%...
U.S. President Donald Trump has once again escalated his trade war rhetoric, this time setting his sights on the European...
The World Bank has revised its economic growth forecast for South Africa, increasing its 2025 GDP projection from 1.6% to...
The Central Bank of Kenya (CBK) has rejected a new bond trading platform proposed by commercial banks, known as the...