Serrari Group

Italy’s Cabinet Approves Revised Economic Outlook for 2024 Growth

Italy’s economic landscape is witnessing a recalibration as the cabinet approves a revised Economic and Financial Document (DEF), signaling adjustments to growth forecasts for 2024 and beyond. The DEF, a cornerstone document outlining Italy’s economic objectives over the next three years, has been officially endorsed, reflecting the government’s response to evolving economic conditions. The revised […]

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Government Launches Labour Activation Programmes to Combat Unemployment in Gauteng

Addressing the pressing issue of unemployment in Gauteng, the Department of Employment and Labour, under the leadership of Minister Thulas Nxesi, announced the launch of labor activation programmes aimed at generating job opportunities across various sectors in the region.  Partnering with private businesses, Skills Education and Training Authorities (SETAs), and Non-Governmental Organizations (NGOs), the government […]

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Central Bank of Kenya Expects Import Rebound Amid Exchange Rate Stability

The Central Bank of Kenya (CBK) forecasts a resurgence in imports for the current year, driven by a stabilized exchange rate and improved dollar availability compared to the previous year. This projection comes as the apex bank anticipates an 11 percent growth in imports, following a decline observed last year due to challenges in accessing […]

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Global Food Prices Experience First Increase in 7 Months: FAO Data Reveals

Global food prices saw a notable uptick, marking the first increase since July, according to the latest report from the United Nations’ Food and Agricultural Organization (FAO). The FAO’s overall Food Price Index climbed by 1.1 percent during the month, reaching 118.3 points. However, on an annual basis, the index remained 7.7 percent lower. Notably, […]

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Nigeria Central Bank Implements Ban on Foreign Currency Collateral for Naira Loans

Nigeria’s central bank has announced a significant policy change aimed at safeguarding the stability of its banking sector. In a circular issued on Monday, the bank declared that commercial lenders are no longer permitted to accept foreign currency-denominated collateral for naira loans. This directive comes in response to observed risks associated with the practice, which […]

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Interest Rates on Treasury Bills Drop After Two-Year High

In a notable development, interest rates on all three Treasury bills have experienced a decline, marking the first such occurrence in over two years. During the most recent Treasury bill auction, the weighted average interest rates of accepted bids saw a slight downturn. Specifically, rates for the 91-day, 182-day, and 364-day papers fell to 16.7243 […]

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Zimbabwe Introduces ZiG: A Gold-Backed Currency for Economic Stability

Zimbabwe has launched a new gold-backed currency, ZiG, in an effort to stabilize its volatile economy. The move aims to address the ongoing economic challenges that have plagued the nation for over two decades. Central bank governor John Mushayavanhu unveiled ZiG, emphasizing its structured design and market-determined exchange rate. The decision comes as a response […]

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CBK Raises Sh45 Billion from Reopened Bonds

The Central Bank of Kenya (CBK) successfully raised Sh45.8 billion from the recent reopening of five and 10-year bonds, surpassing the target of Sh25 billion. Investor interest was robust, with total bids reaching Sh47.7 billion in the auction that concluded on Thursday. The five-year paper attracted bids of Sh35.5 billion, while the 10-year bond secured […]

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Oman’s Debt Market Contracts to $44 Billion, Fitch Reports

Oman’s debt capital market experienced a 7% year-on-year decrease, reaching $44 billion in 2023, according to Fitch Ratings. This contraction was primarily due to the government’s proactive debt repayment strategy, utilizing surplus funds generated by elevated oil prices. Despite the overall downturn, there was a notable shift in market dynamics. The proportion of sukuk, Islamic […]

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