Switzerland-based hotel firm Aman Group is looking to secure $2 billion in fresh capital to fund its global expansion efforts. The luxury hospitality brand, into which Gulf wealth funds and other investors ploughed approximately $1.3 billion over the last three years, intends to use the money to deliver more hotels across the Middle East and […]
Hong Kong is channelling funds into several dozen innovative companies to further bolster the city’s appeal as a hub for technology, banking and finance compared with regional competitors like Singapore, according to Financial Secretary Paul Chan Mo-po. The Hong Kong Investment Corp (HKIC), funded by the city’s reserves, has invested in nearly 100 start-ups involved […]
The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. For that, however, the industry needs the “right business conditions”. Offshore Energies UK said that local energy production was estimated at some 2 billion to 3 […]
Cassava Technologies, founded by Zimbabwean telecoms mogul Strive Masiyiwa, has partnered with Nvidia Corp. to establish Africa’s first artificial intelligence (AI) factory. According to a statement on Cassava’s website, the company will integrate Nvidia’s cutting-edge computing and AI software into its data centres in South Africa by June 2025, with further expansion planned for Egypt, […]
Bitcoin Surges to $82K Amid SEC’s ETF Delays and Lummis’ Bitcoin Reserve Plans. Bitcoin (BTC) bounced back to around $82,000 after dropping below $78,000 on Sunday, sparking a small rally in major tokens. Ether (ETH), BNB, XRP, and Cardano’s ADA rose by up to 3%, helping to recover some losses from the past week. Besides, […]
The Lagos State Government has finalized plans to establish an international financial centre in collaboration with EnterpriseNGR and other key stakeholders to drive capital market growth. This initiative aims to create an enabling environment for seamless trading, attract foreign investments, and enhance the competitiveness of Nigeria’s financial markets. Governor Babajide Sanwo-Olu described the Lagos International […]
The Russian Ministry of Industry and Trade, together with the Russian Export Centre (REC), is launching a program of state support for exports to Latin America and Africa. According to the program, Russian logistics companies engaged in maritime transportation will be able to receive subsidies from the federal budget and set preferential tariffs for their […]
In one of the biggest crackdowns on crypto fraud in India, the Central Bureau of Investigation (CBI) has raided 60 locations linked to the infamous GainBitcoin scam. The scheme, allegedly run by Amit Bhardwaj (deceased) and Ajay Bhardwaj, promised massive returns but left thousands of investors stranded. Now, authorities have seized cryptocurrencies worth $2.75 million […]
The federal government posted a budgetary deficit of $21.7 billion for the April-to-December period of its 2024-25 fiscal year. The result compared with a deficit of $23.6 billion for the same period a year earlier. According to the Finance Department’s monthly fiscal monitor, revenue for the nine-month period totalled $355.6 billion, up from nearly $318.1 […]
Alberta’s finances, tied for generations to the steep peaks and sharp valleys of oil and gas prices, are once again plunging deep into deficit, with no immediate relief in sight. Finance Minister Nate Horner introduced a budget Thursday that projects a $5.2-billion deficit this fiscal year on total spending of $79 billion. That represents an […]
