Goldman Sachs said gold prices could surge well above its $4,000 per troy ounce baseline by mid-2026, should private investors diversify more heavily into the metal. Spot gold prices hit a record high of $3,578.50 per ounce on Wednesday on expectations of a U.S. Federal Reserve interest rate cut later this month, while lingering global […]
BlackRock BLK and Blackstone BX are leading U.S.-based asset management firms. While BLK focuses on public market investments and exchange-traded funds (ETFs), BX specializes in alternative assets like private equity and real estate. The asset management industry is currently benefiting from investors’ shift toward higher-yielding investment vehicles like equity funds, alternative assets and long-term bond funds. Also, deregulation is […]
Oxford Economics Africa reports that the Democratic Republic of the Congo will receive the largest share at $21 billion, targeted for mining, hydrocarbons, agriculture, and 12 other sectors. Botswana’s package stretches across infrastructure, diamond processing, tourism, cybersecurity, and defence. Burundi’s deal focuses on energy, farming, and infrastructure. Africa has long exported raw resources with little domestic […]
With a capacity of 650,000 barrels per day, the refinery has quickly made its mark in West African region, particularly in Nigeria’s petroleum industry, which for decades has struggled with the absence of a fully functional domestic refinery. By producing significant volumes of diesel, gasoil, and jet fuel, the facility is not only meeting local demand […]
The move follows affirmative determinations by the U.S. Department of Commerce that evidence exists of unfair pricing and government subsidies in these nations’ steel industries. Corrosion-resistant steel, the department noted, is widely used in automobiles, appliances, and construction. The determinations cover $2.9 billion (R51.1 billion) in imports from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, […]
China Evergrande Group, for the most part, lived true to its name — it was once the country’s premier developer, its listing in Hong Kong in 2009 was the biggest by a Chinese private developer, and it had the largest pile of debt in the property sector globally. That attribute stayed with the company till […]
Prime Minister Shigeru Ishiba spoke on the importance of co-creating innovative solutions for challenges facing Africa and the world, in his opening remarks at the ninth Tokyo International Conference on African Development (TICAD 9) on Wednesday in Yokohama. “Japan believes in the future of Africa and will promote investment in Africa,” Ishiba said. The Japanese […]
Oil prices fell on Friday as concerning economic data from the U.S. and China, the world’s two largest oil users, increased worries about fuel demand while investors also await the summit between U.S. President Donald Trump and Russian leader Vladimir Putin. Brent crude futures fell 39 cents, or 0.58%, to $66.45 a barrel by 0750 […]
The Saudi Private Investment Fund has written down $8 billion from the value of the Saudi state’s megaprojects over the past year as they struggle to move forward amid budget overruns combined with weaker oil prices. According to the report that cited an unnamed source, Saudi Arabia’s sovereign wealth fund’s investments in projects, including the smart […]
Angola retrieved $200 million in May from collateral it had posted earlier this year to JPMorgan, following a rebound in the price of its sovereign bonds, the country’s finance ministry said. The repayment came after a sharp sell-off in April triggered a margin call under a $1 billion total return swap agreement between Angola and […]