The governor of the Irish central bank has warned the government against over-stimulating the economy in its annual budget in October, saying the country was at risk of being in the “wrong place,” in terms of spending. Gabriel Makhlouf was speaking two weeks after the government published its pre-budget plans, in which it said it […]
A Kazakh appellate court has sided with the international oil majors operating the Kashagan oilfield, overturning a massive $4.2 billion environmental fine over sulfur storage practices. The North Caspian Operating Company (NCOC)—a consortium that includes Eni, Shell, ExxonMobil, and TotalEnergies—hailed the decision as confirmation that their sulfur handling meets both Kazakh legal requirements and global industry […]
The Russian-owned Ozon Holdings Ltd has been granted permission by the Cypriot Department of Registrar of Companies and Intellectual Property to relocate to Russia, the company has reported. Ozon’s shareholders approved the decision to relocate to the Kaliningrad region’s special administrative district at the end of December this year. There, it will continue operating as IPJSC Ozon. […]
Germany has approved a €500 million ($582 million) loan to support South Africa’s transition away from fossil fuels, deepening its financial commitment to the country’s decarbonization efforts under the Just Energy Transition Partnership (JETP). The 13-year facility, provided through the German state-owned development bank KfW and implemented by the German Society for International Cooperation (GIZ), […]
Ogun State has announced plans to partner with Arise Integrated Industrial Platform (IIP) to develop a $2 billion garment manufacturing hub, expected to be one of the largest in Africa. The project, aimed at reviving Nigeria’s textile industry, will be located within a Special Agro-Processing Zone near the Gateway International Agro-Cargo Airport in Iperu. The […]
The Navigating the Future of Wealth Report 2024, released by global migration platform Multipolitan, has predicted a major shift in global wealth as millennials inherit trillions from older generations and embrace new investment strategies. The report has highlighted how this generational wealth transfer will impact investment trends and wealth management. The report estimates that by 2045, millennials will inherit an estimated US$84 trillion […]
Euro zone companies are facing a slowing economy and increased competition from China as U.S. tariffs dent confidence and force rivals to seek new markets, a European Central Bank poll showed on Friday. The ECB left interest rates unchanged on Thursday and offered a modestly upbeat assessment of the euro zone economy, raising doubts among […]
Angola’s oil-backed debt to China is expected to decline to between $7.5 billion and $8.0 billion by year-end, according to the head of the country’s debt management office. “All debt collateralised by oil revenues is concentrated in agreements with China, which have been gradually reduced in recent years,” said Dorivaldo Teixeira, Director of the Debt […]
Brazil will establish a tax advisory office in China, the Brazilian Finance Ministry said, highlighting the strategic importance of the move as the two nations deepen their ties. The decision underscores Brazil’s growing focus on its relationship with China, its largest trading partner, as tariffs introduced by U.S. President Donald Trump escalate global tensions. The move coincides […]
Alhaji Aliko Dangote, President of the Dangote Group, made the revelation on Tuesday at the Global Commodity Insights Conference on West African Refined Fuel Markets, which was organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with S&P Global Insights. The Nigerian billionaire noted that the refinery exported up to a […]