Zimbabwe State Workers Plan Strike To Demand Pay In Dollars, Due to Fall In Local Currency
Government employees in Zimbabwe will strike for two days,next week to press for their salaries to be paid in dollars.…
Day: July 22, 2022
Luxury Shoemaker Manolo Blahnik Wins 22-Year Trademark Battle In China
Manolo Blahnik, the shoe brand made famous by its celebrity fans and regular appearances in TV drama “Sex and the…
USAID to provide Kenya with $255mln for drought
U.S. development agency USAID will provide Kenya with $255 million in emergency and development assistance to tackle drought, administrator Samantha…
Gazprom Bond Payments Trickle Through To Some Creditors As Sanctions Rise
Payments due on international bonds issued by Russia’s Gazprom (GAZP.MM) have been transferred to some creditors, a source familiar with…
Facebook’s Growth Woes In India: Too Much Nudity, Not Enough Women
On Feb. 2, when Meta Platforms (META.O) reported Facebook’s first-ever quarterly drop in daily users; its finance chief identified higher…
Global Equity Funds See Biggest Weekly Outflow In Five Weeks
Global equity funds recorded their biggest weekly outflow in five weeks in the week to July 20, on investor caution…
Hungary Blocks EU Deal On 15% Minimum Corporate Tax
Hungary has blocked an EU directive that would impose a 15% minimum tax on multinational corporations, arguing the levy would deal…
Nigerian FG Estimates Fuel Subsidy Payment Of N6.72 Trillion For 2023
The Nigerian FG has announced that the subsidy on petrol is estimated at N6.72 trillion for 2023, which would be…
German Government Agrees On Bailout For Energy Supplier
The German government has agreed on a bailout for Uniper UN01, -8.24%, which reduced Russian gas imports have hit, the company said. Terms…
Fed To Stick To 75 Bps Hike In July; 40% Chance Of Recession
The U.S. Federal Reserve will opt for another 75 basis point rate hike rather than a larger move at its…
Nigeria Positioned To Leverage $65Bn Art Market – Patrons
A Director of Patrons, an art advisory and dealership firm, Keturah Ovi;, says Nigeria has the capacity to tap into…
Santander Drops Out Of Citibanamex Sale Process
Santander has dropped out of the process to buy Citigroup’s (C.N) Mexican retail bank; after having previously submitted a non-binding…
Nigeria Petrol Subsidy Seen Nearly 70% Higher At $16.2 Bln Next Year
Nigeria could spend up to 6.72 trillion naira ($16.2 billion) next year if it keeps a fuel subsidy in place;…
German Manufacturing, Services Sectors Shrink In July -flash PMI.
German business activity unexpectedly shrank in July, a preliminary reading of a purchasing managers survey showe;, as companies were hit…
Euro Zone Business Activity Contracted In July As Price Rises Bite
Euro zone business activity unexpectedly contracted this month due to an accelerating downturn in manufacturing; and a near-stalling of service…
Pension operators invest N1.99tn via bank placement
Pension funds fixed in bank placements rose by N520.25bn from N1.64tn as of the end of April 2021 to N1.99tn…
Poland To Buy Jets, Tanks And Howitzers From South Korea, Says Minister.
Poland will buy 48 FA-50 fighter jets, a first instalment of 180 K2 Black Panther tanks and howitzers from South…
Alpha Bank To Sell Bad Loan Portfolio To Hoist Finance.
Alpha Bank (ACBr.AT), one of Greece’s four largest lenders, said it signed a binding agreement to sell; a 400 million…
Column: Dollar Cresting As Central Banks Ape Fed
Central banks around the world are singing from the U.S. Federal Reserve’s hymn sheet – and it could well be…
Danish Central Bank Raises key Interest Rate In Wake Of ECB Hike.
Denmark’s central bank raised its key interest rate by 0.5% points to minus 0.1%; following a rate hike earlier in…
Amazon Strikes $3.5 Bln Deal For One Medical In Long March Into U.S. Healthcare.
\Amazon.com Inc (AMZN.O) agreed to buy primary care provider One Medical (ONEM.O) for $3.49 billion. Expanding the e-commerce giant’s virtual…
UK Firms Report Growth At 17-Month Low, Inflation Pressures Ease -Flash
Britain’s businesses grew at their slowest pace in 17 months in July and inflation pressures eased; according to an industry…
Telecom Italia Shares, Bonds Drop After Moody’s Credit Rating Cut.
Telecom Italia (TLIT.MI) shares and bonds fell after ratings agency Moody’s downgraded the phone group’s credit rating. Moody’s cut TIM’s…
Euro Zone Firms See Continued Inflation, Wage Pressures – ECB Survey.
Businesses across the euro zone continued to report mounting inflation pressures and an acceleration in wage growth. Even as the…
TrustBanc Raises N5.85bn From Commercial Paper.
TrustBanc Holdings Limited, the parent company of three regulated financial services companies; said it has successfully closed its series 7…
EXCLUSIVE Citi, Raiffeisen, Other Foreign Banks Seek Staff In Russia As They Struggle To Exit.
Russian divisions of foreign banks, such as Citi and Raiffeisen Bank International (RBIV.VI); have started looking for staff this month…