Real Time Financial News Website
In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from foreign creditors between January and October 2021. An analysis of reports…
JP Morgan Chase filed suit against electric vehicle maker Tesla in a dispute over warrants, according to court filings out Monday. The bank is seeking $162.2 million plus interest, attorneys’…
Bitcoin and other cryptocurrencies fell sharply on Tuesday retreating from near-record highs. Bitcoin fell toward $60,000 during late morning trade Singapore time, according to CoinDesk data. It recovered some of…
The consumer price index (CPI), which measures the rate of change in prices of goods and services, declined for the seventh consecutive time to 15.99 percent in October 2021. The…
WeWork shares were up more than 2% Monday after the company announced third-quarter earnings, the company’s first report since going public in October. Total revenue for the quarter was $661…
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and a combined total wealth of approximately $207 billion, as at…
Burger King parent Restaurant Brands International announced Monday it bought Firehouse Subs for $1 billion. Shares of the restaurant conglomerate rose more than 1% on the news. The stock has…
Airtel Africa Plc says it has been granted approval-in-principle by the Central Bank of Nigeria (CBN) to operate as a super-agent in Nigeria.In a corporate filing on the Nigeria Exchange…
Portugal has passed new labor laws which include a ban on bosses contacting employees outside of working hours. The new labor laws were passed by Portugal’s Parliament earlier this month…
African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of…
Following the drive to raise funds to finance the N4.28 trillion 2021 budget deficit, the federal government listed a total of N812.2billion new and supplementary bonds in October crowding out…
AfricInvest, a pan-African asset management platform that makes private equity, venture capital and private credit deals, has inked a debt transaction with Ruai Family Hospital Ltd (RFH Healthcare). The alternative…
Social impact investor Oikocredit has provided debt capital of €5 million ($5.8 million) to Union des Caisses de Credit Mutuel du Sénégal (CMS), the only microfinance institution in Senegal with…
Ata Capital has completed a management buyout (MBO) of Respiratory Care Africa (RCA), a medical devices supplier, from South African healthcare group Ascendis Health. The MBO was financed through Ata…
MFS Africa, Africa’s largest digital payments network, has raised US$100 million through an equity and debt financing round. The fundraising marks another milestone in MFS Africa’s expansion, following a series…
JUMO, a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by…
The pharmaceutical supply chain across Africa has for decades remained fragmented leading to sourcing and distribution challenges as well as quality concerns; as fake and substandard products flood the market.…
Telenor and Alphabet Inc’s Google Cloud have formed a partnership to digitalise the Norwegian telecom company’s global operations and are exploring ways to jointly offer services to customers, the two…
Hot on the heels of Netflix’s breakout South Korean hit “Squid Game,” Apple has rolled out its first Korean-language original series this month, to coincide with the launch of its…
International Business Machines Corp and Amazon.com Inc’s Amazon Web Services said on Monday they would work together to extend the reach of a set of tools that oil companies use…
The commercial real estate brokerage market in South Korea is fragmented, which makes finding a new office for tenants a challenge due to inaccurate listing information, high brokerage fee and…
A total of 13 airport consortia, comprising local and foreign companies, have submitted bids to be prequalified for the planned concession of four Nigerian international airports. This came as the…
The Debt Management Office has said the Federal Government will offer N150bn bonds for subscription this month. A circular by the DMO on its website showed that the breakdown of…
The Federal Government, on Friday, inaugurated a portal for its National Housing Programme and urged Nigerians to apply for affordable homes through it. The Minister of Works and Housing, Babatunde…
Chief Executive Officer, Pension Fund Operators Association of Nigeria, Oguche Agudah, said on Friday that eight out of the 20 pension fund administrators in the country have scaled the recapitalisation…
Daniel Ford International a leading property search and acquisition consultancy, is hosting 1986 Nobel Prize winner, Professor Wole Soyinka, for a reading and discussion evening of his latest book ‘Chronicles…
Tesla Inc Chief Executive Officer, Elon Musk, has sold an additional portion of his share in his company worth about $687m, regulatory filings revealed this. Earlier in the week, Musk…
Nigeria’s naira rebounded in the illegal market as the central bank boosted sales of dollars through commercial banks, according to traders. This has helped to close the gap with the…
The federal government has increased the prices of both single-phase and three-phase prepaid electricity meters. The Nigerian Electricity Regulatory Commission (NERC) announced this in a circular seen by TheCable, dated…
Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol…