IMF Unveils $45 Billion Trust to Help Vulnerable' Countries
The IMF plans to raise at least $45 billion for a new trust to help “low-income and vulnerable middle-income countries” cope with protracted challenges like pandemics and climate change. The [...]
Elon Musk Launches Hostile Takeover of Twitter for $54.20 per share
Elon Musk on Thursday made an offer to buy 100% ofTwitter Inc for $54.20 per share valuing the social media company at $43 billion. The world's richest man said his [...]
StanChart to Exit 7 markets in Africa, Middle East.
StanChart Bank Plc, the UK-based lender, plans to shut down its network in seven countries in Africa and the Middle East. This is as it seeks to grow its presence [...]
Kenya to Face Shortage of goods from China as Government Imposes Major Lockdowns in Shanghai
Kenyans will be faced with a shortage of goods from China in the next couple of weeks following the move by Chinese authorities to lock down the city of Shanghai, [...]Japanese Yen Drops to a 20 Year Low Against the Dollar
The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan’s ultra-loose monetary policy and Fed tightening. Despite [...]UK Inflation Hits 30-year High of 7%
United Kingdom(UK) cost of living increased to a 30-year-high of 7% in March. This is worsening an already high cost of living situation and threatening the country's economy. March readings [...]MediaPal Named Among 2022 Top Multichannel Marketing Providers by Martech Outlook
MediaPal, a Kenyan ad-tech firm has been listed among the top multi-channel marketing solutions providers. The award, by Martech Outlook-a US magazine, recognizes the ten best companies at the forefront [...]U.S Inflation climbed to 8.5% in March, Highest Rate since 1981
U.S. consumer price increases quickened in March, underscoring ongoing inflation pressures as supply chain disruptions and shortages lingered across the economy. The Bureau of Labor Statistics (BLS) Consumer Price Index [...]IFC to invest $15M in Egypt’s Algebra Ventures
The International Finance Cooperation (IFC) has pledged a $15 Million investment in Egypt’s Algebra Ventures. IFC intends to support the growth of approximately 20 technology start-ups, primarily in Egypt but [...]Honda to Invest $40 Billion in Electric Vehicles in the Next 10 Years
Japanese automaker Honda has announced plans to invest $40 billion into electric vehicle technology in the next ten years, even as it seeks to switch all sales away from traditional [...]
Twitter Shares Decline as Elon Musk Declines Plans to Join Board
Twitter shares fell Monday morning after CEO Parag Agrawal revealed that Elon Musk has abandoned his plan to join the company’s board. Elon bought 73.5 million Twitter shares on March 14 — a [...]Scope Markets Appoints New CEO
Scope Markets Kenya, a licensed non-dealing online foreign exchange broker, has announced the appointment of Alex Karanja Njoroge as its Executive Director and Chief Executive officer. Also appointed is Kenneth [...]
