IMF Approves $650 Billion SDR Allocation of Special Drawing Rights
The International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion to boost global liquidity and will become effective on 23rd August [...]
Impact Investors Put $2.3 Trillion in Social Environmental Projects in 2020
Impact investing continued to attract investors in 2020 as more people increased their awareness of climate change and socialchallenges affecting people around the world. The Global Impact Investing Network describes [...]
UK's Caracal Gold Plc to Dual-list in Kenya this September
Caracal Gold Plc, a gold mining company, based in the UK, has appointed Faida Investment Bank as its financial adviser and joint broker as it plans to do a KSh [...]
Boeing Q2 Revenue Surges to $17B, Driven by Higher Commercial Deliveries
Boeing reported a $17 billion revenue for the second quarter of 2021, up from $11.8 billion in 2020 Q2 following higher commercial deliveries. The company announced a profit of $567 [...]Kenya's Green Housing Projects Receive KSh 5.2 Billion from UK
The United Kingdom(UK) will pump £35 million (KSh 5.2 billion) to develop Kenya's affordable green housing projects. Britain will make these investments through UK Climate Investments and FSD Africa Investments. [...]Prudential Plc to set up at Nairobi's International Financial Hub
Prudential Plc, one of the UK’s oldest underwriter brands, has applied to become one of the Nairobi International Financial Centre's anchor clients. Prudential, listed in London, Hong Kong, Singapore and [...]LG Electronics Plans to Transition to Renewable Energy by 2050
LG Electronics (LG), headquartered in South Korea, has said it plans to transition entirely to renewable energy by 2050. This disclosure is in the firm's latest Electronics Sustainability Report, which [...]US Stock Market News, Earnings Report,
The US stock market gained on Wednesday as the investors digested the earnings reports of major corporations and monitored major business news which include acquisitions. Microsoft announced the acquisition of [...]
UK Digital Banking App Revolut raises $ 800 Million
Revolut, a British-based digital banking app, has collected $800 million in fresh funding together with Softbank's Vision Fund and Tiger Global Management, pushing up the value of the outfit to [...]Foreign Direct Investment Flows Set to Recover in 2021
Global foreign direct investment (FDI) flows are projected to recover this year, after a 35% drop last year due to the covid19 crisis. The latest United Nations World Investment Report [...]Zoom Users in Kenya to Pay 16% VAT beginning August 2021
With its Headquarters in San Jose, United States, Zoom Video Communications Inc has informed its customers in Kenya of plans to begin charging Value Added Tax(VAT) on its supplies beginning [...]Global Markets; US Stocks Review, OPEC, Crypto Markets, Revolut valuation
US stocks closed mixed on Thursday as investors were keenly awaiting the testimony of Federal Reserve Chair Jerome Powell to the US Senate on the state of the economy. Powell [...]
