The recent decision by the Central Bank of Nigeria to increase its key interest rate by 200 basis points has significant implications for Africa’s largest economy. This move comes in the wake of a historic currency crisis and soaring inflation rates, prompting policymakers to take action in an attempt to stabilize the economy. Governor Olayemi
Finance
Recently, news broke that one of the Binance executives who was detained in Nigeria managed to escape custody. This development comes amidst reports that the Nigerian government has lodged fresh tax evasion charges against the global cryptocurrency exchange. The Federal Inland Revenue Service (FIRS) in Nigeria unveiled four new charges related to tax evasion, including
The private equity market in Asia Pacific experienced a significant decline in deal value last year, reaching its lowest point since 2014. This downward trend was accompanied by a drop in fundraising to a 10-year low, reflecting the challenges posed by slowing growth, high interest rates, and volatile public markets. According to Bain & Company’s
Roundhill Investments, a major exchange-traded fund provider, is gearing up to launch a new fund that will concentrate on companies behind GLP-1 drugs in the health care sector. According to Dave Mazza, the firm’s chief strategy officer, the fund is expected to debut in May. Mazza highlights the importance of monitoring this space closely, as
As the AI industry continues to boom, it is crucial for startups to secure solid investments to fuel their growth and development. One such startup, Anthropic, is currently in the process of selling off an 8% stake that was previously owned by FTX, a failed cryptocurrency exchange. However, one major player seems to be missing
In recent times, the United States has experienced a significant increase in immigration, which has had a positive impact on the country’s economy. Joyce Chang, chair of global research at JPMorgan, highlighted the role of immigration in bolstering the economy amid global challenges. The Federal Reserve has raised its GDP growth projection for 2024 to
The trade tensions between Europe and China are reaching new heights, primarily due to China’s increasing ability to manufacture goods more affordably in key strategic industries. Jens Eskelund, the president of the European Union Chamber of Commerce in China, expressed his concerns about the situation, labeling it as a “slow-motion train accident.” Eskelund emphasized that
Hindenburg Research has made a name for itself in the world of public activist short-selling, taking on big-name companies and causing significant disruptions in their share prices. Founded by Nate Anderson, this New York-based firm has gained a reputation for its boldness and fearlessness, going after prominent figures like Carl Icahn and Gautam Adani. Short
China’s economic data for the first two months of the year surpassed analysts’ expectations, indicating a positive start to 2022. Retail sales saw a 5.5% increase, outperforming the forecasted 5.2% rise, while industrial production rose by 7%, compared to estimates of 5% growth. Fixed asset investment also showed growth, with a 4.2% increase exceeding analysts’