Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, according to an independent study. This surge in lending comes after Africa secured more than $10 billion in loans a year from China between 2012-2018, largely due to President Xi Jinping’s Belt and Road Initiative (BRI). However,
Art
Airlines in the industry that were once eager to expand their fleets with new aircraft are now facing the reality of cash constraints and the need for saving money to return to profitability. Low-cost and deep-discounter carriers are particularly feeling the pressure as they try to navigate the impacts of engine repairs and the overall
The landscape of cannabis consumption is undergoing a significant shift, and this change is evident with the emergence of high-end cannabis dispensary stores on Fifth Avenue in New York City. While this iconic area is known for its upscale retailers like Cartier and Saks, it now also offers a unique shopping experience that includes purchasing
Brazil’s supreme court recently made a bold move by ordering a nationwide suspension of Elon Musk’s social network X. This decision came after X refused to comply with previous court orders regarding content moderation and the appointment of a legal representative in the country. As a result of this suspension, daily fines have been imposed
The recent decision by local power regulator Aneel to impose an additional charge on electricity bills in Brazil is set to impact consumers in September. The move comes as a result of a drop in reservoir levels at hydroelectric plants, compounded by the dry season in the country. Despite the growth of renewable energy sources
Alibaba has successfully completed a three-year regulatory “rectification” process following an antitrust fine for monopolistic practices in 2021, as announced by China’s State Administration for Market Regulation (SAMR). This process required Alibaba to align with antitrust regulations, particularly in regard to the “choose one of two” policy that gave the tech giant unfair competitive advantages.
Brazil’s decision to suspend access to Elon Musk’s X social network highlights a legal controversy between the telecommunications regulator and a judge in the country. The suspension was a result of X missing a court-imposed deadline to name a legal representative in Brazil. This action reflects a clash between Musk and Supreme Court Justice Alexandre
China’s manufacturing sector experienced a slowdown in August, hitting a six-month low, according to an official factory survey released recently. This decline has raised expectations that policymakers will introduce new strategies to channel more stimulus towards households rather than infrastructure projects. Manufacturing PMI Decline The official Purchasing Managers’ Index (PMI) dropped to 49.1 in August,
Dell reported its quarterly results, exceeding Wall Street’s expectations with a significant increase in server sales. The company’s revenue for the fiscal second quarter stood at $25.03 billion, surpassing the estimated $24.53 billion. The earnings per share (EPS) also outperformed predictions at $1.89 adjusted, compared to the anticipated $1.71. This positive outcome led to a
Intel, the chipmaker, saw its stock price surge by 8.5% following news of the company’s collaboration with bankers to explore options to address weaknesses in its core business. This strategic review has instilled confidence in investors, resulting in a positive market reaction. Conversely, Elastic NV’s stock plummeted over 27% after its fiscal second-quarter revenue forecast
As the Labor Day weekend approaches, the summer box office is set to wrap up slightly below previous years, with a projected total revenue of $3.6 billion according to Comscore. This marks a significant drop from the $4.09 billion collected in the summer of 2023. The main reason behind this decrease can be attributed to
Warren Buffett, the legendary investor turned 94 this week and his conglomerate, Berkshire Hathaway, has reached new heights in terms of market capitalization, becoming the first nontechnology company to surpass a $1 trillion market cap. Howard Marks, a well-known investor and friend of Buffett, attributes Buffett’s success to a combination of a well-thought-out strategy, discipline,
Typhoon Shanshan wreaked havoc across Japan, inundating large parts of the country with heavy rains. The storm prompted warnings of flooding and landslides, causing significant disruptions to travel services and industrial production. The southwestern region of Kyushu, where the storm made landfall, bore the brunt of the disaster, with residents in Fukuoka city facing the
The Bank of Israel recently made the decision to maintain its benchmark interest rate at 4.5% for the fifth consecutive time, reflecting concerns over inflation reaching a rate of 3.2%. Despite these inflationary pressures, there is a hesitancy to decrease interest rates due to the ongoing Gaza war and the potential for it to escalate