The recent decision by the Central Bank of Nigeria to increase its key interest rate by 200 basis points marks a significant step in the country’s efforts to recover from a historic currency crisis and curb soaring inflation. This move comes on the heels of a previous 400 basis point increase earlier this year, demonstrating
Finance
The recent news of Binance executives facing tax evasion charges in Nigeria has sent shockwaves throughout the cryptocurrency industry. The Nigerian government has accused the global cryptocurrency exchange of several counts of tax evasion, including alleged non-payment of VAT and company income tax, failure to submit tax returns, and complicity in aiding customers to evade
The private equity market in Asia Pacific witnessed a significant decline in total deal value last year, dropping to its lowest level since 2014. This decrease can be attributed to various factors such as slowing growth, high interest rates, and volatile public markets. According to Bain & Company’s 2024 Asia-Pacific Private Equity Report, fundraising also
Roundhill Investments, a prominent exchange-traded fund provider, is set to introduce a new fund that will focus on companies involved in the development and distribution of GLP-1 drugs. The firm’s Chief Strategy Officer, Dave Mazza, has indicated that the fund is expected to debut in May, with more details to be revealed soon. Mazza emphasized
Anthropic, a leading artificial intelligence startup, has made headlines with its decision to decline investment from Saudi Arabia, citing national security concerns. This move has raised eyebrows among potential investors and industry analysts, as the kingdom’s sovereign wealth fund has been actively seeking opportunities in the tech sector to diversify its economy. The stake in
The recent surge in immigration to the United States is proving to have a positive impact on the economy, despite facing numerous global challenges. Joyce Chang, the chair of global research at JPMorgan, highlighted the significant role that immigration is playing in bolstering the U.S. economy. The Federal Reserve’s decision to increase its U.S. GDP
The trade tensions between Europe and Beijing are reaching new heights as China’s ability to manufacture goods more cheaply in strategic industries continues to grow. Jens Eskelund, the president of the European Union Chamber of Commerce in China, expressed his concerns about this escalating situation. He described it as “the unfolding of a slow-motion train
Hindenburg Research, a New York-based activist short-selling firm founded by Nate Anderson, has gained a reputation for its aggressive approach towards high-profile companies and billionaires in recent years. The company is known for its fearlessness in targeting companies it deems to be overvalued or fraudulent, which has resulted in significant share price declines for its
China recently released its economic data for the first two months of the year, surprising analysts with better-than-expected results. Retail sales, industrial production, and fixed asset investments all outperformed forecasts, showcasing strong growth momentum. However, despite the positive figures, National Bureau of Statistics Spokesperson Liu Aihua cautioned that domestic demand remains insufficient, particularly in the
Bitcoin, once known for its extreme volatility, is now starting to shed that reputation. According to Matt Hougan, the chief investment officer at Bitwise Asset Management, the cryptocurrency’s price swings have decreased significantly over the last decade. This shift can be attributed to a demand-supply imbalance in the market, with a surge in demand from