The Trump administration’s suspension of large parts of the US aid budget and its exit from global climate and health pacts has thrown the world’s development finance institutions into disarray The US government and its branches have been largely absent from the Finance in Common Summit, an annual gathering of public development banks with $23 […]
The U.S. Treasury just gave Chevron Corp. a short 30-day eviction notice from Venezuela, cutting off its ability to pump and sell crude from the sanctioned country. The decision, following Trump’s vow to reverse Biden’s oil concessions to Nicolás Maduro and the cancellation of a sanction waiver just days ago, is a seismic shift that could slam […]
Saudi Arabia’s private equity market reached $2.8 billion in total investments across 15 transactions in 2024, maintaining its billion-dollar scale despite a slowdown, according to MAGNiTT’s latest report. This represents a 27 percent year-on-year decrease from $3.9 billion in 2023, signaling a shift in capital allocation amid evolving economic conditions. The number of private equity […]
The U.S. Consumer Financial Protection Bureau told a federal court on Tuesday it was dropping a lawsuit filed in December against three of the nation’s largest banks over their handling of the payment service Zelle, court papers show. The agency, which was virtually shuttered by President Donald Trump last month, had accused JPMorgan Chase, Bank […]
More than 44,000 new jobs are expected in Saudi Arabia after the Kingdom issued 1,346 industry licenses in 2024, an official report has revealed. The Ministry of Industry and Mineral Resources announced that the permits have also helped attract investments worth over SR50 billion ($13.3 billion), driving economic growth and diversification. The ministry added that […]
Honor’s newly appointed CEO pledged to invest US$10 billion over the next five years to drive the artificial intelligence (AI) transformation of the Chinese smartphone maker, as it seeks to integrate the technology across the company’s devices. The “Alpha” investment plan would support Honor’s new strategy to evolve from a smartphone maker into an ecosystem company focused […]
Consumer stocks are making a comeback in Hong Kong after the city’s initial public offering (IPO) market recovered from a multi-year slump and stocks gained a valuation upgrade induced by DeepSeek’s breakthroughs. Mixue’s IPO attracted a record HK$1.8 trillion (US$231 billion) of orders from retail investors before the Chinese fresh drinks chain started trading on […]
Seven & i Holdings Co. will appoint board member Stephen Dacus as the chief executive officer to replace Ryuichi Isaka, the Nikkei newspaper reported citing unidentified sources, in changes seen as a renewed effort to prevent the Japanese retailer’s takeover. Dacus, who worked for decades in the Japanese retail industry, is currently leading a special […]
Oman’s foreign direct investment inflows rose by over 17.6 percent over the past five years, reaching 26.6 billion Omani rials ($69.3 billion) by the third quarter of 2024. As reported by the Oman News Agency, this significant growth highlights the country’s success in solidifying its position as a key global investment hub. The rise has […]
Cryptocurrencies rallied on Sunday after President Donald Trump announced the creation of a U.S. strategic crypto reserve that will include bitcoin and ether, as well as XRP, Solana’s SOL token and Cardano’s ADA. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working […]