Olusegun Obasanjo, Nigeria’s former president turned businessman, is set to visit the Kribi deep-sea port in Cameroon this April to launch his company, Obasanjo Agro-Allied Business Ltd (OABL). His venture aims to strengthen cross-border trade between Cameroon and Nigeria. According to Agha Albert Ngwana, CEO of Aftel Cameroon Limited, a partner of Obasanjo’s group, OABL […]
Months after President Donald Trump had been hammering Panama over its most valuable asset, the Panama Canal, an investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in the place owned by a Hong Kong company. BlackRock will buy the ports, which sit at either end of the […]
South Korea, China and Japan held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the three Asian export powers brace from U.S. President Donald Trump’s tariffs. The countries’ three trade ministers agreed to “closely cooperate for a comprehensive and high-level” talks on a South Korea-Japan-China free trade agreement […]
Four Chinese state-owned banks announced plans on Sunday to introduce the Ministry of Finance (MOF) as a strategic investor through targeted share placements, with their boards having approved proposals to issue A-shares to designated investors. The initiative includes the Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BOCOM), and Postal Savings Bank […]
Step aside China’s Cosco and the UAE’s Dubai Ports World – the Middle East has a flashy new port power. It’s an alliance between the $11 trillion American asset manager BlackRock and a secretive Italian family that owns the Mediterranean Shipping Company (MSC). Their consortium reached a $22.8bn deal in March to take over 43 ports owned by […]
The World Bank said Nigeria needs between $10 and $15 million investment annually in its statistical system to outperform that of South Africa, Brazil, Mexico, and Colombia. This comes as the bank lamented that Nigeria’s statistical system is below that of South Africa and other aspirational peers. World Bank spokesperson, Mrs. Julie Osagie-Jacobs, in a […]
The UAE’s economy is poised for substantial growth, according to the Central Bank of the UAE (CBUAE). Its latest Quarterly Economic Review forecasts a 4.7 percent GDP increase in 2025, with further acceleration to 5.7 percent in 2026. The report highlighted that the UAE’s non-oil trade surpassed AED2 trillion in the first nine months of 2024, […]
Dubai’s Emirates NBD has partnered with US-based investment firm BlackRock to launch a dedicated platform aimed at giving its wealthy clients greater access to private markets and alternative assets. The two firms signed a memorandum of understanding to create this platform, as well as introduce an initial range of evergreen offerings focused on income and […]
Saudi Arabia’s Capital Market Authority has proposed easing investor criteria for Nomu, the Kingdom’s parallel market, aiming to expand participation and improve liquidity. The proposed amendments suggest reducing the minimum transaction requirement for individual investors from SR40 million ($8 million) to SR30 million over a 12-month period. Additionally, the requirement for quarterly trading activity would […]
Hong Kong’s MTR Corp has issued its largest public bond, raising US$3 billion from a three-tranche offering amid a hot credit market in Asia. The railway operator’s bond received a strong response from local and international institutional investors, who subscribed to US$13.4 billion in the book-building process, or 4.47 times the issue size. The pricing […]