China Drives Tesla’s Success as Model Y Becomes World’s Top Seller: China has emerged as the largest market for Tesla’s Model Y electric sport utility vehicles, propelling it to become the world’s best-selling vehicle in the first quarter of this year, according to data from market research firm JATO, as…
In a recent report issued by the Nigerian Exchange Limited (NGX), it has been revealed that domestic transactions on the local bourse have experienced a significant decline of 45.30% over a period of 16 years. The data highlights a decrease from N3.556 trillion in 2007 to N1.945 trillion in 2022.…
Opening the Gates to Innovation In an exciting move towards fostering digital asset innovation, Sberbank, the largest bank in Russia, has announced the expansion of developer access to its cutting-edge decentralized finance (DeFi) platform. Alexander Nam, the head of Sberbank’s Blockchain Lab, revealed this groundbreaking development during the bank’s recent…
Investor Interest Surges in Bond Market: New Offerings Drive Trading Activity The bond market experienced a surge of activity, as investors showed increased interest in various tenors on the exchange. Despite this positive trend, the total volume of trades witnessed a decline, dropping by 27.60% compared to the previous week. The primary catalyst behind the market’s activity was the introduction of new bonds, which accounted for an impressive 80% of…
Following the reinstatement of the Director General and the Editor-in-Chief at RTG, the state media organization continues to face ongoing challenges. In response to the reappearance of the logo on television screens, union members have called for an extraordinary general assembly. Extraordinary General Assembly to Address Concerns The assembly, scheduled to take place on Tuesday, May 30th, at RTG Koloma, aims to address the pressing issues affecting the organization. Strained…
Growing Demand for the 364-Day Tenor In the recent auction, the one-year yield of the 364 Treasury bill witnessed a significant increase of 48 basis points, surging from 6.74% last month to 7.22% mid-last week. The bill was oversubscribed by an impressive 96.58%, indicating a higher demand for the 364-day tenor, as highlighted by Exodus Chief Executive Officer, Ramadhan Kagwandi. While the 182-day bill experienced undersubscription, its yield grew by…
Skoda Auto, the prominent Czech carmaker, is embarking on an ambitious plan to shift its production focus towards electric vehicles (EVs). Martin Jahn, the company’s board member for sales and marketing, revealed in an interview with daily E15 that the majority of Skoda Auto’s production after 2025 will consist of electric cars. This strategic move aligns with the global trend towards sustainable mobility and reflects Skoda Auto’s commitment to a greener future. Projected Electric Car Production Growth According to Mr.…
Tanzania Investment Centre (TIC) is in advanced discussions with Toyota Motor Corporation (TMC) from Japan regarding the potential establishment of an assembly plant in Tanzania. According to TIC’s Senior Investment Officer, Ms. Latiffa Kigoda, the details of the investment will be disclosed after the July meeting. Promising Talks between TIC and Toyota Ms. Kigoda confirmed that Toyota has expressed a keen interest in investing in Tanzania. A delegation of five representatives from Japan will visit Tanzania in early July for…
Investing in Vocational Training for Economic Competitiveness King Mohammed VI of Morocco has inaugurated the City of Trades and Skills (CMC) in the Rabat-Salé-Kenitra (RSK) region. This state-of-the-art vocational training establishment, with a focus on excellence and innovation, is part of a comprehensive program aimed at constructing 12 CMCs across the Kingdom. This initiative, with an estimated investment of 4.4 billion dirhams, demonstrates the King’s unwavering commitment to the vocational training sector as a strategic tool for enhancing economic competitiveness…
The mock exercise conducted by Rescue 1122 to prepare for the monsoon floods Under the supervision of District Emergency Officer Ali Hussain, a mock exercise was conducted by Rescue 1122 in Shadi Khan, located along the Indus River. The exercise aimed to enhance the readiness of the rescue teams in dealing with potential flood situations during the upcoming monsoon season. Relief camps and control rooms established by Rescue 1122 and welfare organizations In collaboration with various institutions and private welfare…
Consumer Lawsuit Challenges Delta’s Carbon Neutrality Claims Delta Air Lines faces a consumer class action lawsuit filed on Tuesday, accusing the airline of falsely presenting itself as the world’s “first carbon-neutral airline” and seeking damages. The complaint, filed in federal court in California, claims that Delta relied on carbon offsets that were largely ineffective. Scrutiny on Carbon Offsets and Delta’s Involvement Companies worldwide purchase carbon credits to offset their emissions by investing in projects that aim to absorb carbon dioxide…
Sierra Leone, along with four other African Development Bank (AfDB) member countries, has pledged to contribute a minimum of $1 million to replenish the African Development Fund (ADF), the concessional window of the Bank Group. The agreement was formalized during the African Development Bank Group’s 2023 Annual Meetings held in Sharm El-Sheikh, Egypt. Enhancing Economic Resilience and Sustainable Development With a focus on poverty reduction and economic development in least-developed African nations, the African Development Fund plays a vital role…
Dina Powell McCormick, one of the most senior women at Goldman Sachs Group Inc. and a former Trump administration official, is leaving the Wall Street firm to join merchant bank BDT & MSD Partners. A new role at BDT & MSD Partners According to a release on Tuesday, Powell McCormick has been appointed vice chair and president of global client services for BDT & MSD Partners, a merchant bank that provides advisory services and invests in family owned companies. The…
Declining Consumer Confidence and Labor Market Concerns Consumer confidence in the United States fell to a six-month low in May due to concerns about the labor market, according to a report released by the Conference Board. However, the survey also revealed that more households are planning to make significant purchases such as motor vehicles and other big-ticket items in the next six months, which could potentially support economic growth in the current quarter. The decline in confidence was particularly noticeable…
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