Inflation stirred up by Egypt’s second currency devaluation this year has made another sizable increase in interest rates all but certain on Thursday, a decision that may also signal how the central bank responds to pressure to allow the pound to weaken further.
After Nigerian fintech Korapay’s account in Kenya was frozen in July on suspicion of money laundering, investigators found only a single transaction, and that was for funds needed to apply for a local license.
Despite a disastrous year for China’s property sector, markets turned from extreme pessimism to euphoria in just a matter of weeks thanks to Beijing’s policy bazooka. Now there are growing signs the rally is faltering.
Traffic in China’s biggest cities has dropped to the lowest since the Lunar New Year break in the early part of the year as the country’s abrupt end to Covid Zero sparks outbreaks nationwide.
Two associates of FTX founder Sam Bankman-Fried have pleaded guilty to criminal charges and have agreed to work with prosecutors.
Reliance Industries Ltd. agreed to buy Metro AG’s Indian unit for 28.5 billion rupees ($344 million) as the nation’s biggest retailer run by billionaire Mukesh Ambani further expands his footprint.
China’s purchases of machines to make computer chips contracted in November to their lowest in more than two years, hammered by cratering electronics demand and new US export restrictions that are limiting the ability of Chinese firms to buy the most advanced equipment.
China’s reopening is disrupting energy markets as the abrupt shift from Covid Zero shutters industry and upends the usual flow of commodities.
A leading Hong Kong developer has won a bid for land in a traditionally expensive area for the lowest price in eight years, in another sign of the city’s weakening real estate market.
Chinese authorities ramped up their calls to prioritize growth next year and help the property sector recover from its worst slump on record, in further signs the economy will be top of mind in 2023.
