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    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

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    Ethiopia and the World Bank sign financing agreements worth $745 million

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    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

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European stocks soar; falling German inflation helps tone

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European stock markets soared Tuesday, boosted by news of falling German inflation, raising hopes that the European Central Bank could relent from its tightening stance earlier than expected.

At 04:30 ET (09:30 GMT), the DAX index in Germany traded 1.4% higher, the CAC 40 in France traded up 1.4%, and the FTSE 100 in the U.K. climbed 2.1%, in its first trading day of the new year.

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Nigeria extends deadline to swap old currency notes by 10 days

Nigeria extends deadline to swap old currency notes by 10 days

30/01/2023
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Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

28/01/2023
1

The state of North Rhine-Westphalia – Germany’s largest by population and economic output – said annual inflation slowed to 8.7% in December from 10.4% in November and a peak of 11% in October, as rebates on household fuel bills caused a 12.6% drop in energy prices during the month, which pushed the overall consumer price index down by 1.0% from November.

This has been seen as good news, potentially opening the way to the European Central Bank pausing its aggressive monetary tightening sooner than originally expected.

That said, overall CPI without volatile food and energy prices still rose 1.0%, pushing the annual ‘core’ measure of inflation up to 4.9% from 4.6%.

Also helping the tone was the German unemployment news, with the country’s unemployment rate falling to 5.5% in December, from 5.6% the previous month.

Investors had been focusing on the contradictory implications of China’s opening up and a resurgence in COVID-19 cases, and the potential impact on Europe given the importance of this export market to some of the region’s biggest companies.

Data from a private survey, released earlier Tuesday, confirmed Chinese manufacturing activity shrank for a fifth straight month in December, with the Caixin Manufacturing Purchasing Managers Index coming in at 49.0.

This represents a drop from last month’s reading of 49.4, and the fifth straight month that the manufacturing PMI has spent in contraction territory.

IMF Managing Director Kristalina Georgieva said on Sunday that the United States, Europe and China – the main engines of global growth – were all slowing simultaneously, making 2023 tougher than 2022 for the global economy.

Oil prices edged higher Tuesday, trading near their highest levels in a month despite the weak factory data from China, the world’s largest crude importer and second-largest oil consumer.

Traders appeared to be taking a more optimistic view on the longer-run prospects for the world’s second-largest economy after the worst of the COVID waves had passed.

By 04:30 ET, U.S. crude futures traded 0.5% higher at $80.69 a barrel, while the Brent contract rose 0.4% to $86.27.

Additionally, gold futures rose 1.1% to $1,846.95/oz, while EUR/USD traded 1.1% lower at 1.0550.

Source: Investing
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