Finance

The position of the US dollar in the global league table of foreign exchange reserves held by other countries is closely watched. Every slight fall in its share is interpreted as confirmation of its imminent demise as the preferred global currency for financial transactions. The recent […]

Could a new currency be set to challenge the dominance of the dollar? Perhaps, but that may not be the point. In August 2023, South Africa will host the leaders of Brazil, Russia, India, China and South Africa – a group of […]

Abu Dhabi government-owned CYVN will buy 84.7 million newly-issued shares in Nio at US$8.72 apiece, in addition to an acquisition of a stake owned by Tencent’s unit The aggregate holding of CYVN in Nio would rise to around 7 per […]

Asia remains the most costly region in the world to live in, with Singapore taking the number one spot, followed by Shanghai and Hong Kong The survey confirms Asia is the most costly region to live well for the fourth […]

Top officials have held at least six consultations in recent weeks with the executives, according to people present who asked not to be identified when discussing sensitive issues. Leaders pressed those assembled for ideas on ways to stimulate the economy, […]

China is expected to see the biggest net loss of millionaires globally this year as its economy continues to contract, a new report suggests. The country will lose 13,500 high-net-worth individuals (HNWI) with investable wealth exceeding $1 million in 2023, […]

ABUJA (Reuters) – Nigeria’s central bank allowed the Naira to drop about 2% on the official market to a record low on Wednesday, but the currency’s rate remained above where it trades at central bank auctions and on the black […]

BEIJING (Reuters) -China’s biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy. Industrial […]