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Global stocks headed for their biggest weekly decline in more than three months following a spate of central bank rate hikes that have pushed up bond yields and heightened fears of recession. European equity futures fell about 0.4% Friday, as did contracts for US benchmarks, taking little relief from Treasury Secretary Janet Yellen’s view that … Read More “Global stocks on course for worst week since March: Markets wrap” »
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Oil headed for a weekly loss of over 4% after the Federal Reserve signaled that further rate hikes were needed, bruising appetite for risk, aiding the dollar, and raising the prospect of an economic slowdown. West Texas Intermediate fell below $69 a barrel after tumbling 4.2% on Thursday. In testimony this week, Fed Chair Jerome … Read More “Oil suffers steep weekly decline as Fed flags further tightening” »
by Fintechnews Africa 21 June 2023 In Africa, improved productivity, increased digitalization and a rapidly expanding talent pool are laying the foundations for the continent to become a major services outsourcing destination, a new report by McKinsey and Company says. The report, released on June 05, 2023, looks at Africa’s economic, social and demographic trends … Read More “Digitalization: Africa to Become a Top Services Outsourcing Destination in Case Productivity Gets Better” »
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South African inflation slowed more than projected to a 13 month-low in May, easing pressure on the central bank to continue raising interest rates. The annual inflation rate was 6.3%, down from 6.8% in April, according to a report released by the statistics office on Wednesday. The median estimate of 13 economists in a Bloomberg … Read More “CPI slows more than expected in May” »
by Fintechnews Africa 20 June 2023 Google Cloud announced a new collaboration with Moniepoint, an Africa-focused business banking platform that provides financial services to Nigeria’s underbanked businesses residing in remote areas and communities. The collaboration makes financial services accessible at scale to millions of small and medium sized enterprises (SMEs) by bridging the banking gap … Read More “Moniepoint Partners with Google Cloud in Nigeria” »
To read this article, you must be a paid subscription member. (Current members login here) Reserve your digital subscription today Join now for $35 per month Join now for $399 per year for access to: Weekly newsletter with original and curated news, analysis, and perspective Africa’s private capital deals, fundraises, and the investment firms … Read More “Convergence rebrands permanent capital vehicle, taps dedicated CEO” »
The European Central Bank is poised to deliver what could be the penultimate increase in its unprecedented campaign of interest-rate hikes. Economists and markets overwhelmingly expect the deposit rate to be lifted by a quarter-point to 3.5% on Thursday, leaving them focused on guidance for how much further officials expect to raise borrowing costs with … Read More “ECB enters home stretch of historic hiking cycle: Decision guide” »
