On April 8, 2024, Zimbabwe transitions to the gold-backed ZiG currency, moving away from the depreciating ZWL. This initiative, led by Central Bank Governor John Mushayavanhu, relies on 2.5 tons of gold and diverse foreign currency reserves. The change aligns with extensive economic reforms aimed at stabilizing Zimbabwe’s economy amidst inflation and currency depreciation challenges. […]
Oil prices saw a decline on Monday as tensions in the Middle East eased following reports that Israel had scaled back its ground forces in the southern part of the Gaza Strip. This development comes after oil prices surged last week. On the NY Mercantile Exchange, May delivery WTI dropped 0.55% ($0.48) to $86.43/barrel. Similarly, […]
Gold prices achieved an unparalleled milestone, soaring to a new zenith despite complex global dynamics. This climb highlights a sustained upward trajectory, ignited at the week’s onset, amid anticipation of significant U.S. economic indicators and Federal Reserve insights. At the Comex sector of the New York Mercantile Exchange, the precious metal for June soared by […]
The Ibovespa, Brazil’s primary stock market index, concluded its day on a high note, gaining 2,000 points to reach 128,800, thanks to a notable push from Vale. In contrast to the static state of major New York indices, the Ibovespa experienced a robust increase of 1.63%, settling at 128,857 points. This surge turned April’s market […]
The World Bank projects Angola’s economy to grow by 2.8% this year, a significant increase from last year’s 0.8%. This growth is driven by the non-oil sector, which is balancing a 2.5% decline in oil production due to investment shortages and aging oil fields. “Africa’s Pulse” report highlights Angola’s rapid recovery as among Sub-Saharan Africa’s […]