Equity Bank acquires 66.53% stake in Banque commerciale du Congo
With the acquisition, Equity Bank will have two subsidiaries in Congo
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NatWest slashes jobs as economic crisis deepens
This development also includes scrapping of three top level executives
Chinese stock market receives $251.8 bn capital from mutual fund investors
Investors have sold about 1.75 trillion shares in 862 newly launched mutual funds
China establishes oil deal with ADNOC
The deal is expected to be approved by Abu Dhabi’s Supreme Petroleum Council
Aramco sees 73 % profit plunge in second quarter
The company’s Q2 cash flow was recorded to be $6.1 billion and $21.1 billion in Q1
UK to enter recession after GDP slumps by 21%
The first quarter saw a decline in the economy by 2.2 %
Saudi company Elm to acquire Tabadul for an undisclosed amount
As a part of the deal, Elm will acquire 100 % shares of the digital services company
Beike to raise $2 billion for its US IPO debut
Beike would be valued at the top of its IPO range at about $21 bn based on the outstanding Class A and Class B shares
Access Bank takes over Namibian firm Cavmont Capital
As a part of the agreement, Capricorn will inject $300 million into Access Bank as a re-investment
Glencore scraps dividend after recording Q1 loss
The company has faced debt worth $3.2 billion due to the pandemic