UAE’s $330 billion sovereign wealth fund, Saudi billionaire family invest in Egypt’s quick-commerce startup.
The Cairo-based company raised $50 million in a pre-Series C round led by the UAE sovereign fund Mubadala Investment Company, Japan’s SBI […]
How Africa’s untapped $1 trillion gold reserves could redraw global economic map.
That is the central finding of a new report by the Africa Finance Corporation, which estimates that Africa hosts over $5 trillion […]
World copper rush promises new riches for Zambia.
Five years after becoming Africa’s first Covid-era debt defaulter, Zambia is seeing a dramatic turnaround in fortunes as major powers vie for […]
ConocoPhillips and partners to invest $2 billion in Greater Ekofisk gas, condensate.
ConocoPhillips and its partners will invest some 20 billion Norwegian crowns ($2.11 billion) to restart production at three fields in the Greater […]
Saudi Arabia’s Aramco Begins Production At $100B Jafurah Gas Project.
Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of […]
China Treasury fears resurface, but the data shows its grip on US debt is fading.
Amid renewed market chatter about China potentially selling U.S. Treasuries, it is worth grounding the discussion in current data. Concerns over foreign […]
U.S.-backed consortium secures $9 billion deal for 40% of Glencore’s DR Congo copper and cobalt mines.
The transaction, announced on Tuesday, covers Glencore’s Mutanda Mining (Mumi) and Kamoto Copper Company (KCC) projects, two of the largest Western-owned producers […]
Japan deep-sea hunt finds rare earths as it seeks to cut reliance on China.
Japan has announced the discovery of rare earth elements at record sea depths. The government said on Monday that a deep-sea test […]
Devon and Coterra to Create Shale Giant in $58-Billion Merger Deal.
Devon Energy and Coterra Energy announced on Monday a definitive agreement to merge and create a premier shale operator in an all-stock […]
Venezuela’s interim president’s oil law reform to break with Chavez model.
Venezuela’s parliament has advanced a proposal to loosen the state’s control over its oil industry and boost the private sector’s role in […]
Gold nears US$5,600 as safe-haven rush intensifies; silver blazes past US$120.
Gold advanced to a new record high near the US$5,600-an-ounce level on Thursday, as investors sought refuge from escalating geopolitical tensions and […]
Afreximbank Unveils $17.5B Lifeline for Angola’s Sonangol.
Africa’s trade finance lender has unveiled a major new funding line for Angola’s national oil company, as the country seeks to stabilize […]