Category: Business

Skechers, the world’s third-largest footwear company, is set to go private after agreeing to a $9.4 billion acquisition by 3G Capital. The deal offers a substantial premium to shareholders and keeps CEO Robert Greenberg in charge as the company contends with global supply and trade pressures.

The Beijing Stock Exchange has introduced securities lending and margin trading services, aiming to boost market liquidity and enhance price discovery. Targeted at stocks meeting specific criteria, this move supports small and mid-sized enterprises under CSRC guidance. The initiative complements CBEX's focus on commodities and state-owned enterprises.

Former Finance Minister Ngozi Okonjo-Iweala points out that Nigeria's GDP growth rate has been negative since 2014. With GDP per capita declining by 0.9% annually over the past decade, the economic situation for the general population has worsened. Okonjo-Iweala calls for urgent economic reforms to reverse this trend, despite notable positive performances in some recent quarters.

President William Ruto has secured USD238 million from Korea Exim Bank to fund the Konza Digital Media City. This ambitious project aims to position Kenya as a leader in Africa's creative industry by developing a cutting-edge hub at Konza Technopolis. The funding was secured during the Korea-Africa summit in Seoul.