Economy
Melinda Gates to leave Gates Foundation, keeps $12.5bn for her work
Philanthropist Melinda French Gates announced Monday she was leaving the nonprofit foundation she established with her ex-husband Bill Gates -- an organization that has become one of the most influential in the world. Bill Gates on Monday thanked his ex-wife for her "critical contributions" to the organization.
GameStop shares soar as 'Roaring Kitty' returns
Shares in GameStop, the company at the center of the "meme stock" craze that throttled Wall Street in early 2021, soared Monday in a move that recalled the earlier speculative frenzy. Shares were up more than 63 percent at $28.52 near 1730 GMT. AMC Entertainment, another "meme stock" from that period, jumped nearly 50 percent.
Standard Bank predicts new exchange rate for naira, sets FX inflow at $5.1 billion in 3 months
A new report by the Standard Bank has predicted that Nigeria will earn about $5.1 billion in foreign inflow and that the naira would settle at N1,219 per dollar.
IMF gives draft approval to Argentina payout of almost $800 mn
IMF staff have reached an agreement with Argentina on a loan program review that should unlock almost $800 million in much-needed funds for the Latin American country, the Washington-based financial institution said Monday.
US Fed vice chair says interest rates should remain on pause
The US central bank should keep interest rates at their current "restrictive" levels until it sees real progress in the fight to lower inflation, a senior Fed official said Monday.
Anglo American rejects BHP's improved takeover bid
Australian mining giant BHP revealed Monday that British rival Anglo American has rejected an "improved" takeover bid worth £34 billion ($43 billion) as it aims to create a copper titan. Anglo's stock has been boosted since the initial approach as traders bet on a possible bidding war with other mining giants like Glencore or Rio Tinto.
Chinese firms exit Romania solar tender after EU probe
Two Chinese-owned solar panel manufacturers have withdrawn from a public procurement tender in Romania after the EU launched an anti-subsidy probe, Brussels said Monday.
Saudi Arabia's billion-dollar football league a work in progress
Anyone expecting immediate results from Saudi Arabia's unprecedented splurge on football stars was probably disappointed as the billion-dollar spending created a lopsided season with no international silverware so far.
Maldives gets IMF debt warning as more Chinese loans loom
The International Monetary Fund warned the Maldives against looming "debt distress" Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China. The Maldives is a small nation of 1,192 tiny coral islets scattered 800 kilometres (500 miles) across the equator, but it strategically straddles key east-west international shipping routes.
Economy
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