China solidified its position as Africa’s largest bilateral trading partner last year, as trade with the continent reached a record $282.1 billion, up 1.5% from 2022. But a 7.5% surge in Chinese exports, to $173 billion, was not matched by imports from Africa, which fell by 6.7% to $109 billion, widening Africa’s trade deficit with … Read more
Bhutan is banking on a unique mix of abundant energy, a clean environment, and wellness entrepreneurism to lure foreign investors. A constitutional monarchy of 800,000 people, Bhutan is nestled in a region that’s home to nearly 3 billion. Bordered by China to the north and India to the east, west and south, the Himalayan nation … Read more
Innovation and leadership are core to Awash Bank’s success, both in its legacy as well as its future. It is already a pioneering privately-owned bank in Ethiopia’s financial landscape. Among its 29 peers in the domestic market, Awash Bank dominates in terms of asset size, profitability, capital base, deposits, and loans and advances. The next step, for most of the rest of this decade, is a roadmap to transform the bank to reach greater heights. “Our vision is … Read more
After a half-century in which it embraced a doctrine of free trade, the industrialized West seems to be moving in the opposite direction: rolling out an expanding list of new tariffs on imports and placing increased reliance on industrial policy to promote domestic industries. In the US, with both parties in this November’s presidential election … Read more
After a bailout pulls Egypt back from the brink, new foreign investment and robust local banks sector suggest a return to growth. Last fall, as conflict erupted in Gaza, Egypt’s economy, already weakened by the Russia-Ukraine war and the Covid-19 pandemic, teetered on the brink of collapse. By early 2024, the Arab world’s largest country … Read more
A $734 million initial public offering by Ola Electric Mobility Limited, an Indian electric two-wheeler (E2W) maker, surpassed expectations to emerge as the Mumbai market’s most successful-ever debut on August 9. Ola is a pure electrical vehicle (EV) brand with a leadership position in scooters and motorcycles, claiming a 49% market share in the E2W … Read more
For hundreds of years, there was no need for Islamic finance because there was simply no financial system to “Islamise.” Up until the second half of the 19th century, the vast majority of the Muslim population around the world was unbanked and the prohibition of interest was applied on transactions by tradition rather than by … Read more
The first of five parts of a Global Finance FAQ web series on Islamic finance. In just a few decades, Islamic finance has established itself as a significant player in global finance. Today, with thousands of institutions around the world, this sector is no longer limited to the devout clientele of Muslim countries in the … Read more
Home Features Islamic Finance FAQ: A Global Finance Series Islamic finance is a fast-growing $3.9 trillion industry, yet many finance professionals do not know halal from haram. Global Finance answers the most frequently asked questions about Islamic finance in this five-part series. Top 5 FAQs: 1. What Is Islamic Finance? 2. How Does Islamic Finance … Read more
Mid-tier accounting firms have found new paths to finance their growing needs. Last November, US accounting firm Forvis purchased the US unit of French Mazars to create a robust audit and advisory network. A few months earlier, BDO turned to an employee stock ownership plan to foster employee recruitment. Earlier this year, Chicago-based Grant Thornton … Read more