Category: Finance

Seizing the Moment: FATF Revisions and Financial Inclusion 2.0 | Blog

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The Financial Action Task Force (FATF) is consulting about proposed revisions to its anti-money laundering, counter-terrorism financing, and counter-proliferation financing (AML/CFT/CPF) standards. The proposed revisions to Recommendation 1 (R.1) aim to bolster financial inclusion by refining how the risk-based approach (RBA) is implemented globally. While the updates are a step forward, the financial inclusion community […]

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Saudi Arabia Renews $3 Billion Loan to Pakistan to Strengthen Foreign Reserves

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Saudi Arabia has extended its financial support to Pakistan by renewing a $3 billion deposit with the State Bank of Pakistan (SBP), continuing a partnership aimed at bolstering Pakistan’s foreign exchange reserves. This renewal, announced by the Saudi Fund for Development (SFD), will provide Pakistan with much-needed liquidity to stabilize its economy amid significant debt […]

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$1 trillion Estimated Cost of Startup Failure: Reversing the Trend and Building a Thriving Business Ecosystem

Solomon AlakaLeave a Comment on $1 trillion Estimated Cost of Startup Failure: Reversing the Trend and Building a Thriving Business Ecosystem

Startup businesses are the backbone of innovation, economic growth, and job creation worldwide. However, despite their immense potential, a staggering 90% of startups fail, leaving billions of dollars in lost investments and untapped opportunities. This high failure rate presents a critical challenge, not only to entrepreneurs but also to the broader economy. In this article, […]

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Israel Bank Leumi speaks your language: Stop translating – start banking!

Solomon AlakaLeave a Comment on Israel Bank Leumi speaks your language: Stop translating – start banking!

Bank Leumi makes it easy for English speakers to conduct their banking business entirely in English – both online and in person – with a variety of services in English that enable users to quickly and easily access their accounts, communicate with bank representatives, and perform a wide variety of transactions. In fact, Bank Leumi […]

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ADNOC Launches XRG: An $80 Billion Investment Platform for Low-Carbon Energy and Chemicals

Solomon AlakaLeave a Comment on ADNOC Launches XRG: An $80 Billion Investment Platform for Low-Carbon Energy and Chemicals

The Abu Dhabi National Oil Company (ADNOC) has introduced XRG, a groundbreaking international investment platform with an enterprise value exceeding $80 billion. This newly formed venture aims to drive the transition towards lower-carbon energy and chemicals, capitalizing on emerging global trends to position itself for long-term growth. XRG will operate as an independent entity with […]

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IFC Secures AUD 700M Through Green Kangaroo Bond to Boost Biodiversity and Climate Initiatives

Solomon AlakaLeave a Comment on IFC Secures AUD 700M Through Green Kangaroo Bond to Boost Biodiversity and Climate Initiatives

The International Finance Corporation (IFC), a member of the World Bank Group, has successfully raised AUD 700 million through a 10-year green Kangaroo bond to fund biodiversity and environmental initiatives in emerging markets. This landmark issuance is part of the IFC’s broader efforts to close the biodiversity finance gap and promote sustainable development in regions […]

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Israeli tech faces fundraising challenges, private investors step up

Solomon AlakaLeave a Comment on Israeli tech faces fundraising challenges, private investors step up

Concerns regarding Israel’s political and economic stability have introduced new challenges for fundraising in the tech sector. In response, angel investors and investment clubs are stepping up to offer late-stage investment opportunities to fill the gap. Recent reports from Israel’s Innovation Authority and Start-Up Nation Central (SNC) highlight the impact of geopolitical turbulence on Israel’s […]

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“PRI and SSE Initiatives: Shaping Global Investment with $120 Trillion in Assets”

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Global Surge in Sustainable Finance: PRI and SSE Initiatives Paving the Way for Responsible Investment The global finance sector is undergoing a monumental shift towards sustainability, with the Principles for Responsible Investment (PRI) and the Sustainable Stock Exchanges (SSE) Initiative leading the charge. These initiatives have catalyzed an investment movement that prioritizes environmental, social, and […]

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Mekorot reports 14% net income increase to NIS 166m. in Q1-3

Solomon AlakaLeave a Comment on Mekorot reports 14% net income increase to NIS 166m. in Q1-3

Mekorot, Israel’s national water company, concluded the first three quarters of 2024 with a net profit of approximately NIS 166 million — a 14% increase compared to the same period in 2023, which saw a net profit of NIS 146 million. The company’s total revenues were approximately NIS 4.04 billion for the first three quarters […]

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Vietnamese Property Tycoon Faces Death Sentence Over Reduced $12.3 Billion Embezzlement Bill– A Call for Mercy and Time to Repay

Solomon AlakaLeave a Comment on Vietnamese Property Tycoon Faces Death Sentence Over Reduced $12.3 Billion Embezzlement Bill– A Call for Mercy and Time to Repay

In a high-profile case that has captured global attention, Truong My Lan, a 68-year-old Vietnamese property magnate, is at the center of a legal and moral dilemma. Convicted of embezzling an astonishing $12.3 billion from the Saigon Commercial Bank, Lan was sentenced to death in April. Her crimes, including bribery of government officials and violating […]

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