Category: Semafor

S&P Global Ratings downgraded Senegal’s long-term foreign currency rating, citing a high chance that the country will default on its debt following an agreement reached with the IMF for a $2.2 billion loan. The rating decision drops the West African nation deeper into junk territory and underscores its vulnerability since ...

The Dangote Refinery has secured the approval of Nigeria’s securities regulator to launch an initial public offering on the stock exchange in Lagos. The company, whose 700,000 barrels-a-day oil plant is Africa’s largest, is set to raise about $1.6 billion. The latest step bookends a year-long anticipation for an offer ...

Moove, the Nigeria-born unicorn that has been Uber’s vehicle financing partner in sub-Saharan Africa, is considering an exit from Nigeria following the ride-hailing company’s departure last week. The company, which began offering new cars to Nigerian Uber drivers five years ago with a payment plan tied to daily earnings, is ...

by R.K. Narayan. Hindus the world over last week marked Janmashtami, a celebration of the birth of the god Krishna, a deity who plays a central role in the , one of the two central epics that define Hinduism. This condensed version — the original comprises 100,000 verses — by ...

Neither Russia nor Ukraine appear to hold high hopes for the ongoing US diplomatic push toward peace. Trump administration envoys who traveled to Kyiv and Moscow over the weekend hailed “substantive” talks, but Ukrainian President Volodymyr Zelenskyy said he expected the war to continue into winter, and his Russian counterpart ...

European bond yields rose on fears that renewed tensions in the Middle East could accelerate inflation, crimping the already tight fiscal space for under-pressure governments across the continent. French, Italian, and UK bonds have fallen the most in the G7 in the past month, while German yields rose on concerns ...

China will inject $45 billion into its largest banks and insurers, its biggest recapitalization push in decades as Beijing looks to boost the country’s faltering economy. China’s growth target is already its lowest since 1991, and the economic picture is darkened further by a real estate downturn that is straining ...

The Scoop AI data center builder DataVolt, linked to Saudi billionaire Mohammed Abunayyan, plans to complete a 100-megawatt facility in NEOM within 13 months, focused entirely on exporting compute capacity. The data center will cost around $1 billion and has already broken ground. Rajit Nanda, DataVolt’s chief executive, said the ...

The Scene HUMAIN CEO Tareq Amin recognizes Saudi Arabia’s latest effort to transform its economy for what it is: an audacious bet that it can join the US and China as a global AI superpower. Ahead of US President Donald Trump’s visit to the Kingdom last year, the Jordanian-American tech ...

A dossier made public Saturday shed light on allegations that Sudan’s military developed and used chemical weapons in the country’s devastating civil war. Documents, videos, and text messages reported by The New York Times and The Washington Post, and provided by Middle Eastern security officials from an unnamed country, appear ...