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UAE-based investment platform 2PointZero plans to list on the Abu Dhabi Securities Exchange by the end of 2025, as announced by CEO Mariam bint Mohammed Almheiri. Established in 2024 by the International Holding Company, it manages assets exceeding Dh100 billion ($27.23 billion) and targets growth in Asia, Latin America, and Africa.Notably, its subsidiary, International Resources Holding, acquired a 51% stake in Zambia’s Mopani Copper Mines for $1.1 billion in March 2024. The company’s diverse portfolio includes alternative asset manager Lunate and Egyptian financial services firm Beltone, as IHC expands its global investment footprint.
Union Bank of Switzerland (UBS) is testing a tokenized gold product, UBS Key4 Gold, on the Ethereum layer-2 solution ZKsync. This initiative aims to enhance global functionality, offering fractional gold investments with features like real-time pricing and secure storage. The proof of concept successfully utilized ZKsync Validium, reflecting UBS's commitment to integrating blockchain technology into its financial services.
The kwacha has continued its decline, hitting a record low of 27.4604 per dollar, despite the Bank of Zambia's recent 50 basis-point interest rate hike to 14% aimed at stabilizing the currency. This marks the currency's 16th consecutive session of losses, highlighting the challenges posed by a strong dollar and ongoing drought conditions.
The recent IMF-World Bank Meetings highlighted a consensus on a soft landing for the economy, with inflation nearing targets, allowing for potential easing by the Federal Reserve. Emerging markets like Kenya and El Salvador have shown significant recovery, successfully refinancing debts and implementing reforms, while concerns grow over fiscal sustainability in developed markets. Investor sentiment towards emerging market debt is improving, with expectations of capital controls lifting in Argentina and cautious optimism for restructuring in Lebanon.
Zambia has increased electricity imports from neighboring countries to alleviate the impact of severe blackouts caused by an El Niño-induced drought affecting hydropower production. Zesco Ltd., the state utility, received emergency tariff hikes to finance these imports, with a review of the tariffs scheduled in three months.
Zambian Kwacha
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
2PointZero plans Abu Dhabi IPO by 2025 with global investment strategy
06:25 27.02.2025
ubs tests tokenized gold product on ethereum layer two zk sync
20:45 02.02.2025
zambia's kwacha hits record low despite interest rate hike
15:11 14.11.2024
emerging market debt shows resilience amid global economic shifts and reforms
20:47 04.11.2024
Zambia increases electricity imports to alleviate blackouts amid drought challenges
15:53 01.11.2024
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