Italy’s government is working “constructively” with Pirelli and its investors to resolve a governance dispute that has impacted the tyre maker in recent years. The government aims to ensure that Pirelli remains fully competitive in all markets while complying with evolving regulatory requirements. The focus is on managing the role of state-backed Chinese shareholder Sinochem,...
Switzerland and UBS are reportedly signalling a willingness to find common ground on new bank capital requirements, potentially paving the way for parliament to approve rules acceptable to both the government and the bank. UBS has strongly criticised the government’s proposed regulations—introduced in June after the 2023 Credit Suisse collapse—which would have required an additional...
Botswana has established a new sovereign wealth fund aimed at economic diversification, job creation, and management of state-owned companies. This initiative comes as the Southern African nation faces a downturn in its diamond-dependent economy, which contributes roughly 75% of exports and one-third of fiscal revenue. Unlike the existing Pula Fund, which primarily serves as a...
Stablecoin issuer Figure Technologies has increased both the size and price range of its IPO, now targeting $20–$22 per share and 31.5 million shares, potentially raising $693 million and valuing the company at $4.66 billion. Trading is set to begin on Nasdaq under the symbol FIGR this Thursday. Co-founded in 2018 by tech entrepreneur Mike...
Foreign direct investment (FDI) into developing economies fell to $435 billion in 2023, the lowest level since 2005, according to the World Bank’s latest report. Advanced economies also saw weak inflows—just $336 billion, the lowest since 1996.This sharp drop signals more than just economic turbulence—it represents a serious threat to long-term development efforts, from job...
The Bank of Japan (BOJ) kept its short-term interest rate unchanged at 0.5% on Tuesday, while announcing it would slow the pace of bond purchase reductions starting next fiscal year. The move signals a measured and cautious approach to unwinding its long-standing monetary stimulus.While the decision was widely expected, it comes at a complex time...