Sun, February 05, 2023

South Africa

cryptocurrency

Cryptocurrency Versus The Nigerian Central Bank

Cryptocurrency Versus The Nigerian Central Bank The Central Bank of Nigeria (CBN) has adopted a cautious and unfavorable stance toward cryptocurrencies in Nigeria. The CBN warned banks and other financial institutions from trading in cryptocurrencies in a January 2017 statement noting the possible hazards to customers and the financial system. The bank also cautioned that …

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Broker News

Admirals Acquires Kenyan License, Eyes Seychelles Takeover

On Thursday, Kenya’s Capital Markets Authority (CMA) granted a license to Estonia-based Admirals – a non-dealing online forex trading broker. It is an incredible leap forward in global financial technology and marks yet another success for Kenya! Admirals is confident that gaining this license will pave the way for further expansion in Africa, granting access …

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Weekly Market Overview: Forex, Stocks, Crypto, Commodities

Cryptos Are Considered As Financial Products in South Africa

According to experts, a regulatory framework for digital assets should be published in the next stage. The South African regulatory body sees cryptocurrencies as a digital representation of value. The rules provide provisions for South African-based Defi firms and cryptocurrency exchanges. The Financial Sector Conduct Authority (FSCA) of South Africa has declared that cryptocurrencies are …

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Broker News

Trade.com Gets License in Dubai, Eyes for US and Italy

Trade.com, a fast-growing trading brand in Trade Capital Holding’s retail markets, has established a representative office in Dubai and obtained a new license from the Government of Dubai. Roei Gavish, the Group CEO of Trade Capital Holding, said that their new Dubai office would help them develop business partnerships and collaborations in MENA and APAC. …

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After The Ukraine Crisis, China Reaches Out To Its Asia

After the Ukraine Crisis, China Reaches out To Its Neighbors

The Ukraine issue is straining China’s ties with the US and the rest of the West; hence, Beijing has turned its attention to mending wounds with its neighbors. According to analysts, China’s diplomatic frenzy in the last two weeks demonstrates the importance of its neighbors in Beijing’s relationship hierarchy. Following a hectic tour of India, …

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The Rand Of South Africa Weakening As The Dollar Strengthens

The Rand of South Africa Weakening as The Dollar Strengthens

The rand fell off a five-month high versus the dollar early Monday as the greenback rallied;  China’s reimposition of a lockdown impacted risk-taking in Shanghai. The rand (USDZAR) was trading at roughly 14.6100 per dollar at 0605 GMT, down 0.43 percent from its closing on Friday, when it hit 14.4738, its highest level since Oct. …

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WHO, Africa,

WHO announces first tech recipients of mRNA vaccine hub

WHO announced the first six countries that will receive the technology to produce mRNA vaccines. Today, at the EU – African Union summit in Brussels, Dr. Tedros Adhanom Ghebreyesus, WHO Director-General, announced the first countries to receive the tech for mRNA vaccines. These countries are Egypt, Kenya, South Africa, Nigeria, Senegal, and Tunisia. The announcement …

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Weekly Overview: Forex, Stocks, Crypto, Commodities

How European Stocks Reacted to Covid’s New Variant

European stocks rose on Wednesday, with investors analyzing the latest information around the omicron Covid variant. The pan-European Stoxx 600 gained 0.2% by early afternoon, paring earlier gains, with healthcare stocks gaining 1.2% while retail fell 0.9%. The positive trade in the region came after a strong session on Tuesday. This week, Pfizer’s CEO Albert …

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dollar, Weekly Market Overview: Forex, Stocks, Crypto, Commodities

Commodity prices raised as Omicron turned out to be moderate

On Tuesday, riskier currencies picked up while the dollar index remained steady as traders speculated that the new Omicron strain of coronavirus would not be as severe as previously anticipated. Asian shares made a recovery overnight. Oil prices rose as risk appetite changed following reports in South Africa this week saying that the new Omicron …

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