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World Bank approves $1.5 billion Ethiopia rescue package
World Bank approves $1.5 billion Ethiopia rescue package
Business and Economy
by  AFP

The World Bank has approved a $1.5 billion financial package to support cash-strapped Ethiopia's economic reform programme after officials loosened curbs on the local currency. The IMF board on Monday approved a four-year loan programme worth around $3.4 billion to support the reforms, with around $1 billion immediately disbursed.

HSBC records $21.6 billion pre-tax profit in first half 2024
HSBC records $21.6 billion pre-tax profit in first half 2024
Business and Economy
by  AFP

Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year's record performance. "After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel Quinn, the group's outgoing chief executive.