Ghana will sell its first local-currency bond next week for the first time since its 2022 debt default, returning to the market to help finance its budget. The sale of seven-year securities will start on March 30 with an initial pricing guidance, and close on April 1, bond bookrunners said in an emailed statement. President John Mahama ’s government is banking on its success in slowing inflation t...
Ghana will sell its first local-currency bond next week for the first time since its 2022 debt default, returning to the market to help finance its budget. The sale of seven-year securities will start on March 30 with an initial pricing guidance, and close on April 1, bond bookrunners said in an emailed statement. President John Mahama ’s government is banking on its success in slowing inflation to a near three-decade low of 3.3% and the central bank’s move to cut interest rates by 14 percentage points since July to 14% to attract investors. “With market rates having fallen materially and Ghana’s external buffers and fiscal metrics having improved significantly, the yield on the new bond,” may not be very attractive for foreign investors, said Samir Gadio , head of Africa strategy at Standard Chartered Plc . Still, for overseas investors, Ghana is good because of “diversification factors,” he said. The government of Africa’s biggest gold producer has been spurred by a rally in bullion prices that helped the central bank build foreign exchange reserves and stabilize the cedi. Resumption of local debt offerings is aimed at “re-establishing a domestic funding program,” the Finance Ministry said in a statement. It’s targeted at “rebuilding a sovereign yield curve, providing investment opportunities and restoring market confidence for retail and institutional investors.” Ghana Targets $1.9 Billion as It Returns to Local Debt Market Goldman Team Backs Ghana Cedi With Bond Market Set to Reopen Ghana Cuts Rates Even as War in Iran Poses Inflation Threats The amount to be raised will be decided when the sale starts, said the bond bookrunners Absa Bank Ghana Ltd. , CalBank Plc , Fincap Securities Ltd., GCB Bank Plc, One Africa Securities Ltd. and Stanbic Bank Ghana Ltd. The country targets to raise 20.2 billion cedis ($1.8 billion) this year in seven to 10-year securities, Bloomberg reported earlier this month. Ghana unilaterally suspended most debt payments in December 2022 ...
Wang Zhao Zhejiang province appointed a former national natural-resources inspector as its newest vice governor on Tuesday, marking the latest personnel shift in the leadership of the eastern Chinese economic powerhouse. Wang Zhao, 53, was approved as vice governor during a meeting of the standing committee of the Zhejiang Provincial People’s Congress on March 26, according to the state-run Tide N...
Wang Zhao Zhejiang province appointed a former national natural-resources inspector as its newest vice governor on Tuesday, marking the latest personnel shift in the leadership of the eastern Chinese economic powerhouse. Wang Zhao, 53, was approved as vice governor during a meeting of the standing committee of the Zhejiang Provincial People’s Congress on March 26, according to the state-run Tide News. The committee also accepted the resignations of two outgoing vice governors, Lu Shan and Li Yanyi.
Robert Way/iStock Editorial via Getty Images Introduction I wanted to revisit and give an update on Nvidia Corporation ( NVDA ) as I dug deeper and discovered that it has become a lot more profitable on a fundamental basis and does not trade at a ridiculous valuation. This is quite a different story from the last time I covered it back exactly two years ago, when I said that the expectations were ...
Robert Way/iStock Editorial via Getty Images Introduction I wanted to revisit and give an update on Nvidia Corporation ( NVDA ) as I dug deeper and discovered that it has become a lot more profitable on a fundamental basis and does not trade at a ridiculous valuation. This is quite a different story from the last time I covered it back exactly two years ago, when I said that the expectations were too high, yet I was proven wrong, and the stock skyrocketed another 86% vs. SPY’s ( SPY ) 26%. My stance on NVDA has changed, given the massive demand for AI data centers, making me break my diversification rule over the last few months. Briefly on Performance Now that the company has released its full-year results, let’s have a look at how the revenues progressed. We can see the explosiveness continued throughout the year, unsurprisingly. The company cannot keep up with the ridiculous amount of demand for its chips due to the AI data center craze and the AI race by the five or six hyperscalers out there that continue to put up the money. Seeking Alpha In the latest report , NVDA’s data center revenues still grew a whopping 67% to $193.5B from last year due to the accelerated demand. Graphics cards grew by over 57% as well, to $22.4B. NVDA continues to impress on the top-line performance, and it seems like it is not slowing down one bit. On the profitability end of things, for the full year, NVDA’s margins did not take a massive hit. Gross margins did decrease around 400bps to 71%, but that is still an amazing result considering the pace at which its top line continues to grow. In Q4, the company’s gross margins actually improved to 75%, allowing the company to expand both at scale and profitability. It’s important to look at the unit economics. You would think that the company “sacrificed” 400bps in margins to get sales, but that’s not the case. NVDA sold far more units at still-premium economics. The prices actually increased aggressively in the last year, and the sales s...
Robert Way/iStock Editorial via Getty Images Introduction I wanted to revisit and give an update on Nvidia Corporation ( NVDA ) as I dug deeper and discovered that it has become a lot more profitable on a fundamental basis and does not trade at a ridiculous valuation. This is quite a different story from the last time I covered it back exactly two years ago, when I said that the expectations were ...
Robert Way/iStock Editorial via Getty Images Introduction I wanted to revisit and give an update on Nvidia Corporation ( NVDA ) as I dug deeper and discovered that it has become a lot more profitable on a fundamental basis and does not trade at a ridiculous valuation. This is quite a different story from the last time I covered it back exactly two years ago, when I said that the expectations were too high, yet I was proven wrong, and the stock skyrocketed another 86% vs. SPY’s ( SPY ) 26%. My stance on NVDA has changed, given the massive demand for AI data centers, making me break my diversification rule over the last few months. Briefly on Performance Now that the company has released its full-year results, let’s have a look at how the revenues progressed. We can see the explosiveness continued throughout the year, unsurprisingly. The company cannot keep up with the ridiculous amount of demand for its chips due to the AI data center craze and the AI race by the five or six hyperscalers out there that continue to put up the money. Seeking Alpha In the latest report , NVDA’s data center revenues still grew a whopping 67% to $193.5B from last year due to the accelerated demand. Graphics cards grew by over 57% as well, to $22.4B. NVDA continues to impress on the top-line performance, and it seems like it is not slowing down one bit. On the profitability end of things, for the full year, NVDA’s margins did not take a massive hit. Gross margins did decrease around 400bps to 71%, but that is still an amazing result considering the pace at which its top line continues to grow. In Q4, the company’s gross margins actually improved to 75%, allowing the company to expand both at scale and profitability. It’s important to look at the unit economics. You would think that the company “sacrificed” 400bps in margins to get sales, but that’s not the case. NVDA sold far more units at still-premium economics. The prices actually increased aggressively in the last year, and the sales s...
Highway Holdings ( HIHO ) received a notice from Nasdaq for failing the $1 minimum bid price requirement. The company has 180 days, until September 14, 2026, to regain compliance by maintaining a $1+ share price for at least 10 consecutive days. Highway Holdings may qualify for an additional 180-day extension if it meets other listing requirements. Failure to regain compliance could lead to delist...
Highway Holdings ( HIHO ) received a notice from Nasdaq for failing the $1 minimum bid price requirement. The company has 180 days, until September 14, 2026, to regain compliance by maintaining a $1+ share price for at least 10 consecutive days. Highway Holdings may qualify for an additional 180-day extension if it meets other listing requirements. Failure to regain compliance could lead to delisting, though the company would have the right to appeal. Management may consider actions such as a reverse stock split to restore compliance. More on Highway Holdings Most and least shorted industrial stocks with up to $2B market cap Financial information for Highway Holdings