The National Bank of Ethiopia has introduced a new policy limiting foreign exchange trading spreads to 2%, effective October 16, 2024. This move marks a significant step in Ethiopia’s ongoing economic reforms, aiming to stabilize the currency market and increase transparency in forex transactions. Ethiopia shifted to a market-based exchange rate system in July 2024, […]
Related Posts
Saudi Arabia Embarks on Major Mining Drive
Saudi Arabia is actively diversifying its economy beyond oil, focusing on mining. This shift aligns with the Kingdom’s Vision 2030 goals. Riyadh is issuing exploration licenses, signaling its commitment to the global mining industry. The nation’s rich, untapped mineral resources, including copper, gold, and rare earths, are valued at $2.5 trillion. The Saudi Arabian Mining […]
Brazil’s Industrial Exports See Growth, Surpassing Sweden and Indonesia
Brazil has climbed two spots in global industrial exports, surpassing Indonesia and Sweden, securing the 26th position. The Brazilian manufacturing sector now contributes over 1% (specifically 1.05%) to international trade in these goods, marking a positive shift after a decade of decline. Nevertheless, Brazil still lags behind the top 15 global exporters like Mexico, India, […]