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African fintech firm Flutterwave eyes U.S. listing after raising $170 million

Africa-focused payments company Flutterwave could consider a New York listing, its chief executive said after it raised $170 million from investors to expand its customer base, pushing its valuation up to more than $1 billion.

Founded in 2016 by Nigerians and headquartered in San Francisco, the company specialises in individual and consumer transfers.

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Alibaba Plans Up to $5 Billion Bond Sale

Alibaba Group Holding Ltd. plans to sell billions of dollars of bonds, in what will be a test of investor appetite after the e-commerce giant’s recent run-ins with Chinese authorities.

In a brief statement late Tuesday, Alibaba said it planned to issue dollar debt, including some bonds to fund sustainability-related projects, subject to market conditions. It said the deal’s total size hadn’t been fixed, nor had the bonds’ maturities, interest rates or other terms.

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China's ByteDance seeks $60 billion TikTok valuation in U.S. deal: Bloomberg News

China's ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp ORCL.N and Walmart Inc WMT.N take stakes in the short-video app's business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.

Oracle will take a 12.5% stake in TikTok Global and store all its U.S. user data in its cloud to comply with U.S. national security requirements, the companies said on Saturday. Retail giant Walmart said it would take a 7.5% stake.

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Net short dollar positions fall to $30.90 billion in latest week

Speculators reduced their net short dollar positions in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

The value of the net short dollar position fell to $30.90 billion in the week ended Sept. 15, compared with a net short of $32.67 billion the previous week.

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Ghana economy contracts for the first time in nearly four decades

Ghana’s economy contracted for the first time in almost four decades in the second quarter, by an annual 3.2%, hit by the fallout of the coronavirus pandemic, the statistics office said on Wednesday.

The gold-, oil-, and cocoa-producing West African nation imposed a three-week lockdown at the start of the pandemic in March, leading to the shutdown of numerous businesses, government statistician Samuel Kobina Annim told a news conference.

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