CITY WHISPERS: Electricity firm Bboxx in shock relocation – to Rwanda

The Government’s attempt to ship asylum-seekers to Rwanda has been a hot issue of late. 

But while many are arguing about the policy, one firm has decided to move itself to the East African nation voluntarily.

Bboxx, which aims to provide pay-as-you-go electricity to people across Africa who don’t have ready access to power grids, announced on Tuesday that it would be upping sticks and shifting its global headquarters from London to the capital Kigali. 

Shock move: Bboxx is shifting its global headquarters from London to Rwanda

The group said the move formed part of its plans to train 500 Rwandans and invest $100 million (£80 million) into the country over the next five years as it aims to expand its business tenfold.

One suspects the move might happen a little faster than Rishi Sunak’s plan.

Feng Shui analysis boosts Hong Kong stock market

Saturday will mark the start of the Chinese New Year, ushering in the Year of the Dragon – often considered one of the luckiest animals. 

While many traders would be wary about making decisions based on the position of stars and planets, that didn’t stop Bloomberg TV from asking a researcher from Hong Kong investment manager CLSA to gaze into their crystal ball. 

Predictions from the firm’s ‘Feng Shui analysis’ included that the Hong Kong stock market would see a ‘busy and dramatic year’ and that ‘industries aligned with fire’ would see success over the next two decades. 

What will the tea leaves yield next? 

Boyers forced from Manchester to Dubai 

No shortage of excitement at the Manchester office of Alvarez & Marsal.

The consultancy has hired Jonathan Boyers, one of KPMG’s top rainmakers, to run its corporate finance unit across Europe, the Middle East and Africa.

But after a year’s gardening leave, he will not be taking up the job in Manchester, where he’s done deals for decades, but in Dubai.

‘KPMG is seeking to apply a non-compete clause restricting me from carrying out work relating to Great Britain for a period,’ he lamented on LinkedIn.

Congratulations are in order for another recruit. Former EY partner Victoria Price, who went public this weekend about her relationship with Asda boss Mohsin Issa, will run A&M’s tax practice in Manchester.

Turbulent times for China 

News pages were flooded this week by news that Evergrande, the massively indebted Chinese property developer, had been ordered into liquidation by a Hong Kong judge who proclaimed ‘enough is enough’ two years after the builder first defaulted on its debts.

While observers fretted about the future of the global economy, Air China, the country’s flag carrier, unveiled a profit warning, estimating that it would report a loss of up to £411 million for 2023.

The airline blamed the ‘incomplete recovery’ of travel routes, more intensive competition and oil price fluctuations. 

The turbulence isn’t over yet.

                                                                                                                            Contributor: Patrick Tooher 

This post first appeared on Dailymail.co.uk