If you are one of the 188 Vestact clients who own Naspers, I am sure you're very pleased about its recent share price rally. The stock is up 30% so far this year and has nearly quadrupled since the lows of 2022. The key driver, of course, has been the rise in the value of its investment in Tencent, but the new CEO, Fabricio Bloisi, has also been very impressive.

Hailing from Brazil, Bloisi founded Movile (they own iFood) when he was 21 and ran the mobile tech firm until 2020. Prosus started investing in Movile in 2013 and in 2022 purchased the whole of iFood. Naturally, Bloisi came across with iFood and ran the division until he was hired as CEO of the Naspers/Prosus group last year.

A few weeks back he wrote a letter to shareholders that covers his first year in charge. He has achieved a lot already. Fabricio is young, entrepreneurial and comes with fresh ideas, we look forward to more successful years with him at the helm.

Nvidia has had a great week, rising from $116 to $135 per share. The rally is partly due to easing trade relations between the US and China. Perhaps more importantly, Saudi Arabia and the UAE have been given the green light from the White House to purchase billions of dollars worth of Nvidia chips. Currently, there are export restrictions on the most powerful Nvidia cards because of supposed "national security" concerns.

The Saudis want to turn themselves into a regional hub for data centres and will buy more than 18 000 Nvidia chips over the next five years. They want to build massive data centres in the desert because of 'Sovereign AI'. The theory is that AI is going to be so central to life going forward that you don't want to outsource this capability to other nations.

Having a new set of deep-pocketed clients is great news for Nvidia. The extra chip sales will bolster sales on top of the already strong demand from the US tech giants.

Nestle is trying to offload its high-end bottled water business, which includes names like Perrier and SanPellegrino, in a spin-off that could fetch up to EUR5 billion. The Swiss food giant has tapped Rothschild for advice, with private equity outfits already reportedly circling the asset.

It's all part of CEO Laurent Freixe's strategy to trim the fat and focus on the heavy hitters. Nestle owns 2 000 brands (yes, really), but wants to narrow that to about 30. The big ones are Nescafe, Purina, Kit-Kat, and baby formulas like Lactogen.

If you sampled one Nestle brand a day, you'd still be taste-testing five and a half years later.

In Nestle's world, the bottled water business, despite being premium and profitable, is a drop in the ocean compared to higher-margin, fast-growing segments like coffee, pet food, and health nutrition.

Oil has created immense wealth in the Gulf States. Even their scrap yards are different - Exploring the supercar junkyards of Dubai.

F1 has been around for 75 years. It's now a multi-billion-dollar industry with 24 races across the globe - Racing: a visual journey.

Asian markets were mixed this morning. Chinese indices slipped after Alibaba shares fell by 6% in Hong Kong because the company's quarterly revenue came in below expectations. Oh dear.

In local company news, Karooooo reported a 33% jump in adjusted earnings per share for the year to end-February. Flagship subsidiary Cartrack contributed a solid 19% lift in operating profit. Subscriber growth also impressed, up 17% to 2.3 million.

The US Dollar is looking wobbly, so the Rand is back at R18.00. S&P Global Ratings is scheduled to release a review on South Africa today. It currently assesses its long-term foreign currency debt at BB-, three notches below investment grade, with a positive outlook.

US equity futures are marginally higher in early trade. It's been a good week, so let's hope we can maintain the momentum and finish strong.

Enjoy the weekend, you deserve it.