By Trixie Sher Li Yap A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/File Photo Purchase Licensing RightsPrices ease after rising close to 10% since the start of the year Markets eye US data releases this week…
By Reuters Ships are seen from a plane window, passing through the Suez Canal, Egypt, March 23, 2024 REUTERS/Mohamed Abd El Ghany/File Photo Purchase Licensing Rights CAIRO, Dec 28 (Reuters) – Egypt said on Saturday it had successfully tested a new 10 km channel near the southern end of the Suez Canal, even as its revenue from…
Bernard Busuulwa The UAE is focusing on increasing foreign direct investment and bilateral trade with Uganda The United Arab Emirates (UAE) is pursuing new business opportunities in Uganda, with at least 20 Dubai-based companies seeking investment deals in manufacturing, real estate, healthcare, technology, oil and gas, textiles and agricultural sectors, despite concerns about the competitiveness…
Staff Writer, Agence France-Presse (AFP) Huge deposits of natural resources — including oil, gas and gold — have pushed the economy of the world’s biggest cocoa producer in a new direction Ivory Coast’s mining industry is booming, driven by foreign investment and the discovery of new deposits, but the country now wants a bigger slice of…
Africa Business Image used for illustrative purpose. Getty Images If you ask people around the world which countries and continents are global leaders in business, most likely you’ll hear the United States, China, and European countries come up. However, a shift appears to be happening: Africa is starting to emerge as a real player in…
The East African The International Finance Corporation (IFC) has given Kenya, Tanzania and the Democratic Republic of Congo (DRC) businesses $2.9 billion in long-term and short-term financing. Mary Porter Peschka, IFC Regional Director for Eastern Africa, said it gave $65 million to fintech platform M-Kopa Holdings in Kenya to expand its financial services to under-banked…
Nigerian Tribune Telecommunications stakeholders have stressed the advantage of collaboration in limiting barriers to national broadband penetration and promoting digital economy. The telecommunications stakeholders spoke at the annual Telecoms Executives and Regulators Forum (TERF) 2023 organised by the Association of Telecoms Companies of Nigeria (ATCON) in Lagos, recently. The Executive Vice Chairman, Nigeria Communications Commission…
By Felix Onuah ABUJA, Aug 28 (Reuters) – Nigeria will seek to encourage investments rather than rely on borrowing to create jobs, Finance Minister Olawale Edun said on Monday, as the new government tries to find a solution to sluggish growth, double-digit inflation and a high debt burden. Edun, 62, who doubles as coordinating minister for…
By Felix Njini and Clara Denina NAIROBI/LONDON Aug 4 (Reuters) – Botswana’s state diamond company is planning to diversify how it sells precious stones to the market as it gears up to receive far more supply under a multi-year deal the country struck with producer De Beers in July. The Okavango Diamond Company (ODC) currently sells 25% of…
By Kopano Gumbi JOHANNESBURG, Aug 1 (Reuters) – South Africa will overshoot its budget deficit target this year due to higher spending on public wages and an expected dip in tax receipts amid sluggish economic growth and lower commodity prices, economists told Reuters. The National Treasury, which has in recent years worked to put South Africa…
