Category: INTERNATIONAL
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Liberia: Gas Goes Up 15 Cents, Fuel Price Steady
The Government of Liberia through the Liberia Petroleum Refining Company (“LPRC”) and the Ministry of Commerce & Industry has announced an increase in the prices of gasoline on the Liberian market. According to a petroleum price circular issued by the government, the retail pump price for a gallon of gasoline has increased from US$3.01 or…
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Nigeria: Presidency Explains Current Status of Social Investment Programmes
As the Buhari administration proceeds with the implementation of its Social Investment Programmes, the Federal Government has now released over N375 million this year to feed almost 700,000 primary school pupils in 5 states, while virtually all states of the federation, except two, are now being processed for the payment of N30,000 monthly stipends to…
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Uganda: Oil Cash Payout Leaves Government Arms Bickering
Separation of powers. These three words have dominated political chatter this week. How should the three branches of government share power? Where is the red line that must not be crossed? What amounts to interference by one government power centre into the work of another? These are the questions that kept keen observers second guessing…
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Egypt: Unemployment Rate Among Women Exceeds 25 Percent – Labour Minister
Minister of Labour Mohamed Saafan said in press statements on Thursday that the unemployment percentage among women exceeds 25%, “which is unprecedented.” He also stressed on the importance of increasing efforts to overcome this plight. Moreover, Saafan said that as Egypt embarks on the “year of women,” there should be significant change in increasing women’s…
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AB InBev offers voluntary severance in South Africa
Anheuser-Busch InBev, the world’s largest brewer, has offered more than 1,000 employees in South Africa voluntary severance following its merger with SABMiller, the Business Day newspaper reported on Monday, citing an internal memo. AB InBev bought nearest rival SABMiller for 79 billion pounds ($98.23 billion) last year in one of the largest corporate mergers in…
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Nigeria ratifies the Trade Facilitation Agreement
Nigeria has ratified the Trade Facilitation Agreement (TFA), making it the 107th World Trade Organisation (WTO) member to do so. Only three more ratifications from members are needed to achieve the two-third threshold that will bring the TFA into force. Nigeria’s instrument of acceptance was submitted to the WTO today by the Minister for Industry,…
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Mozambique default on eurobond was unnecessary
Mozambique’s default on a coupon payment for its dollar-denominated bond last week was “unnecessary” and a step backwards for the country’s relationship with the holders of the debt, a group of creditors said in a statement on Monday. Mozambique announced a week ago it would not make the $59.8 million payment to holders of its…
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Ethiopian to Open Seven New Destinations
Ethiopian Airlines, Africa’s largest airline group, announces that it will launch seven new destinations in five months time. This is one of the greatest expansions in Ethiopian’s long and illustrious history. In a press release, Ethiopian said it would launch new service to Victoria Falls (Zimbabwe), Antananarivo (Madagascar), Conakry (Guinea), Oslo (Norway), Chengdu (China), Jakarta…
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Kenya: Emirates to Launch 3rd Daily Flight to Nairobi
Emirates has announced that it will introduce a third daily flight between Dubai and Kenya’s capital from 1st June 2017. The additional flight will increase the number of scheduled Emirates flights between the two cities to 21 a week and give customers greater flexibility and choice when planning their travel. Emirates says the Nairobi route…
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Nigeria: Naira Defies Liquidity Boost, Depreciates Further Against Dollar
The Naira on Thursday remained indifferent to the sale of over $250 million to licensed Bureau De Change (BDC) operators nationwide as it suffered another loss against the dollar. The News Agency of Nigeria (NAN) reports that the Naira inched against the dollar at the early hours of Thursday morning by 2 points but could…