Category: INTERNATIONAL
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Asia shares recover losses, markets await Trump news conference
Asian shares rose to two-month highs on Wednesday as investors looked to President-elect Donald Trump’s news conference later in the day for clues on his policies on taxes, fiscal spending, international trade and currencies. While Trump’s election campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, his protectionist…
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Europe:Theresa May is failing Brexit Britain
When Theresa May appeared on the steps of Number Ten in her first address as Prime Minister, she seemed like a sudden moment of serenity in a chaotic post-Brexit Britain. She had reassuringly grey hair for a start. Her predecessor, David Cameron, had been just 43 when he took office. Tony Blair had also been…
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Israel halts $6m to UN to protest UNSC settlements vote
Israel says it is cutting a substantial amount in its annual dues to the United Nations this year in protest of last month’s Security Council resolution condemning Israeli settlement activity on occupied Palestinian territories. The announcement made by Israel’s UN Mission on Friday stipulated that $6 million out of more than a regular $40 million…
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Middle East: UAE to invest $163bn in renewable-energy projects
The United Arab Emirates has announced plans to invest $163bn in projects in a bid to generate almost half the country’s power needs from renewable sources. The UAE is a top oil exporter, but has taken steps to reduce its dependency on fossil fuels to generate power, including building nuclear facilities. “Our aim is to…
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US trade deficit climbs to $45.2 billion in November
The U.S. trade deficit in November rose to the highest level in nine months. Imports of oil and other foreign goods increased, while American exports fell for a second month. The Commerce Department says the trade deficit jumped 6.8 percent to $45.2 billion, the largest imbalance since February. Exports edged down 0.2 percent to $122.4…
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U.S:Trump’s trade policy is ‘economic equivalent’ to denying climate change, Larry Summers says
Democratic economist Larry Summers on Tuesday blasted an analysis published by top Donald Trump advisors touting the benefits of the president-elect’s trade proposals. The analysis was a policy paper authored by Wilbur Ross, the billionaire investor Trump picked for Commerce secretary, and Peter Navarro, the economics professor Trump chose to head the new White House…
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Algeria: Focus On Sub-Contracting in 2017
“The year 2017 will be that of subcontracting,” Industry and Mines Minister Abdeslam Bouchouareb said Thursday in Setif. The minister also recalled the numerous incentives included in 2017 Finance Act to investors in the subcontracting sector. Paying an inspection visit to a tire production unit under construction in Setif industrial zone, the minister stressed that…
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Tanzania: JPM’s Policies May Hurt Economy – IMF
The International Monetary Fund (IMF) says some government policies and the uncertainty of its actions could dent Tanzania’s record of a stable economic growth achieved in recent years. According to the IMF, President John Magufuli’s approach to the management of the economy faces four key challenges with a risk of undermining the country’s macroeconomic stability.…
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South Africa: Presidential Housing Project Bogged Down in Corruption and Fraud
A 2010 presidential project intended to house shackdwellers in the south of Johannesburg is mired in corruption and wholesale land theft, with hundreds of residents cheated out of houses they paid for. Those who have attempted to get to the bottom of the theft have been threatened and, in one case, kidnapped. GroundUp spoke to…
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Nigeria: Dangote Cement, Others Lift Stock Market By 1.25 Percent
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 1.25 per cent yesterday as highly capitalised stocks led by Dangote Cement Plc lifted the market. After depreciating for the first three days in 2017, the market had last Friday rebounded. And when trading resumed for the second week of the year, tuesday, the uptrend was…