Category: INTERNATIONAL
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Sudan: Investment Minister Welcomes Tunisian Traiki Investment Group
The Minister of Investment Dr. Mudathir Abdul-Ghani Abdul-Rahman reviewed, when he met with the Tunisian Traiki Investment Group’s delegation Tuesday, investment opportunities in the country The minister pointed to the advantages and incentives granted to investors including exemptions from customs, simplification of procedures and the guarantees offered by the Investment Law, adding that the investment…
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Zimbabwe has failed to sate the yearning for land and to fix rural hunger, this is why
Almost 40 years after its independence, land reform remains at the heart of Zimbabwe’s political and economic challenges. But perhaps more than any other issue in Zimbabwe, it has historically been met with inertia from government and the international community. Governments throughout the world have found difficulty devising economically successful land tenure models that incorporate…
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Burundi edges closer to the abyss
Burundi’s President Pierre Nkurunziza was hardly a household name. That was before he turned his country into a hellhole following his unconstitutional decision in 2015 to run for a third term. Burundi is an overpopulated and immensely corrupt state. It shares much the same ethnic map as Rwanda. But it hardly attracted a fraction of the…
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Nigeria’s President Buhari delivers $24 billion budget for 2017
Nigeria’s President Muhammadu Buhari on Wednesday presented a record 7.298 trillion naira ($24 billion) budget for 2017 to lawmakers which is aimed at pulling Africa’s biggest economy out of its first recession in 25 years. The budget, which Buhari said marked an increase of 20.4 percent on last year’s spending plan, seeks to boost spending…
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S.Africa’s Eskom to invite bidders for nuclear power fleet this week
South African power utility Eskom will this week issue a request for proposals to add 9,600 megawatts of nuclear power to the national grid, acting chief executive Matshela Koko said on Tuesday. Koko was speaking to reporters on the sidelines of a court case in Cape Town where environmentalists and clean energy activists are challenging…
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Nigeria: How Govt, CBN Policies Cripple Activities At the Nation’s Ports
The recent hike in the import duties of vehicles and rice as well as the introduction of a fish quota system by the administration of former President Goodluck Jonathan are taking a toll on activities at the nation’s ports, THISDAY investigation has revealed. Also, the restriction of 41 items from accessing the official foreign exchange…
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Uganda: A Kilogramme of Sugar Hits Shs5,000
The price of a kilogramme of sugar has hit Shs5,000, making it hard for the ordinary people to consume it at the time when the economy is suffering low activity. The kilogramme of sugar has jumped by Shs1,500 from Shs3,500 that has sparked fear that prices of other products such as bread, whose ingredients include…
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Bill Gates, investors launch $1 billion clean tech fund
Microsoft co-founder Bill Gates and a group of high-profile executives are investing $1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. Gates launched the Breakthrough Energy Ventures fund on Monday along with billionaire entrepreneurs such as Facebook Inc (FB.O) head Mark Zuckerberg,…
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Fed gives banks five years to comply with Volcker Rule limits
The Federal Reserve Board laid out on Monday how U.S. banks can apply to take five more years to comply with the Volcker Rule, a reform emerging from the 2007-09 financial crisis that has received some of the harshest criticism from Wall Street. The rule, intended to keep banks from speculating with their customers’ money,…
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UniCredit to raise $13.8 billion in Italy’s biggest share issue
Italy’s largest bank, UniCredit, unveiled plans on Tuesday to raise 13 billion euros ($13.8 billion) in the nation’s biggest share issue, to shore up its balance sheet and distance itself from Italy’s broader banking crisis. Its gambit comes at a troubled time for Italian banks and the economy, with Monte dei Paschi di Siena at…