Category: INTERNATIONAL
-
Oil prices firm as Abu Dhabi cuts exports amid soaring Asian demand
Oil prices were stable on Tuesday, supported by strong demand in Asia and a supply cut by Abu Dhabi as part of production curbs organized by OPEC and other exporters. But traders said the market was being pressured by investors closing financial positions that profited from strong gains the day before. International Brent LCOc1 and…
-
Asian shares, dollar wobble as investors brace for Fed outcome
Asian shares and the dollar were on tenterhooks on Tuesday as the Federal Reserve prepared to review rates later in the day, with financial markets focused on how the Fed steers monetary policy in the wake of Republican Donald Trump’s surprise election win last month. Crude oil prices pulled back after their surge to 18-month…
-
Nigeria: Govt Launches N13 Billion Mortgage Loan Scheme for Workers
The federal government yesterday launched a N13 billion Federal Civil Servants Mortgage Loan Refinancing Scheme powered by the Nigeria Mortgage Refinance Company Plc (NMRC). Speaking at the launch in Abuja, the minister of Finance, Mrs. Kemi Adeosun, said 5,635 Federal Civil Service staff would benefit at the first instance. She said the scheme was a…
-
Tanzania: Mtwara Port Buoyed Up By Arrival of Dangote Trucks
Regional authorities are upbeat over the prospects of increased business and revenue after 1,115 trucks imported by Nigerian business mogul Aliko Dangote docked at the Mtwara Port at the weekend. “This is a good beginning as we open up economic opportunities for the region,” said Acting Regional Commissioner Khatibu Kazungu who witnessed the docking of…
-
Uganda: Parliament Delays Debate On Loans Over ‘Rot in Roads Sector’
As the curtains close down on the first calendar year of the 10th Parliament, a marking guide on the formative stages of the House would give good grades to the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) over its crackdown on thieving agencies. As one of the four accountability committees of the House,…
-
Oil deal will stick as ‘everybody is hurting’ – Nigeria’s oil minister
As OPEC and non-OPEC nations agreed to jointly cut oil production in a landmark global pact on Saturday, Nigeria’s oil minister told CNBC he believed there is more than enough incentive for all involved to adhere to the deal. Eleven oil producing countries, that are not members of OPEC, said on Saturday they are to cut production by…
-
South Africa’s FinMin says economic recovery is underway
Improved electricity supply, an easing drought and a depreciation of the rand currency are underpinning a recovery in the South African economy, Finance Minister Pravin Gordhan said on Monday. Gordhan’s comments echo the view of analysts who in a Reuters poll published last week forecast that rising commodity prices would also provide a fillip to…
-
Zimbabwe: RBZ, Sakunda Seal Fuel Import Deal
The Reserve Bank of Zimbabwe has sealed a deal with local petroleum giant Sakunda Holdings that will see the firm supplying the country with 160 million litres of fuel to ensure adequate supplies during the festive season. The deal, which became effective at the beginning of this month, was hammered under a structured facility in…
-
Nigeria: President Buhari – 2017 Budget Will End Recession
President Muhammadu Buhari has expressed confidence that the 2017 budget proposals which he will lay before the National Assembly on Wednesday would get the nation “out of its economic woes.” President Buhari in his 2016 Eid el-Maulud message to the nation yesterday said: “As we use the memorable occasion of this celebration to reflect on…
-
Nigeria: CBN Discovers Over N2 Million Counterfeit Notes in Kano
The Central Bank of Nigeria (CBN) has disclosed that from January to November 2016 financial year; the Central Bank has discovered, N2,97120.00 counterfeit currency notes in circulation in Kano State as against N2, 101,400.00 discovered in 2015. This was disclosed by the CBN branch controller Kano State, Mrs. Abubakar Ameena Pindar during the 2015/2016 Kano…