Category: INTERNATIONAL
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Nigeria: Oil Output Nearly Back to Normal – Govt
Nigeria’s oil production is nearly back to normal following a sharp drop earlier this year due to rebels attacking pipelines, the oil minister said Tuesday. “The reality is that as of today and this morning, we are at 2.1 million barrels production. That’s substantial,” Minister of State for Petroleum Emmanuel Kachikwu said in the nation’s…
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Nearly half Kenya’s banks handled NYS Sh1.6bn dirty cash
Nearly half of Kenya’s banks handled the hundreds of millions of shillings that were stolen from the National Youth Service (NYS). The Financial Reporting Centre (FRC) reckons that 15 of Kenya’s 41 banks raised 42 alerts over suspicious transactions relating to the Sh1.6 billion that was stolen through fictitious tenders. The Central Bank of Kenya…
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Nigeria: El-Rufai Announces Waiver for $50 Million Investment in Manufacturing, Agro-Allied
The Governor of Kaduna State, Mallam Nasiru El-rufai has disclosed that his administration would grant waiver to investors willing to put down $50m in the industrial/ manufacturing and Agro-Allied sectors that would lead to the creation of 2000 jobs in each sectors. The governor who stated this in Abuja yesterday at the opening ceremony of…
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Kenya:Kabura took out sacks of cash without security
Embattled businesswoman Josephine Kabura was on Tuesday at pains to explain her dealings with the National Youth Service (NYS), including the withdrawal of more than Sh100 million in cash from a bank without security arrangements. The withdrawals were made in March 2015 from an account held by Roof and All Trading — one of Ms…
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Egypt’s Supply Ministry Raises Subsidised Sugar Prices By 40 Pct. Amid Shortage
Egypt’s supply ministry decided to raise the price of subsidised sugar by 40 percent from EGP 5 to EGP 7 per kg as of Tuesday amid a sugar shortage, a ministry official said. The official who chose to stay anonymous told Aswat Masriya that the ministry has decided to unify the price of sugar sold…
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South Africa doing well if you strip out growth says Moody’s
South Africa measures favourably in most indices bar economic growth, which the Treasury has forecast will be 0.5 percent this year, a Moody’s representative said on Tuesday. “South Africa is doing relatively well in a lot of the indices when you strip out growth … and when we look at a sovereign rating you’ve got…
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U.S. airlines expect busier travel this Thanksgiving
More travelers will fly on U.S. airlines around the Thanksgiving holiday this year than last, a trade group said on Wednesday. U.S. carriers are expected to fly 27.3 million passengers worldwide from Friday, Nov. 18, through Tuesday, Nov. 29, up 2.5 percent from a year earlier, Washington-based Airlines for America said. The Sunday after Thanksgiving…
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U.S. manufacturing sector expanding, but risks remain
U.S. factory activity increased for a second straight month in October amid a pickup in production and hiring, supporting views that the embattled manufacturing sector would regain some momentum in the fourth quarter. The Institute for Supply Management (ISM) on Tuesday said its index of national factory activity rose 0.4 percentage point to a reading…
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Exclusive: Brazil prosecutor investigates funds’ investment in Trump Hotel Rio
A Brazilian prosecutor has opened a criminal investigation into investments made by two state pension funds in a luxury Rio de Janeiro hotel that is part of the Trump franchise, according to a court filing reviewed by Reuters on Tuesday. The 130 million reais ($40 million) investment by the two small funds in the hotel’s…
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Stocks, dollar roiled by tightening U.S. election race
Asian shares tumbled to seven-week lows and the dollar lost ground against the yen and the euro on Wednesday as investors were rattled by signs the U.S. presidential election race was tightening just days out to the Nov. 8 vote. Markets were beginning to rethink their long-held bets of a victory for Democratic candidate Hillary…