Category: INTERNATIONAL
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Kenya:SMEs shun banks, turn to family for start-up cash
Majority of small businesses in Kenya consider commercial banks as inappropriate sources of finance, choosing instead to use family resources as start-up or growth capital, a newly released report says. The Kenya National Bureau of Statistics (KNBS) says in a newly-released report that 80.6 per cent of establishments use family or own funds as the…
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Nigeria: Dangote Tops Nigeria’s CSR Performers As Arik, Multichoice, Dana Emerge Worst
Dangote Group has emerged Nigeria’s best Corporate Social Responsibility (CSR) company in 2016, a survey by Governance Advancement Initiative for Nigeria (GAIN) has shown. Dangote was the adjudged overall winner among 25 Nigerian and multinational companies operating in the country, scoring 6.3 per cent, followed by Nestle with 5.51 per cent and Etisalat with 5.45…
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Kenya:NSE-listed Atlas doubts return to London bourse after suspension
Nairobi Securities Exchange-listed Atlas African Industries says it is doubtful of a return to the London Stock Exchange where it was suspended on October 17 following the resignation of its nominated adviser (Nomad). The company also halted trading on the NSE’s Growth Enterprise Market Segment (GEMS) the next day, making the stock illiquid for existing…
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Venezuela’s food prices skyrocket as people go hungry
Earlier this year, Venezuelans suffered through acute food shortages. Now food is starting to reappear on more and more supermarket shelves. But the prices are prohibitive for almost everyone. “The prices are really really high…people are just shocked by the price increases,” says Alejandro, a 24-year old who works at a law firm in Maracaibo,…
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Failure of EU free trade deal would leave Canada stranded
The looming failure of free trade talks with the European Union would derail Canada’s push to reduce its dependence on the United States and potentially complicate negotiations with other nations, such as India and China. The EU’s hopes of signing the pact this week appeared to evaporate on Monday as the Belgian federal government failed…
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Netflix CEO gives conditional approval of AT&T-Time Warner deal
Netflix Chief Executive Reed Hastings said he was in favor of AT&T Inc’s planned $85.4 billion acquisition of Time Warner Inc, provided that his popular media streaming company continued to be treated fairly. Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Hastings said it was critical that Netflix’s…
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Japan shares hit six-month top, U.S. dollar in demand
Japanese shares hit a six-month top on Tuesday as the dollar advanced on the yen, while risk sentiment got a lift after factory surveys in the United States and Europe boasted the best readings of the year so far. There were also tentative hopes rising prices for steel and some industrial commodities – zinc surged…
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Twitter plans to cut about 300 more jobs: Bloomberg
Twitter Inc (TWTR.N) may cut 8 percent of its workforce or about 300 people, Bloomberg reported on Monday, citing people it said were familiar with the matter. The job cuts could be announced before the company reports third-quarter earnings on Thursday, and the number of jobs affected could change, Bloomberg said. (bloom.bg/2dErHcF) A company spokeswoman…
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Zimbabwe: Chinese National Fined for Selling Zim Flags
A Chinese businessman was yesterday fined $20 for selling Zimbabwe national flags without authority. Weidong Li (28), who operates a retail shop at the Gulf Complex in Harare’s Kopje area, pleaded guilty to contravening the Flag of Zimbabwe Act when he appeared before Harare magistrate Mr Tendai Mahwe. Mr Mahwe fined Weidong or five days…
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Nigeria: Why APC Accepts Responsibility for Nigeria’s Economic Downturn – Governors
The All Progressives Congress on Monday said the lingering economic crisis in the country should no longer be blamed on the 16-year streak of the Peoples Democratic Party, PDP. The party said it could no longer continue to blame past administrations for the enormous hardship Nigerians are grappling with. The party’s new position was disclosed…