Category: INTERNATIONAL
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Githu seeks tough penalties for in-flight offences
Unruly passengers on board flights that land in Kenya’s airports will face prosecution and other tough sanctions if Parliament ratifies a new protocol amending the Convention on Offences and Certain Other Acts Committed on Board Aircraft. Airlines will have the right to, and may seek compensation from, unruly passengers for costs incurred as a result…
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For AT&T, Time Warner was always on the menu
When Time Warner Inc’s (TWX.N) Jeff Bewkes welcomed AT&T Inc’s (T.N) Randall Stephenson for lunch at Time Warner Center in New York in late August, their meeting was supposed to be one of the catch-ups the two chief executives have had over the years. And it certainly started that way, with the two men chatting…
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Major banks mark first-ever international trade using blockchain tech
The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, resulting in a shipment of cotton to China from the United States. Australian cotton trader Brighann Cotton Marketing bought the shipment bound for the port city Qingdao from U.S. division…
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Oil prices drop as Iraq says doesn’t want to join OPEC cut
Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and as U.S. drillers stepped up work. Brent crude futures LCOc1 were trading at $51.59 per barrel at 0133 GMT, down 19 cents, or 0.4 percent,…
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UK banks fear public, politicians set against them on Brexit
For decades, Britain’s bankers have relied on their industry’s outsized status in the economy to find a receptive ear in government. But in the aftermath of the country’s vote to leave the European Union, the sector that generates about a tenth of national economic output is grappling with an uncomfortable new reality where economics doesn’t…
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Nigeria: Innoson, Chinese Consortium to Invest U.S.$1 Billion in Nigeria
Innoson Group is partnering with a consortium of Chinese investors to pump in $1billion into Nigeria’s Information and Communication Technology (ICT) sector. According to Innoson Group, the investments include $400 million, which will be invested in Nigeria’s Digital Switch Over (DSO) project in digital satellite TV station, and an additional $600 million covering other important…
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Egyptian President Sisi’s Approval Ratings Drop 14 Per Cent – Poll
Egyptian President Abdel Fattah al-Sisi’s approval rating dropped 14 per cent over the course of two months, according to a new poll conducted by the Egyptian Center for Public Opinion Research (Baseera). Baseera’s poll shows that, while 82 per cent expressed their approval of the president’s performance around two months ago, only 68 per cent…
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Rwanda-Morocco Housing Project Construction Kicks Off Early 2017
Construction of affordable housing units by the Development Bank of Rwanda (BRD) and Palmeraie Development Group is set to kick off early next year, following the signing of a partnership agreement during the visit of King Mohammed VI of Morocco last week. The agreement sealed a partnership between the two bodies to develop 5000 affordable…
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MTN CEO start date sooner, suspends Nigeria dividend payout
MTN Group’s next chief executive will take over three months ahead of plan, the South African telecoms company announced on Monday, as the firm faces allegations it illegally moved $14 billion out of Nigeria. Rob Shuter, Vodafone European boss, was due to start in July next year but MTN said in a statement accompanying its…
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Kenya:Only 10pc of development budget spent with a quarter of year gone
Only 10 per cent of Kenya’s development budget has been spent with a quarter of the year gone in what could affect completion of projects and economic growth. Data from the Treasury shows that by the end of September, a total of Sh41.8 billion had been spent on development against the annual budget of Sh416…