Category: INTERNATIONAL
-
Kenya:Ministry of Energy officials get fresh power to dish out energy contracts
Ministry of Energy officials are set to get sweeping powers to award multi-billion shilling electricity generation contracts to investors in an impending policy shift that is intended to yield lower consumer tariffs, but is also fraught with the risk of conflict of interest. New draft regulations expected to come into force in three months’ time…
-
Nigeria: High Fish Feed Prices Forcing Lagos Farmers Out of Business
Fish farmers in Lagos State are presently leaving the business due to the increase in the price of fish feeds in the state. The prices, according to the farmers, have gone up by as high as 80 to 100 percent and that was forcing some of them to abandon their farms in search of other…
-
Nigeria: State Loses Another N90 Billion to Attacks in Niger Delta
The revenue allocation to federal, states and local governments for September dropped by about N90.27 billion, as they shared a total of N420 billion for the month. About N510.2 billion was shared at the Federation Account Allocation Committee (FAAC) meeting in August. The permanent secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, said the total revenue…
-
Kenya:Saccos cut interest rates to retain edge over Kenyan banks
Savings and Credit Co-operatives (Saccos) are reducing loan rates to retain their competitive edge after banks were forced to cut price of lending in line with the new interest capping law. Their pricing, which has long kept interest rates at an average 12 per cent per annum (far below bank rates) has been their biggest…
-
Egypt’s Transportation Ministry Turns to Solar Energy
Egypt’s Ministry of Transportation said on Monday that it will use the roofs of government buildings and affiliated agencies to establish solar power stations. Egypt has been taking measures recently to diversify sources of energy, in a bid to face increasing demand. In a statement, the ministry said that above-ground metro stations will be among…
-
Kenya:Uhuru launches Sh5.3 billion dual carriageway project
President Uhuru Kenyatta Thursday launched the Sh5.3 billion roadworks to dual the Athi River-Machakos section of Mombasa Road as he led the country in celebrating this year’s Mashujaa Day. China Railway 21st Bureau Group is constructing the 20km dual carriageway – the latest of the multi-billion shilling infrastructure projects Mr Kenyatta has launched in recent…
-
Algeria: Revised Investment Bill to Help Algeria Attract More FDI, Says IMF
The revision of Investment Bill will help Algeria to attract an important flow of Foreign Direct Investment, forecast the International Monetary Fund (IMF). In its report on the prospects of growth for the region of Middle-East, North Africa, Afghanistan and Pakistan (Moanap), the Fund said that the countries like Algeria, Saudi Arabia or Qatar which…
-
S.A: This is what S&P will be looking for in S.A’s mini-budget
When Standard & Poors gave South Africa a stay of execution in June, they cited three factors that would result in a ratings downgrade in December. First and foremost, their key long-term measure is the country’s growth rate, which would need to show improvement. On this point, growth has picked up somewhat, but not nearly…
-
Millions of Indian debit cards ‘compromised’ in security breach
A number of major Indian banks are taking safety measures amid fears that the security of more than 3.2 million debit cards have been compromised. Some of the affected banks have been asking their customers to change security codes. They are also blocking and replacing debit cards. The breach is thought to have been caused…
-
Samsung ‘blocks’ exploding Note 7 parody videos
Samsung appears to have filed copyright claims against YouTube videos mocking its recalled Galaxy Note 7 handset. Many gamers have showcased a modification to video game Grand Theft Auto V, in which sticky bombs were switched with exploding Samsung phones. But some have reported that their videos have been blocked on YouTube following a copyright…