Category: INTERNATIONAL
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Kenya: KQ pilots in fresh threat to down tools over top management
Kenya Airways’ (KQ) pilots have issued a seven-day strike notice, stating that they will cripple operations at the airline if its chief executive Mbuvi Ngunze and chairman Ambassador Dennis Awori do not resign for alleged mismanagement. The Kenya Airline Pilots Association (Kalpa), a body made up of about 450 pilots, says their members will down…
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SA:Disappointment for Kenyan travellers as SA maintains visa rules
Kenya and South Africa have inked deals in military and police cooperation as well as agreeing to jointly invest in the Lamu Port South Sudan-Ethiopia Transport (Lapsset) corridor even as the country remained non-committal on easing visa restrictions for Kenyans. South African President Jacob Zuma, who is on three-day state visit to Nairobi, however said…
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Nigeria: Amcon Ordered to Pay Capital Oil N26 Billion
Asset Management Corporation of Nigeria (AMCON) has been ordered to pay Capital Oil and Gas Limited the sum of N26bn as contained in the consent judgment delivered by a Federal High Court. Justice Abdul Kafarati of the Federal High Court sitting in Abuja gave this order yesterday saying the court has powers to enforce its…
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Kenya:Samsung targets low-end market with new Z2 smartphone
Electronics manufacturer Samsung has changed gears in its strategy for the Kenyan market with the launch of an entry level smartphone. Samsung on Thursday officially launched the Z series device in Kenya, available for sale through Safaricom and its dealer network. The device, retailing for Sh5,999, is targeting first time smartphone owners who are making…
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Kenya:British investors eye lucrative deals in energy sector
British investors are eyeing multi-billion shilling investment opportunities in Kenya’s renewable energy sector comprising of steam, wind, biomass, and solar power projects. A delegation of British investors visited Nairobi this week where some initiated talks with both the government and potential partners. London-based Equinox Energy Capital, for example, is in talks with the Energy ministry…
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Can the UK take over existing EU trade agreements?
Building British trade outside the EU is a priority for Theresa May’s government, so existing deals could be a useful starting point to any negotiation. But could the UK take over existing trade agreements the EU has with other countries, under “grandfather rights”, the phrase for allowing old rules to continue to apply amidst new…
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Algeria: Cereals – Drop in Import Bill in First 8 Months
The import bill of cereals (wheat, maize and barely) decreased by more than 23% during the first eight months of 2016 while imported quantities declined for soft wheat only, Customs told APS. The import bill of cereals decreased to nearly USD 1.8 billion during the first eight months of 2016 against USD 2.33 billion in…
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Ethiopia to overtake Kenya as Eastern Africa’s top economy
Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure that has kept the Horn of Africa nation in the list of the world’s fastest economies in the past 10 years. The International Monetary Fund’s (IMF) latest statistical estimates indicate that Ethiopia’s gross domestic product (GDP) is forecast to…
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Nigeria: Parliament Probes N65 ATM Charges, Other Bank Transactions
The House of Representatives on Thursday condemned the ‘spurious charges’ levied on Nigerians when they initiate ATM transactions outside their domiciliary banks. The parliament, in a motion supported by the majority, said Nigerians have lost significant sum of money to bank operators with little or no checks by the Central Bank of Nigeria. The CBN…
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US:President Obama praises US ‘fiscal cliff’ deal
US President Barack Obama has hailed a deal reached to avert a “fiscal cliff” of huge tax rises and spending cuts. After the House of Representatives passed the bill by 257 votes to 167, Mr Obama said the measures were “just one step in the broader effort to strengthen the economy”. It raises taxes for…