Category: INTERNATIONAL
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Nigeria: Army Destroys 143 Illegal Refineries in N-Delta
The Nigerian Army destroyed 143 illegal refineries during its Operation Crocodile Smile in the Niger Delta region, Brigadier-General Hassan Hamisu has said. Similarly, the Nigerian Navy said that it has arrested four crude oil thieves who specialize in illegally refining crude oil into automotive gas oil, AGO, while 85 large drums of AGOs were destroyed…
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Congo republic govt sees 2017 GDP growth rising to 3.4 pct
Congo Republic plans to cut its budget by 24.3 percent in 2017 to 2.74 trillion CFA francs ($4.7 billion) as it reins in public spending following this year’s presidential election, the government said late on Friday. Nevertheless, the government expects GDP growth to rise from 2.6 percent this year to 3.4 percent next year thanks…
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Egypt: Dozens of Lawyers Gather in Demonstration Against VAT Law
Dozens of lawyers gathered on Saturday in a demonstration in front of Egypt’s High Court in protest against the recently-passed value-added tax (VAT) law. Head of the lawyer’s syndicate Sameh Ashour said in a statement on Tuesday that the syndicate “rejects” the law as it “violates technical, scientific and legal standards applied in all countries”.…
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Qatar is losing billions on Deutsche Bank
Investors are hurting from Deutsche Bank’s share price collapse, none more so than Qatar. The wealthy Gulf state bought into the struggling German lender back in 2014, when it injected 1.75 billion euros ($2 billion) in return for about 60 million shares. Those shares are now worth just 624 million euros, or about 1.13 billion…
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China is cutting off cash to Venezuela
After pouring billions into Venezuela over the last decade, China is cutting off new loans to the Latin American nation. It’s a major reversal of relations between the two nations, experts say. It also comes at the worst time for Venezuela, which is spiraling into an economic and humanitarian crisis. “China is not especially interested…
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UK faces economic turbulence during Brexit process: Hammond
The British economy will face turbulence as the government negotiates the country’s exit from the European Union, finance minister Philip Hammond said on Monday. On Sunday, Prime Minister Theresa May said Britain would begin formal divorce talks with the EU by the end of March next year, and Hammond said he was in favor of…
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Tesla posts 70 percent rise in quarterly deliveries, backs 2016 target
Tesla Motors Inc (TSLA.O) said on Sunday its third-quarter deliveries rose 70 percent to 24,500 cars, following production improvements, cheaper lease deals and reports of discounts on some vehicles. Deliveries are a key metric of performance for the luxury electric vehicle manufacturer, which had missed these targets in the previous two quarters. The improved deliveries…
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Small Japan firms dying out as aging owners struggle to find successors
Japan’s small firms, many of which are “mom-and-pop” operations, are dying out as their aging owners struggle to find successors, in another sign that the fast-ageing population is taking its toll on the world’s third-largest economy. Prime Minister Shinzo Abe has targeted more business start-ups as a crucial part of regenerating activity, but the impact…
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Europe: Desperate uranium miners switch to survival mode despite nuclear rebound
The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent…
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Middle East airlines now raid Kenya Airways for pilots
More than 60 pilots quit national carrier Kenya Airways for greener pastures in rival Middle East airlines in the past year, the company’s management said. An undisclosed number of engineers have also left for better jobs as the Kenyan carrier struggles to dig itself out of a loss-making pit. Kenya Airways – popularly known as…