Category: INTERNATIONAL
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Nigeria: State Determined to Stop Food Importation – President Buhari
Nigeria has the people and the resources to surmount her economic problems, President Muhammadu Buhari has assured. Receiving President of the African Development Bank, ADB, Akinwunmi Adesina, at State House, Abuja, on Monday, President Buhari said: “God has given us people and resources. It will take hard work on our part, but we will make…
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Zimbabwe: Govt Secures U.S.$423 Million for New Agriculture Season
Government has secured $423 million to support the 2016/2017 agricultural season while negotiations are currently underway for a further $500 million, Finance and Economic Development Minister Patrick Chinamasa has said.”For the 2016/2017 agricultural season we are putting our money where our mouth is,” said Minister Chinamasa while launching the Zimbabwe Interim Poverty Reduction Strategy Paper…
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Nigeria: Economy Loses N6.33 Trillion to Naira Devaluation
– Real debt stock hits N19tr Nigeria will spend an equivalent of its 2016 budget to service debts as its currency, the naira, continues to lose value against the United States dollar. Devaluation has put the real value of the country’s debt stock at around N18.9 trillion, when considered at the official rate of N307.79…
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Tanzania: Local Companies Defend Tanesco
Three local companies have added their voice on Tanzania Electric Supply Company (Tanesco) move to seek annulment of International Centre for Settlement of Investment Disputes (ICSID) award for payments of 148.4 million USD to Standard Chartered Bank (Hong Kong) Limited (SCBHK). They are VIP Engineering and Marketing Limited, Independent Power Tanzania Limited (IPTL) and Pan…
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Nigeria: AfDB Offers Nigeria $1 Billion to Fund 2016 Budget Shortfall
The African Development Bank (AfDB) has pledged to offer a $1 billion loan to Nigeria, to support the country with the funding of the $2.2 trillion shortfall in the 2016 budget. The facility attracts a 1.2 per cent interest rate. AfDB President, Akinwunmi Adesina, made the announcement when he led a delegation of the regional…
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Iran Now Has the Edge in the Fight Over Oil Prices With Saudi Arabia
Suddenly the tables have been turned on Saudi Arabia. The biggest oil exporter has swapped its traditional role as price dove with regional foe Iran, for years OPEC price hawk. The government in Riyadh is now offering a deal — including its first output cut in eight years — to boost prices; Tehran is dragging…
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Europe Stocks Tumble as Deutsche Bank Sinks to Fresh Record Low
A plunge in banks put a halt to the optimism that lifted European equities last week, sending them to their biggest slumps since early July. Growing worries over Deutsche Bank AG’s capital buffers dragged the stock to a fresh all-time low and cast a pall on its peers. A gauge tracking the firms trades at…
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UK:Business Consultants Are Having a Great Brexit
Brexit is proving a boon for some workers, according to a survey that paints a generally upbeat picture of the labor market since Britain voted to leave the European Union. Vacancies for business consultants rose 5 percent in August and were up 10 percent from a year earlier, job-search engine Adzuna said in the report published…
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Kenya: NHIF eyes 12m informal sector workers in fresh recruitment
The National Hospital Insurance Fund (NHIF) has set itself an ambitious target of recruiting 12 million Kenyans in the informal sector as it moves to roll out the second phase of its mass recruitment drive. The figure is nearly four times the 3.5 million people it registered from the formal sector in the first phase…
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Tanzania: Bombardier Planes ‘Are Much Safer’
AS Tanzania looks forward to receiving the second bombardier Q400 plane of two the government purchased from Canada this week, it has emerged that the aircraft are safer, fuel-efficient and ideal for cheap local flights. The popular global Forbes Magazine writes in an article titled; “Can Bombardier’s Q400 Save Regional Air Service in the US?”that…