Category: INTERNATIONAL
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Nigeria: Jibrin Asks Anti-Graft Agencies to Probe Massive Money Laundering in House of Reps
Kano lawmaker, Abdulmumin Jibrin, on Saturday called on anti-corruption agencies in the country to probe widespread acts of money laundering in the House of Representatives, saying the pattern has become entrenched in the lower chamber. Mr. Jibrin said there was no better time for the authorities to revive pending money laundering cases than now. “The…
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Nigeria: Renewed Militancy Adding to Economic Difficulty, Says Ijaw Group
A group under the aegis of Ijaw Community Association has called on the various Niger Delta militant groups to embrace peace and dialogue with the federal government, saying renewed agitation in the region have added more difficulty to the already ailing economy. The group said the activities of various militant groups, who have been blowing…
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Kenya:Petrol, diesel, kerosene prices climb on delay of cheaper July products
Prices of petroleum products increased by up to Sh2.2 per litre, driven by a delay in delivery of cheaper products that saw the prices set based on more expensive June supplies. The maximum retail prices of petrol, diesel and kerosene have all increased in the latest price review by the Energy Regulatory Commission (ERC) which…
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Egypt: Sisi Says Will Push Through Reforms As Public Debt Reaches EGP 2.3 Trillion
President Abdel Fattah al-Sisi said on Saturday that public debt reached EGP2.3 trillion and that he “will not hesitate” to take measures to improve the economy. Sisi made the statements in a press conference held during the opening of a petrochemical complex in Alexandria. He said the appointment of 900,000 people in the government sector…
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Zimbabwe: Govt Satisfied With Mining Sector
Government is now satisfied with the level of co-operation it is receiving from mining companies in the crafting of a fiscal regime for the sector, following initial resistance by some players, a Cabinet Minster has said. The Government, together with its partners, is developing a new fiscal regime for the mining sector which is designed…
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Kenya:More lenders plan loan rates reduction as pressure mounts
Four more commercial banks have given notice they will lower loan interest by up to a percentage point as control of lending and deposit rates looms. National Bank of Kenya, Family Bank, Bank of Baroda and Bank of Africa put out notices last Friday saying the reduction in the rates will apply from later this…
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Nigeria:Shell declares force majeure on Bonny Light
Shell’s Nigerian unit has declared force majeure for Bonny Light crude oil liftings due to a shutdown of a Niger Delta pipeline following a leak, a statement said on Friday. The declaration comes just over a month after the company ended its most recent new force majeure on Bonny Light after repairing another a leak…
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Eurostar strikes by RMT and TSSA suspended for talks
Strikes by Eurostar workers at the RMT and TSSA unions will be suspended from midnight to allow further talks, they have said. The unions had been due to hold four separate strikes over August, in a dispute about work-life balance. The RMT said the strike halt was to allow “further, detailed negotiations after some progress…
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US economic data tests market confidence
(Close): US markets were mixed on Friday as data on retail spending and producer prices raised questions about the buoyancy of the economy. The Dow Jones was down 37.05 points to 18576.47, while the wider S&P 500 was 1.74 points lower at 2184.05. The tech-based Nasdaq climbed 4.5 points to 5232.89. US retail sales in…
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Japan’s economic growth weaker than forecast
Japan’s economy grew at a weaker-than-expected rate in the second quarter despite an aggressive spending policy by the government. Gross domestic product grew at an annualised rate of 0.2% in the three months to June, below market forecasts for 0.7% and a marked slowdown from the 2% rate in the first quarter. The figures come…