Category: INTERNATIONAL
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Kenya:Rotich’s new consumer levies catch taxpayers by surprise
Some of the new tax measures that Treasury Secretary Henry Rotich proposed in his Budget Statement last Wednesday came into force hours after they were submitted to Parliament, causing consumers instant pain. Through the Finance Bill 2016, which was not immediately made available to the public, Mr Rotich instituted far-reaching tax measures that immediately raised…
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Egypt: North Sinai Governor, Investment Minister to Follow Up Investment Projects
North Sinai Governor Abdel Fattah Harhour has met Investment Minister Dalia Khorshid for talks on promoting the establishment of investment projects in the industrial zones of the governorate. Commander of the Military Zone in Eastern the Canal District General Osama Askar, Head of the National Agency for Development of Sinai General Shawqi Radwan and South…
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South Africa moving closer to higher interest rates
The SA Reserve Bank will likely begin raising interest rates again, owing to a growing current account deficit, a sharp contraction in growth and the weakness of the currency, analysts predict. The current account deficit widened to 5% of GDP in the first quarter from a revised shortfall of 4.6% in the final quarter of…
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Rwanda to provide financial support for exporters
Rwanda’s export sector now has the means to financially support exporters with small businesses struggling to move goods out of the country; this was said at a discussion between exporters and the ministry. The East African country has had to contend with a decline in trade merchandise exports compared to the previous years which were…
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Egypt’s Trade Deficit Narrows Due to Fall in Imports’ Prices – Official Agency
Egypt’s trade deficit by 44.4 per cent narrowed in March compared to the same month last year amid a fall in imports’ prices, an official statistics agency said on Tuesday. The Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement that a 27.2 per cent fall in imports pushed down the deficit…
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S.African rand on shaky ground after current account gap widens
South Africa’s rand stayed on the back foot against the dollar early on Wednesday a day after central bank data showed a wider-than-expected current http://laparkan.com/buy-sildenafil/ account deficit. By 0711 GMT the rand was at 15.2850 against the greenback, little changed from its New York close at 15.3040 in the previous session. The local currency had…
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Morocco, China Firm to Build Industrial Park With U.S.$ 10 Billion Investment
Morocco and Chinese group HAITE will set up an industrial and residential park in the northern city of Tangiers with 10 billion U.S. Dollar-worth investment, local media reported Monday. According to Moroccan news site Medias24.com, Moroccan officials and Chinese delegation discussed over the weekend in Morocco means to implement this large-scale park which will host…
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SA bolsters power capacity as new unit linked to grid – Eskom
South Africa’s Eskom linked up the first of four units at its Ingula power plant on Friday, the utility said on Monday, as it raises capacity to overcome chronic electricity shortages in Africa’s most developed economy. Eskom, which has in the past been forced to impose power cuts to prevent demand from surging past capacity,…
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Kenya’s Helios names new Telkom CEO
Helios Investment Partners, the new majority shareholders of Telkom Kenya has tapped a former Orascom executive, Aldo Mareuse to be chief executive officer of the company. Mr Mareuse an engineer by profession and a former group chief finance officer (CFO) of Orascom Telecom Media and Technology Holding an Egypt-based listed company takes over from Vincent…
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Nigerian militants insist on foreign mediators for talks with government
The Niger Delta Avengers, a militant group that has carried out attacks on oil facilities in Nigeria’s southern oil region, said on Monday it would only negotiate with the government if independent foreign mediators were involved. Last week the group, which wants a greater share of Nigeria’s oil wealth to go to the impoverished Niger…