Category: INTERNATIONAL
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Nigeria Set to Fully Deregulate Downstream, Petrol to Sell for Over N100 a Litre
Barring any last-minute change in plans, the federal government will, in a few days, introduce policy changes heŕalding the full deregulation of the downstream sector of the Nigerian petroleum industry, officials well briefed on the matter have told PREMIUM TIMES. Nigerians may have to brace up for a minimum of 27.17 per cent hike in…
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SA’s residential market recovery boosts luxury apartment sales
Newly-launched luxury apartment developments across SA have recorded a spike in off-plan sales in recent months – with some already being sold out. The sales that have been reported by industry players have largely been in mixed-use nodes where potential buyers can live, work and play. Property developers are back in business after the 2007/8…
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Kenya-assembled vehicles hit 10,000 units on tax incentive
The number of locally assembled vehicles surpassed the 10,000 mark last year as vehicle dealers increased their output in a bid to lower their tax bills. Data from the Economic Survey 2016 report released last week shows that production of cars, trailers and semi-trailers went up by 6.8 per cent in 2015. “The number of…
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Foreigners push Equity Bank stock past KCB at the bourse
Foreign investors have pushed Equity Bank past KCB to become the most valuable lender listed at the Nairobi Securities Exchange (NSE). Equity’s market capitalisation has risen to Sh150 billion compared to KCB’s Sh120 billion. A year ago KCB’s market valuation stood at Sh185 billion and exceeded Equity’s by about Sh4 billion. Foreign investors have been…
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South Africa says bringing finances under control after Moody’s lowers outlook
South Africa’s Treasury said on Saturday that the government was bringing public finances under control despite recent “adverse political developments.” The Treasury was responding to Moody’s announcement late Friday that it was maintaining South Africa’s investment-grade rating while assigning a negative outlook to it. Moody’s said that it had now concluded a ratings review it…
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Tanzania: Prices of Original Phones Up As Fake Ones Face Ban
The impending switch-off of fake and substandard mobile phones is sending shockwaves to dealers who have resorted to the wait-and-see-approach, resulting into am increase in prices of original handsets. A survey by BusinessWeek at major mobile phone shops at Kariakoo has established that prices of handsets range from Sh100, 000 to Sh1.5 million, depending on…
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Kenya Airways leases out plane to Turkish Airlines
Kenya Airways has signed a lease agreement with Turkish Airlines for one of its three Boeing 777-300 aircraft as part of cost-cutting measures the national carrier is undertaking. KQ, as the airline is known by its international code, says the aircraft has since been deregistered in Kenya and subsequently re-registered with the European carrier. The…
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Nigeria: Export Rubber, Cocoa, Palm Oil to U.S. – EU
The European Union (EU) has urged Nigeria to increase export of agricultural produces like rubber, cocoa and palm oil to the EU countries The Head of EU Delegation to Nigeria and ECOWAS, Mr Michel Arrion, stated this at a press conference on commemorate the 40 years of EU-Nigeria partnership on Wednesday in Abuja. Arrion said…
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Nigeria, U.S. Trade Hits U.S.$799.9 Million in Two Months
The bilateral trade between Nigeria and the United States of America (U.S.), from January to February this year, has been put at $799.9 million, according to the United States’ Census Bureau. Besides, Nigeria’s oil and gas business relationship with Houston Texas in 2015 stands at $15 billion. The Mayor of Houston, Sylvester Turner, who made…
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Zimbabwe: Economy Deteriorates After Lengthy Drought
DROUGHT ravaging Zimbabwe is worsening the Southern African country’s economic difficulties. The erratic rains and increasing temperatures have reduced agricultural output and disrupted hydropower production and water supplies, leaving up to 4 million people in need of food aid. This represents a third of the population. The International Monetary Fund, which has concluded a mission…