Category: INTERNATIONAL
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Wal-Mart triples online items, lowers prices as holiday season kicks in
Wal-Mart Stores Inc is planning to boost sales and fend off rivals this holiday season by doubling down on incentives for shoppers who buy online and those who visit its stores. The world’s largest retailer said it tripled its online selections for the holiday season to 60 million items, and that it would provide free…
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China’s war on smog, risk, taking edge off Asia’s growth sprint
Growth in China’s manufacturing output slowed in October, threatening to chill activity across Asia, as tough steps to reduce air pollution forced factories to reduce production and a crackdown on financial risk-taking weighed on smaller firms. While business surveys on Wednesday suggested Asia’s export-driven expansion still has legs, the readings are starting to reflect signs…
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U.S. trade panel recommends varying solar panel import restrictions
Members of the U.S. International Trade Commission on Tuesday made three different recommendations for restricting solar cell and panel imports on Tuesday, giving President Donald Trump a range of choices to address injury to domestic producers. The recommendations range from an immediate 35 percent tariff on all imported panels to a four-year quota system that…
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Asia shares mount 10-year top on strong economy, oil gains
Asian shares scaled a 10-year high on Wednesday on the back of solid economic growth globally, while oil prices extended a bull run on hopes that major producers will maintain their output cuts. European shares are expected to rise, with spread-betters looking at a higher opening of 0.4 percent in France’s CAC and 0.3 percent…
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Egypt: Sisi Asserts Importance of Developing Civil Aviation Sector
President Abdel Fattah El Sisi underlined the importance of continuing to upgrade and develop the civil aviation sector including Egyptian airports’ security systems and qualifying its working human cadres to cope with the latest technologies. Sisi referred to the importance of the civil aviation sector in increasing travelling and tourism movements which would contribute to…
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Egypt’s Air Force Destroys 6 Vehicles Loaded With Weapons On Western Border
Egypt’s Air Forces destroyed six four-wheel-drive vehicles loaded with smuggled weapons and ammunition on the country’s western border. Criminals inside the vehicles were killed in the raid, the Armed Forces said in a statement on Monday 30/10/2017. The move comes as part of the continued efforts by the Air Forces in cooperation with the border…
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Kenya: Lecturers launch pay increase strike today
Learning at public universities is set to be paralysed today when lecturers go on strike over the delayed implementation of a pay rise agreement. The strike follows the decision by universities to revert to previous salaries and allowances after implementing Sh10 billion arrears that were running to June 30. Universities Academic Staff Union (UASU) secretary-general…
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Kenya: Equity bets big on Uganda subsidiary for profit growth
Equity Bank is looking at its Ugandan subsidiary as its best bet for growth in the coming years as its Kenyan and other regional markets slow down due to regulatory interventions, political squabbles and subdued commodity prices on the global markets. Equity’s Ugandan subsidiary posted a 37 per cent jump in profit in the nine…
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Two banks drop McKinsey in fallout from South Africa scandal
Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma. Privately-held McKinsey, the world’s largest management consultancy, has denied doing anything illegal but said this month that…
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South Africa’s NUM union threatens strike in coal sector
South Africa’s National Union of Mineworkers (NUM) said on Tuesday its coal workers will embark on a strike if the Chamber of Mines does not meet its wage demands. A strike in the coal sector could affect power supply as the lion’s share of electricity in Africa’s most industrialised economy is generated from coal. The…