Category: INTERNATIONAL
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U.S. job growth accelerates in June, wages continue to lag
U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate hike this year despite sluggish wage gains. Non-farm payrolls jumped by 222,000 jobs last month, driven by hefty gains in healthcare, government,…
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U.S: Buffett bets big on power infrastructure with $9 billion Oncor deal
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it would pay $9 billion to pick up the parent of Texas power transmission company Oncor Electric Delivery Co from bankruptcy, stepping up its pursuit of steady returns in utilities. If the all-cash deal is approved by a bankruptcy judge and Texas regulators, it will hand…
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Algeria to Give Legal Status to African Migrants
Algeria plans to grant residency rights and job permits to illegal African migrants amid a shortage of workers in farming and construction and after a surge in racist sentiment across the country. Prime Minister Abdelmadjid Tebboune’s plan follows the launch of an anonymous online campaign that blames African migrants for taking jobs and spreading the…
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Toyota unit fights Kenyan buyers’ vehicle defect suit
Toyota’s financing arm Tsusho Capital has denied receiving any complaints on mechanical defects affecting 45 Hino buses it sold to 11 companies and individuals. The buyers have lodged a product liability claim against it, its sister companies and the Kenya Bureau of Standards (Kebs). Tsusho claims that only one buyer, Martin Mwangi Njoki, among those…
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Kenya: KQ Gets Air Traffic Rights in U.S. Paving Way for Direct Flights
Kenya Airways (KQ) has been granted air traffic rights to the United States (US) airspaces inching closer to direct flights to the US. Transport Cabinet Secretary James Macharia told Capital FM Business the airline now awaits other crucial licenses to see it fly to the US by March 2018. Among the crucial licenses include the…
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IMF warns South Africa over economy’s vulnerability
The International Monetary Fund warned South Africa on Thursday its economy is extremely vulnerable to external shocks and funding shortfalls, although it stuck by its earlier growth forecast of 1 percent this year. In an executive report following a country visit in the last week of June, the Fund also said policy uncertainty linked to…
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Nigeria, Libya Oil Output Threaten Global Market
The increase crude oil output by both Nigeria and Libya has posed a threat to the global market, even as there are indications that the global oil market may see some rebound in the second half of the year. International Energy Agency, IEA, Chief, Fatih Birol, told Reuters in an interview that the development is…
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Egypt Wants More Trade With Zambia
Egyptian Foreign Affairs Minister Sameh Shoukry has said his country desires to increase trade and investments with Zambia. Speaking during a bilateral meeting with his Zambian counterpart Harry Kalaba in Addis Ababa, Ethiopia, on Saturday, Mr Shoukry said his country was looking for more investment opportunities in Zambia. He hailed the excellent relations existing between…
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South Africa: Oakbay Capital Statement
Three months ago, Bell Pottinger announced that it had decided to cease work for Oakbay Capital. We had worked for them for a year, following a competitive bid process. When we terminated our work with Oakbay, we said we were doing so because of increasingly strong social media attacks on our staff and our business…
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Tanzania: Telcos Surrender As TCRA Bans Caller Tunes
Telecom operators have surrendered to an order by Tanzania Communications Regulatory Authority (TCRA) to stop unsolicited adverts in the caller tunes which the regulator said were against the 2015 Value Added Services (VAS) Regulations. TCRA director general James Kilaba told operators yesterday that they can air their adverts only when a subscriber is checking the…