Category: INTERNATIONAL
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U.S:Trump to meet with business leaders on infrastructure
President Donald Trump plans to meet with a group of infrastructure business leaders at the White House on Wednesday, a person briefed on the meeting said. During his presidential campaign, Trump said he would push for a $1 trillion infrastructure program to rebuild roads, bridges, airports and other public works projects. The lunch meeting is…
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Europe stocks inch up, dollar rises before jobs data
European shares edged up on Wednesday after minor gains in Asia as Chinese import data signaled a recovering economy, while the dollar rose before jobs numbers that could help cement expectations that U.S. interest rates will rise next week. The pan-European STOXX 600 index inched up 0.1 percent, after falling for the previous four trading…
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Somalia: Trump Signs New Muslim Travel Ban Excluding Iraq
Donald Trump has signed a revised travel ban that will temporarily halt entry to the US for people from six Muslim-majority nations. Under the Republican president’s order announced on Monday, a 90-day ban on travel to the US will be imposed on citizens of Iran, Libya, Syria, Somalia, Sudan and Yemen. Travellers holding pre-existing visas…
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South Africa’s economy contracts in fourth quarter as mining & manufacturing slip
South Africa’s economy contracted 0.3 percent quarter-on-quarter in the final three months of last year as mining and manufacturing output shrank, the statistics agency said on Tuesday, putting credit ratings at risk. Africa’s most industrialised economy faces the risk of being downgraded to junk status owing to weak economic growth after it got a reprieve…
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Nigeria:Shell shuts Bonga oil field for at least a month
Shell Nigeria Exploration and Production Company (SNEPCo) halted production at Nigeria’s Bonga oil field on March 4 for maintenance that will last at least a month. SNEPCo said in a statement that Bonga, which has the capacity to produce 225,000 barrels per day (bpd) of oil and 150 million standard cubic feet (scf) of gas,…
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Kenya:KenGen sets stage for higher power bills with plea to ERC
Consumers are set to pay more for electricity after power producer KenGen sought the energy regulator’s greenlight to recover costs of maintenance of power plants through higher bills. The State-owned company wants the nod from the Energy Regulatory Commission (ERC) to pass on the tariffs for its hydropower stations following recent upgrades. Maintenance costs refund…
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Nigeria: NNPC, Marketers Under Fire Over N10 Trillion Subsidy Fraud
The Senate has invited officials of the Nigerian National Petroleum Corporation (NNPC), independent marketers, license inspection agency and the Nigeria Ports Authority (NPA) over the alleged N10trillion fuel subsidy fraud. Chairman of the Senate Committee on Petroleum (Downstream) Senator Kabiru Marafa who stated this in press statement said out of the N10trillion, NNPC is to…
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S.A:Millions of South Africans will be paid benefits on April 1- minister
The government will continue paying millions of South Africa’s most vulnerable people social security payments on April 1, despite not signing a new deal with an existing service provider, the minister of social development said on Sunday. The South African Social Security Agency (SASSA) is scrambling to ensure that as many as 17 million people…
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Kenya:Price fixing is the lifeline of insurers, says regulator
The insurance industry regulator says that several motor vehicle underwriters could collapse if minimum customer premium charges are removed. The Insurance Regulatory Authority (IRA), in court filings intended to defend price fixing in the industry, says the price floors were introduced after several motor vehicle insurers faced collapse after undercutting competitors without considering that insuring…
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S.A:Lonmin’s chief operating officer to step down next month
Troubled platinum miner Lonmin said on Monday its chief operating officer (COO) has resigned for personal reasons. After more than two years in the role of COO and director, Ben Moolman will step down on April 5, Lonmin said, without naming a successor. The world’s third-largest platinum producer, which was saved from collapse in 2015…