By Reuters The pound steadied on Friday as some calm returned at the end of a bruising week in which concerns about the UK’s deteriorating economic outlook, the policy direction under a new prime minister and demand for dollars all hurt the British currency. Sterling is on course for a weekly fall of nearly 1.5%

In this handout picture provided by the Indian Navy, INS Vikrant, India’s first indigenously-built aircraft carrier, sails for sea trials from Kochi, India, Thursday, Aug. 25, 2022. India on Friday commissioned its first home-built aircraft carrier. (Indian Navy via AP) By The Associated Press India commissioned its first home-built aircraft carrier Friday as it seeks

Industrialization By The African Exponent Africa has a working-age population representing 60% of its population, and it does not face a domestic labor shortage. Industrialization is the period of economic and social change that turns a human group from an agrarian to an industrial society. Industrialization entails the complete re-organization of an economy and has

By Reuters The second phase of Senegal’s Greater Tortue Ahmeyim (GTA) gas project will need investments worth around $5 billion and could start in 2024 or 2025, Senegal’s President Macky Sall said on Thursday. BP and U.S.-listed Kosmos Energy are leading the development of GTA and Yakaar-Teranga, Senegal’s first natural gas projects. The first phase

Joint statement issued by the ministries of finance of the states of the federal republic. They stopped working with the Ministry of Finance and severed their relationship. The statement said that the five regional state agreements that took place in Addis Ababa, Kismayo, Kampala, Nairobi and Mogadishu, were broken by the ministry and therefore, the

By Reuters The Turkish central bank’s net international reserves fell $1.26 billion to $12.62 billion in the week to Aug. 26, central bank data showed on Thursday. The exchange rate used by Reuters on Thursday was 18.1466. In early August, the net forex reserves touched $15.68 billion, their highest level since late April but have

By Reuters Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country’s quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19. The IMF said in a statement that the new Extended Credit Facility arrangement would provide total

Residents watch a convoy of security personnel armed with batons and shields patrol through central Kashgar in western China’s Xinjiang region, China’s discriminatory detention of Uyghurs and other mostly Muslim ethnic groups in the western region. (AP Photo/Ng Han Guan, File) By The Associated Press China has denounced a long-delayed U.N. report that was released

By Business Daily Africa Abdi Hussein Ahmed, a Kenyan wanted in the US for wildlife and drug trafficking was on Wednesday presented before a city court after his arrest early this month. Mr Ahmed had a bounty of up to Sh120 million (US $1) million for his capture and was arrested by detectives in a

By Anadolu Agency French Finance and Economy Minister Bruno Le Maire warned Tuesday that a complete cutoff of Russian gas exports to France combined with a difficult winter could impact the country’s economy. “We have to anticipate the possibility of a complete cutoff of Russian gas exports to France…We have to prepare a scenario in