Business

Rolls-Royce sticks to guidance for 2021

A Rolls-Royce logo is seen at the company’s aerospace engineering and development site in Bristol, Britain, December 17, 2015. REUTERS/Toby Melville British engineering company Rolls-Royce (RR.L) stuck to its guidance to turn free cash flow positive at some point during the second half of 2021 as vaccinations kick in and travellers return to the skies.

Read More

UK economy showed resilience ahead of big lockdown easing

File – In this Monday, April 12, 2021 file photo, empty Oxford Street in London before shops open at 7:00am, after coronavirus measures were lifted. The British economy contracted by 1.5% in the first quarter of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat

Read More

Stocks cheer prospects for low rates, oil rides pipeline outage higher

A passerby wearing a protective mask is silhouetted in front of a screen of blank prices on a stock quotation board after Tokyo Stock Exchange temporarily suspended all trading due to system problems, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan October 1, 2020. REUTERS/Issei Kato By Stanley White Stocks rose on Monday amid

Read More

Somalia will be one of the richest countries in the world

File Photo/Somali Times Somali Foreign Minister Mohamed Abdirizak Mohamud, who was interviewed on ClubHouse, said Somalia could do without foreign financial support. The answer to the question of whether we need financial support is yes, we can,” he said. He added, ”In order to avoid this, Somalis need to understand that we have a very

Read More

Somalia announces restart of diplomatic relations with Kenya

File Photo/Somali Times The Federal Government of Somalia has announced the resumption of diplomatic relations with Kenya. Somali Deputy Minister of Information Abdirahman Yusuf Sheikh Al-Adala recently addressed the media and read out a statement from the Somali government. ”Joint communiqué on the resumption of diplomatic relations between Somalia and Kenya.” The Federal Government of

Read More

Bank of England maintains rates, voices optimism on recovery

A view over the City of London looking at the Bank of England, right, from the 59th floor of 22 Bishopsgate in London, Thursday, April 1, 2021. When the pandemic struck, about 540,000 workers vanished from London’s financial hub almost overnight. The area known as “the City” became a ghost town as many people began

Read More

EU plans tightening foreign investment with eye on China

European Commission Vice Presidents Margrethe Vestager, center, Valdis Dombrovskis, left, and EU Commissioner for Internal Market Thierry Breton participate in a media conference on the proposal for a Regulation to address distortions caused by foreign subsidies in the Single Market and on the European Industrial Strategy Update at EU headquarters in Brussels, Wednesday, May 5,

Read More

UAE topples UK as third largest buyer of Kenyan tea

Women pick tea leaves at a farm. The United Arab Emirates (UAE) overtook the United Kingdom (UK) as the third-largest buyer of Kenyan tea in February, underling the Covid-related upheavals of key target markets. The Tea Directorate data shows that buyers in the UAE snapped up 4.22 million kilogrammes of Kenyan tea in February, toppling

Read More

Uhuru, Suluhu in deal to build Dar-Mombasa LNG pipeline

President Uhuru Kenyatta with Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania at State House, Nairobi. By BRIAN NGUGI Kenya and Tanzania yesterday signed a deal to build a liquefied natural gas (LNG) pipeline from Dar es Salaam to Mombasa that will be used for electricity generation and possibly for cooking

Read More

World markets mixed after strong earnings, data lift Wall St

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street. (AP Photo/Ahn Young-joon) By ELAINE KURTENBACH Shares were mixed in Europe and Asia on

Read More