By Anadolu Agency Russian Foreign Minister Sergey Lavrov said Sunday that the BRICS bloc of developing economies seeks to create “a more stable global economic architecture.” Lavrov’s remarks came at the BRICS Summit in Rio de Janeiro, Brazil, according to the Russian Foreign Ministry. Noting that regional organizations like the African Union, the Community of

By Reuters Kenya is planning to privatise some state assets via initial public offerings in order to bring in more private sector investment, President William Ruto said in remarks at the London Stock Exchange on Wednesday. The government plans to start with listing the Kenya Pipeline Company via an IPO on the Nairobi Securities Exchange

By The African Exponent Africa produces nearly 10 million barrels of oil daily, accounting for about 10% of global crude oil production. Nigeria is the largest oil producer on the continent, followed by Angola, Algeria, Libya, and Egypt. While Africa is a net exporter of crude oil, it is also a net importer of petroleum

Chinese President Xi Jinping, Kazakh President Kassym-Jomart Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev pose for a group photo in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Tokayev chaired the summit. Xi, Japarov, Rahmon, Berdimuhamedov

An oil pump of IPC Petroleum France is seen at sunset outside Soudron, near Reims, France, August 24, 2022. Photographer Pascal Rossignol/File Photo By Reuters Oil prices softened in Asian trade on Wednesday as markets assessed the outcome of U.S.-China trade talks, yet to be reviewed by President Donald Trump, with weak oil demand from

U.S. Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng pose for a photo with U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China’s International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, Britain By Reuters Top U.S. and Chinese officials will

By The African Exponent The African remittances market is projected to reach a total transaction value of $75.72 billion by the end of 2025. Africa’s most populous country, Nigeria, is expected to receive the largest share of remittance, with diaspora remittances projected to hit $26 billion. The Annual Growth Rate (CAGR) of remittance is projected

By Anadolu Agency US President Donald Trump on Friday said he will speak to Chinese President Xi Jinping, after accusing China of violating a trade deal announced earlier this month, possibly plunging the global trade back into a state of uncertainty after a sigh of relief from the deal in Geneva. “They violated a big

By The African Exponent In 2024, the total value of imported goods in Africa reached $719 billion, showing a modest growth of 2.4% compared to 2023. Meanwhile, exports saw a larger increase, rising by nearly 10% to $682 billion. Imports were robust in manufactured goods and refined petroleum products. Intra-African trade also grew, hitting $208

The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, January 30, 2020. Photographer Luc Gnago By Reuters The African Development Bank will meet in Ivory Coast this week to pick a new president at a time when the continent’s biggest multilateral lender faces unprecedented challenges from funding cuts by the