Business

China signals cuts in loans to Africa after reduction of financing pledge

President Uhuru Kenyatta with Chinese Foreign Minister Wang Yi. By Business Daily Africa China has signalled a reduction in loans to Kenya and other African countries in coming years after it cut financial commitment to projects in the continent as much as a third in the next three years. Nairobi has been a major beneficiary

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Turkish lira steadies after historic November selloff

Turkish lira banknotes are seen placed on U.S. Dollar banknotes in this illustration taken, November 28, 2021. REUTERS/Dado Ruvic/Illustration By Reuters The Turkish lira held steady on Wednesday after tumbling to a new record low of 14 to the dollar overnight as President Tayyip Erdogan doubled down on his pre-election strategy of sharp rate cuts

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What Farmajo and Sheikh Tamim discussed?

Photo/Somali Times The President of Somalia Mohamed Abdullahi Farmajo who is currently in Qatar met with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani. President Mohamed Farmajo and Emir Sheikh Tamim discussed a number of issues related to strengthening relations between Somalia and Qatar and their common interests in order to promote effective

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China-Africa forum focuses on ‘everlasting’ ties, shared development

President of Senegal Macky Sall makes a speech during the 8th Forum on China-Africa Cooperation, in Dakar, Senegal on November 29, 2021. ( Fatma Esma Arslan – Anadolu Agency ) By Anadolu Agency Strengthening ties and enhancing cooperation are the key areas in focus as the 8th Ministerial Conference of the Forum on China-Africa Cooperation

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Somalia’s President Farmajo travel to Qatar

Photo/Somali Times President Mohamed Abdullahi Farmajo and a delegation led by him recently left for Doha, Qatar, where Farmjo will begin a two-day visit. The Somali presidency said the president had received an invitation from the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and they would discuss strengthening ties between the two countries.

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‘Turkey, Italy will boost bilateral trade to $30B in 5 years’

Italian firms see Turkey as alternative to Chinese supply chains, says head of Italian Chamber of Commerce and Industry Bilateral trade between Turkey and Italy will exceed $20 billion this year and the two nations will increase it to above $30 billion within five years, the head of the Italian Chamber of Commerce and Industry

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Abu Dhabi crown prince in Turkey for first visit in nearly a decade

Turkish President Recep Tayyip Erdogan (R) welcomes Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan (L) with an official ceremony at the Presidential Complex in Ankara, Turkey on November 24, 2021. ( Ali Balikci – Anadolu Agency ) By Anadolu Agency Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan Wednesday arrived in

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Israel, Morocco ink defense deal after normalizing ties

Israeli Defence Minister Benny Gantz, center, visits the Mausoleum of King Mohammed V, in Rabat, Morocco, Wednesday, Nov. 24 2021. Israel and Morocco signed a landmark agreement Wednesday that lays the foundation for security cooperation, intelligence sharing, and future arms sales. (AP Photo/Ilan Ben Zion) Associated Press By ILAN BEN ZION Israel and Morocco signed

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UK inflation jumps to highest level in 10 years as energy bills soar

The UK energy regulator, Ofgem, lifted its cap on household bills on the back of rising wholesale gas prices to record levels. Photograph: Clynt Garnham Products/Alamy The Guardian By Richard Partington Increase to 4.2% in October from 3.1% also driven by higher prices in restaurants and hotels UK inflation has increased to its highest level

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Dollar set for biggest weekly rise in 5 months as yields rise

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking By Reuters The U.S. dollar edged higher on Friday and is on track for its biggest weekly rise in five months since a surprisingly strong U.S. inflation print shocked markets and prompted

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