Business

Uganda to Sue Kenya, Tanzania over exports blockade

EAC countries including Kenya and Tanzania continue to lock out Uganda’s sugar out of their markets without proper explanation. By Dorothy Nakaweesi Uganda will this week seek to find solutions to the continued blockade of its exports, failure of which, it will seek intervention of the East African Court of Justice. Government, according to Ministry

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Kenyans worth more than Sh3bn revealed

Industrialist Mr Chris Kirubi (left), investor Mr Baloobahi Patel (centre) and Equity chief executive James Mwangi. Sixteen Kenyans dropped out of the ultra-rich list in 2020 as the Covid-19 pandemic disrupted businesses and hammered most asset classes across Africa. The latest instalment of the Knight Frank Wealth Report places the number of Kenyans with a

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British products get 25-year tax free entry in Kenya pact

Ministry of Industrialization, Trade and Enterprise Development Cabinet Secretary Betty C. Maina speaking at the Crowne Plaza Hotel, JKIA on Monday, January 18, 2021. Kenya’s trade pact with UK will allow British firms to ship in goods duty-free for 25 years. The post-Brexit trade deal with the UK will, however, open the window for British

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Revealed: Turkey plans spaceport in Somalia for $1bn moon mission

President Recep Tayyip Erdogan revealed an ambitious timetable with the aim of making contact with the moon on unmanned missions (Turkish Space Agency TUA) By Ragip Soylu Turkey’s recently announced space programme, which aims to make a soft landing on the moon in 2028, will cost upwards of $1bn and would require building a rocket

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Global debt hits new high of $281T in 2020

Global debt rose to a new record high of $281.5 trillion in 2020, driven by measures to curb economic fallout from the coronavirus pandemic, according to the Institute of International Finance (IIF), a global trade group of financial institutions. “Coupled with a sharp pandemic-driven decline in government and corporate revenues, total private and public debt

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Biden Downgrades Saudi Crown Prince to ‘Recalibrate’ Ties

Photo: Credit Associated Press Saudi Arabia’s Crown Prince Mohammed bin Salman. By Jordan Fabian, Jennifer Jacobs, and David Wainer President Joe Biden intends to “recalibrate” the U.S. relationship with Saudi Arabia and will emphasize outreach to King Salman, in a move that signals a downgrade in ties with Crown Prince Mohammed Bin Salman, the country’s

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Somalia and China discuss strengthening ties with the fishery

Photo/Somali Times The Somali Ministry of Foreign Affairs discuss with the Chinese Ambassador ways to strengthen bilateral cooperation. The Minister of State for Foreign Affairs and International Cooperation of the Federal Government of Somalia, Bilal Mohamed Osman, received the Ambassador of the People’s Republic of China, Qin Jian, and discussed strengthening bilateral relations and cooperation.

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Turkish lira hits highest value against US dollar in 6 months

US dollar/Turkish lira exchange rate falls below 7 for first time since Aug. 5 last year The Turkish lira has continued its rally against the US dollar on Monday, hitting the highest value in the last six months, thanks to the country’s pledge to open a new era in its economy. Traded for 6.9979, the

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Somalia begins Airing Registration

Photo/Somali Times The Minister of Transport and Civil Aviation of the Federal Government of Somalia, Mohamed Abdullahi Salad, who inaugurated the registration of aircraft and the licensing of professionals, reported on the significant efforts made by the Government of Somalia in restoring the country’s national identity and people. The inauguration ceremony in Mogadishu was attended

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Biden to press for $1.9 trillion COVID relief plan with governors, mayors

U.S. President Joe Biden removes his mask to address NIH staff during a visit to NIH in Bethesda, Maryland, U.S., February 11, 2021. REUTERS/Carlos Barria By Andrea Shalal Biden and Vice President Kamala Harris will also receive an economic briefing from Treasury Secretary Janet Yellen, shortly after she takes part in the first meeting of

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