Business

Oil prices regain ground after 7% weekly drop

A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. Photogrpher Benoit Tessier/ File Photo By Reuters Oil prices edged up in Asian trading on Monday, following a more than 7% drop last week on worries about demand in China, the world’s top oil importer, and an easing of concerns about

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China’s economy on steady course to realize 2024 targets

This photo taken on Aug. 14, 2024 shows the new energy vehicles production line of a smart factory of Seres Group in southwest China’s Chongqing Municipality. Photographer Wang Quanchao) By Xinhua News Agency The Chinese economy gained a firm footing in the third quarter (Q3) of this year in the face of mounting challenges at

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UK’s Reeves does not rule out National Insurance rise for businesses

Chancellor of the Exchequer Rachel Reeves makes her keynote speech during the International Investment Summit in London, which brings together up to 300 industry leaders to boost investment in the UK. Picture date: Monday October 14, 2024. Photographer Jonathan Brady By Reuters British finance minister Rachel Reeves declined to rule out raising the national insurance

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Uganda signs deal with Turkish firm to build railway line

By CGTN The Ugandan government on Monday signed a contract with Turkish firm Yapi Merkezi to build a 272-kilometre section of railway, linking the capital Kampala to the border town of Malaba. The line is part of a 1,700 kilometre electric line project and is estimated to cost about 3 billion U.S. dollars. The railway

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Norway’s Equinor remains committed to Tanzania LNG project

The logo of Equinor is set up at the entrance of a building at Western Europe’s largest liquefied natural gas plant Hammerfest LNG in Hammerfest, Norway, March 14, 2024. Photographer Lisi Niesner/File Photo By Reuters Norway’s Equinor (EQNR.OL), opens new tab remains committed to a $42 billion liquefied natural gas (LNG) project in Tanzania that

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Sterling drops versus euro and dollar, geopolitics in focus

Woman holds British Pound banknotes in this illustration taken May 30, 2022. Reuters/Dado Ruvic/Illustration/File Photo By Reuters Sterling dropped versus the euro and the dollar on Monday, with geopolitical risks and central banks’ monetary policy path still in focus. The pound recorded its biggest daily fall last week since April after Bank of England Governor

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China bond market opening offers no panacea to debt-laden African states

China’s President Xi Jinping and Ghana President Nana Akufo-Addo review the Chinese People’s Liberation Army honour guard during the welcome ceremony at the Great Hall of the People in Beijing, China September 1, 2018. Nicolas Asfouri/Pool via Reuters/File Photo By Reuters Plans by African governments to raise money on China’s domestic debt markets via so-called

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Egypt aims to restore normal output at gas fields by summer 2025

Egyptian Prime Minister Mostafa Madbouly, October 31, 2023. Photographer Mohamed Abd El Ghany/File Photo By Reuters Egypt aims to restore normal production at its natural gas fields by next summer, Prime Minister Mostafa Madbouly said on Thursday, signalling the government is moving to settle its arrears with production companies. Madbouly told a news conference that

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China offers Africa $51 billion in fresh funding, promises a million jobs

China’s President Xi Jinping delivers a keynote speech at the opening ceremony of the ninth Forum on China-Africa Cooperation (FOCAC) Summit, at the Great Hall of the People in Beijing, China September 5, 2024. Photographer Florence Lo By Reuters President Xi Jinping pledged on Thursday to step up China’s support across the debt-distressed African continent

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China to ‘revitalise’ ageing railway linking Zambia, Tanzania

China’s President Xi Jinping attends Shanghai Cooperation Organization (SCO) summit in Astana, Kazakhstan July 4, 2024. Photographer Turar Kazangapov/File photo By Reuters China, Tanzania and Zambia signed an initial agreement to rehabilitate a decades-old railway aimed at improving the rail-sea transportation in resource-rich East Africa, Chinese state media said on Wednesday. President Xi Jinping witnessed

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