The International Monetary Fund (IMF) said on Thursday Gulf Arab states  some of the world’s richest countries could see their financial wealth depleted in the next 15 years amid lower hydrocarbon revenues if they don’t step up fiscal reforms. The six-nation Gulf Cooperation Council (GCC) – whose net financial wealth the IMF estimates at $2

Turkey’s ruling Justice and Development Party (AKP) submitted an omnibus bill to parliament that foresees more severe punishments for insider trading and market manipulation as part of extensive laws regulating the country’s banking industry and capital markets, Bloomberg said on Thursday. “The central bank will now set fees and commissions charged by lenders to their

Disruptions of the global supply chain resulting from the coronavirus outbreak have finally hit home in Kenya as vendors started reporting delayed orders from their suppliers in China. Several e-commerce firms have already sent out warnings to shoppers, noting that their orders would be delayed after many Chinese factories suspended their operations as officials tried

A British bulldog toy and other souvenirs are pictured at a souvenir store, near Parliament Square, on Brexit day, in London, Britain January 31, 2020. REUTERS/Simon Dawson The United Kingdom leaves the European Union on Friday for an uncertain Brexit future, the most significant change to its place in the world since the loss of

Photo Credit Reuters Moscow’s growing influence in Africa is worrying many in the West, the report says. Russian officials are eyeing a port of Berbera as a location for their base on the coast of Somaliland, a self-declared state within Somalia on the Gulf of Aden, according to U.S. Defense Department officials. Both China and

European Parliament President David Sassoli, center, stands with other British MEP’s and members of the political group Socialist and Democrats as they participate in a ceremony prior to the vote on the UK’s withdrawal from the EU at the European Parliament in Brussels, Wednesday, Jan. 29, 2020. The U.K. is due to leave the EU

President Recep Tayyip Erdo?an (R) walks with Senegalese President Macky Sall while being honored by the Presidential Guard at the Palace of the Republic of Dakar, on his official visit to Senegal, Jan. 28, 2020. (AFP Photo) Increasing investments by Turkish firms in the West African nation of Senegal are expected to fortify Turkey’s ties

Qatar Petroleum’s president and CEO, Saad Sherida Al-Kaabi [qatarpetroleum/Twitter] Qatar is not willing to renegotiate prices under its long-term liquefied natural gas (LNG) contracts with India, Qatari energy minister, Saad Sherida Al-Kaabi, announced yesterday. Reuters quoted Al-Kabbi at an event with his Indian counterpart, Dharmendra Pradhan, in New Delhi as saying that Qatar was keen

Central Bank of Kenya Kenya’s top lenders could be denying their customers close to Sh6.29 billion in loan interest reliefs after the Central Bank of Kenya (CBK) lowered its benchmark rate in November last year. Market enquiries indicate that KCB, NCBA, Equity Bank and I&M Bank — with a combined loan book of Sh1.258 trillion

Turkish president will meet with his Senegalese counterpart, hold joint news conference Turkish President Recep Tayyip Erdogan arrived in the Senegalese capital Dakar on Tuesday on the final stop of his three-nation African tour. Erdogan arrived at Blaise Diagne International Airport and was welcomed by his Senegalese counterpart’s spouse Marieme Faye Sall and other officials.