Business

European, Egyptian ministers reject Turkish deals with Libya

The foreign ministers of Greece, Cyprus, France and Egypt rejected two deals signed by Ankara and Prime Minister Fayez al-Sarraj’s U.N.-recognised Libyan government in Tripoli, calling them null and void and condemning Turkey’s activities in the eastern Mediterranean, Greek newspaper Kathimerini reported. The ministers met in Cairo on Wednesday as fallout continues from the deals,

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Turkey, Russia launch TurkStream pipeline carrying gas to Europe

The presidents of Turkey and Russia on Wednesday formally launched the TurkStream pipeline which will carry Russian natural gas to southern Europe through Turkey, part of Moscow’s efforts to reduce shipments via Ukraine. The pipeline project, stretching 930 km (580 miles) across the Black Sea, reinforces strong energy ties between Moscow and Ankara, which have

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Tough times for motorists as US, Iran row raises oil price

Motorists and cooking gas users face tough times ahead after global crude oil prices rose to an eight-month high after last week’s assassination of a top Iranian general by the US last Friday fanned fears of a major conflict in the Middle East. The indicative Brent crude price rose to an average of $72.01 a

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US-Iran tensions roil world markets as gold hits 7-year high

A woman rides a bicycle past at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo Monday, Jan. 6, 2020, in Tokyo, marking the start of this year’s trading. Shares are skidding in Asia, with Tokyo’s Nikkei 225 index down 2 percent on concern over escalating tensions in the

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Britain’s navy to escort UK-flagged ships through Strait of Hormuz

Britain’s Defence Minister Ben Wallace leaves the Houses of Parliament in London, Britain, October 28, 2019. REUTERS/Hannah McKay Britain’s navy will accompany UK-flagged ships through the Strait of Hormuz to provide protection after the United States killed Iranian military commander Qassem Soleimani in an air strike, inflaming tensions in the region. Britain was forced to

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Turkey seeks new partnership with African countries

A child in Zanzibar, Africa during the visit of Turkey’s Diyanet Foundation ( RECEP BILEK – ANADOLU AJANSI ) Turkey enhances relations with African countries on multiple fronts, promising a bright future for further cooperation Turkey’s multidimensional foreign policy has led it to seek cooperation and open itself to previously neglected regions, one of which

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Companies, broke Kenyans hope for better fortunes in 2020

Photo Credit Daily Nation Kenyans shop at Naivas supermarket in Nyeri on December 21, 2019 as they hope food prices will be more affordable come the year 2020. The Kenyans are cautiously optimistic 2020 will not be a tough year although projections point to a year of economic turbulence that will require families to trim

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Kenyattas, Mwangi gain billions at NSE

President Uhuru Kenyatta (left), James Ndegwa (centre) and Equity Group chief-executive James Mwangi It has been a good year for tycoons owning bank shares like the Kenyattas, the family of former Central Bank of Kenya governor Philip Ndegwa and Equity Group chief executive James Mwangi after each added more than Sh1.4 billion to their wealth.

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Somali Parliament approves electoral law

Photo/Somali Times Mogadishu, Members of the Somali Federal Parliament held a regular meeting on Saturday at Villa Hargeisa in Mogadishu. The agenda for today’s session is the third reading of the National Electoral Law, which was debated by MPs in recent days. Today’s hottest debate has been passed by MPs on the electoral law, which

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Ethiopia approves accord with Djibouti to build gas pipeline: report

Members of the Ethiopian Parliament in Addis Ababa. (Photo by Minasse Wondimu Hailu/Anadolu Agency/Getty Images) The Ethiopian House of Peoples’ Representative (HoPR) approved an agreement that was signed between the governments of Ethiopia and Djibouti to install a cross-border pipeline to transport natural gas. The HoPR, the lower house of the Ethiopian parliament, “approved the

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