Business

U.S. should avoid phased approach in trade talks with Kenya: Chamber of Commerce

Photo: Credit Daily Nation WASHINGTON (Reuters) – The United States should work to achieve a single, comprehensive agreement with Kenya that removes barriers to trade and investment, instead of pursuing a phased approach, the U.S. Chamber of Commerce said in a document viewed by Reuters. In comments submitted to the U.S. Trade Representative, the Chamber’s

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Egypt to pay Spanish firm $2bn compensation over collapse of gas deal

Gas processing plant [file photo] On Thursday Spanish gas firm Naturgy have confirmed it would resume its efforts to obtain $2 billion from Egypt in compensation for the collapse of a gas project in the country, Rassd.com have reported. In a statement, the gas firm announced the collapse of the deal with Italy’s Eni oil

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Trump and Putin issue rare joint statement promoting cooperation

Russia’s President Vladimir Putin and U.S. President Donald Trump shake hands during a bilateral meeting at the G20 leaders summit in Osaka, Japan, June 28, 2019. REUTERS/Kevin Lamarque U.S. President Donald Trump and his Russian counterpart Vladimir Putin issued a rare joint statement on Saturday commemorating a 1945 World War Two link-up of U.S. and

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Newcastle takeover: Second human rights group contact Premier League and FA to call for Saudi Arabia consortium to be ‘disqualified’

© Provided by Independent Digital News & Media Limited Human rights group Fair/Square Projects have offered an expert briefing to the Premier League on Newcastle United’s takeover, and expressed their opposition to the deal in a letter to the competition as well as the Football Association. The document states that “there is a compelling body

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Brother-in-law of Qatar Emir named new owner of $927m Ritz-Carlton London

The Ritz London, UK on 5 December 2013 [pathikAvashi/Flickr] When the iconic hotel, the Ritz London, was sold in March for some $927 million to a private Qatari investor, there were speculations over who the individual that managed to get their hands on one of the most prestigious real-estate in the capital was. It now

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Trump seeks Gulf virus cooperation in Qatari emir talk

Emir of Qatar Tamim bin Hamad Al Thani (L) meets with US President Donald Trump (R) US president asks Qatari Emir Sheikh Tamim bin Hamad al-Thani ‘to take steps toward resolving the Gulf rift’: White House U.S. President Donald Trump urged an end to regional divisions in the Persian Gulf during a telephone call with

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Turkish, Somali presidents speak over phone

Two discuss global fight against COVID-19, bilateral ties, regional developments The presidents of Turkey and Somalia on Wednesday discussed the global fight against the coronavirus pandemic in a phone call, according to an official statement. Turkey’s Directorate of Communications said Recep Tayyip Erdogan and his Somali counterpart Mohamed Abdullahi Farmajo also exchanged views on bilateral

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What impact will the oil price crash have on the Arab world?

Photo: Credit Reuters Saudi Arabia’s Crown Prince Mohammed bin Salman Oil prices have hit zero. Yes, oil was “sold” this week with producers only asking buyers to pay for transporting it to its final destination. This is the worst collapse in oil markets in history; it is unprecedented for oil to lose 94 per cent

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Turkish energy producer paid $2.5 million in bribes for Ghana power plant contract – FT

Turkish power producer Aksa Energy allegedly paid $2.5 million in bribes to Ghanaian officials, in order to secure a 2015 contract for building an electricity plant in Ghana, the Financial Times reported on Tuesday. The deal was brokered by Asante Berko, then executive director for U.S. bank Goldman Sachs’ London office, who himself purportedly received

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Debt headache compounds Kenya’s worries amid fears for economy

The amount of debt falling due this year has dropped by Sh29 billion after reconciliations passed through the supplementary budget by the National Treasury. The drop has revised what Kenya planned to pay this year to Sh253.2 billion, down from the Sh282.3 billion that was contained in the original budget for 2019/20. The revision comes

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