Business

China plans to restrict visas for U.S. visitors with ‘anti-China’ links

Photo/Reuters China is planning tighter visa restrictions for U.S. nationals with ties to anti-China groups, people with knowledge of the proposed curbs said, following similar U.S. restrictions on Chinese nationals, as relations between the countries sour. China’s Ministry of Public Security has for months been working on rules to limit the ability of anyone employed,

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Guterres warns U.N. may not have enough money to pay staff next month

FILE PHOTO: United Nations Secretary General Antonio Guterres addresses the opening of the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 24, 2019. REUTERS/Lucas Jackson The United Nations may not have enough money for staff salaries next month if member states don’t pay what

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IMF chief: trade conflicts fuel synchronized global slowdown

File photo the World Bank CEO Kristalina Georgieva speaks during the forum Frontiers in Anticorruption at the World Bank/IMF annual spring meeting in Washington. Georgieva, the new head of the 189-nation International Monetary Fund, says the world economy is in the grips of a “synchronized global slowdown” that will result in slower growth for 90%

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Germany announces additional $73 mln in aid to Somalia

Photo/Somali Times/Germany Ambassador Annett Gunther Support over next two years ‘complements positive trajectory Somalia has taken in recent years,’ says German ambassador Germany said Monday it will provide an additional $73 million in financial aid to Somalia as it vowed to boost bilateral ties. Ambassador Annett Gunther made the announcement while hosting a celebration in

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Gold export strengthens Ugandan shilling

Since May, Uganda’s earnings from gold exports have been increasing from $78.7 million to $97.3 in July. Increased gold export in recent months has strengthened the Ugandan shilling, helping ease inflationary pressure from imported goods. The Uganda Bureau of Statistics reported that the annual headline inflation had slowed to 1.9 per cent in the month

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China’s forex reserves stand at $3.09 trillion at September end, gold-buying continues

Photo/CGTN China’s foreign exchange reserves came in at 3.09 trillion U.S. dollars, and its gold reserves rose for a tenth straight month at the end of September, official data showed Sunday. China’s forex stands stably The amount increased by 19.7 billion U.S. dollars, or 0.6 percent from the beginning of 2019, according to the State

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Iran says Chinese state oil firm withdraws from $5B deal

FILE – This March 16, 2019 file photo, shows natural gas refineries at the South Pars gas field on the northern coast of the Persian Gulf, in Asaluyeh, Iran. China’s state oil company has pulled out of a $5 billion deal to develop a portion of Iran’s massive offshore natural gas field, the Islamic Republic’s

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Allies, donors map the road to Somalia’s coming election

New Somali President Mohamed Abdullahi Farmajo, right, is joined by incumbent President Hassan Sheikh Mohamud, left, as he speaks to reporters after winning the election in Mogadishu, Somalia, February 8, 2017. (AP Photo/Farah Abdi Warsameh) Somalia’s partners are trusting the federal government and state administrations to deliver on the planned universal suffrage elections, warning the

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Tough times: Kenya piles Kshs 2.5 billion debt in a day

A Kshs 200 note. Kenya is headed for tough times ahead after the country’s currency lost its value against the US dollar by a 0.1 per cent depreciation on Thursday. [Photo/CBK] Even without signing any new loan deals, the country has to fork out the billions to repay its debtors, adding to the pinch the

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Swiss banks benefit as rich Britons line up escape route from Brexit chaos

Photo/(Reuters Swiss private banks have seen a sharp rise in British clients who are moving assets offshore to escape a chaotic Brexit, several sources familiar with the situation told Reuters. “In recent months the number of accounts opened from Britain has trebled,” one person at the wealth management arm of a large international bank in

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