Business

Gulf tanker incidents may raise shippers’ costs, cut traffic

In this May 2, 2013 photo the Liberian-flagged oil tanker Mesdar is seen at an unknown location. British Foreign Secretary Jeremy Hunt confirmed Friday July 19, 2019 that Iran had seized one British, the Stena Impero, and one Liberian-flagged vessel, Mesdar, in the Strait of Hormuz. It was the latest escalation of tension in the

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Kenya: Rotich spent most of taxpayers’ money on salaries and debts

In the 11-months to May, National Treasury Cabinet Secretary Henry Rotich spent nearly all the tax collected on items that can’t spark economic growth. For every Sh100 that the Kenya Revenue Authority (KRA) collected during 2018/19 financial year, about Sh61 went pay interest, salaries and pensions leaving very little for development activities such as building

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Nigerian business magnate is the only Black man in the top 100 of the latest billionaires list

Nigerian president Muhammadu Buhari hosting billionaires Bill Gates and Aliko Dangote Nigerian billionaire and business magnate, Aliko Dangote, is the only black man in the top 100 of Bloomberg‘s 2019 billionaires list proving his position in the global sphere and unrelenting business acumen. Born in Kano State in Nigeria, Dangote has a total net worth

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Duale denies links to firm at centre of Sh2bn tender scandal

National Assembly Majority Leader Aden Duale. A firm believed to him has been awarded government tenders worth Sh2.6 billion over the last ten years, a Nation investigation has revealed. A firm believed to be associated with Garissa Township MP and National Assembly Majority Leader Aden Duale has been awarded government tenders worth Sh2.6 billion over

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Defying Trump, US House votes to block Saudi arms sales

Photo/Reuters Measures related to $8bn in arms sales to Saudi Arabia now go to Trump, who is expected to veto the resolutions. Washington, DC – The United States House of Representatives on Wednesday approved three resolutions aimed at blocking President Donald Trump’s planned sale of guided missiles and other weapons to Saudi Arabia, the United

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Jordan appoints new Qatar envoy, two years after downgrading ties

Jordan’s King Abdullah II, right, receives Qatar’s deputy PM Khalid bin Mohammad Al Attiyah, centre, in Jordan Amman moves to restore normal ties with Qatar more than two years after withdrawing its ambassador over Gulf crisis. Jordan has appointed a new ambassador to Qatar, a step towards restoring normal relations two years after Amman withdrew

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Lagarde resigns as IMF chief, starting race for her successor

Photo/Reuters International Monetary Fund chief Christine Lagarde submitted her resignation from the global crisis lender on Tuesday, citing more clarity about her nomination to lead the European Central Bank as European legislators approved a new top bureaucrat. Lagarde said in a statement her resignation was effective Sept. 12, firing the starting gun for the IMF’s

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Kenya Is losing its lead in the region

Eritrean President Isaias Afwerki, Ethiopian Prime Minister Abiy Ahmed and South Sudan President Salva Kiir. They were in Juba for tripartite talks on regional affairs. Kenya could slowly be losing its strategic lead in East Africa due to the changing geopolitics and the newfound unity between Ethiopia, Eritrea and Somalia. Analysts suggest Kenya needs to

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Taiwan president travels to Haiti to bolster relations in the region

Taiwan’s President Tsai Ing-wen shakes hands with Haiti’s President Jovenel Moise during her visit in Port-au-Prince, Haiti July 13, 2019. REUTERS/Andres Martinez Casares Taiwan’s President Tsai Ing-wen visited Haiti on Saturday in an attempt to bolster support in the region after the neighboring Dominican Republic broke diplomatic ties with Taiwan last year. The visit to

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Somalia launches program to boost education opportunities in Somalia

Somalia and two international agencies on Thursday launched a program to boost education opportunities for children and youth impacted by ongoing crises in Somalia. The initiative backed by the government, Education Cannot Wait and Development Relief Agency in Somalia (ADRA) will improve access to safe, quality education for children and youth affected by the multiple

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