Kenya’s central bank has upheld the fines it imposed in September against five top commercial lenders for a failure to report suspicious transactions in connection with the theft of funds at a state agency, it said on Friday. Penalties totaling 392.5 million shillings ($3.80 million)were imposed on Standard Chartered Kenya, Equity, Diamond Trust, Co-operative Bank,

WASHINGTON -U.S. President Donald Trump said Friday that China recently sent a list of compromises to reach a trade agreement. Trump told reporters in the Oval Office that further tariffs on Chinese goods may not be needed because “China wants to make a deal. “They sent a list of things that they’re willing to do,

Foreigners are leaving the Middle East’s business hub Dubai is unlike most of the Gulf’s sheikhdoms. Its economy thrives not on oil, but on tourism, trade and finance. Its patch of desert hosts one of the world’s busiest airports, its tallest skyscraper and the region’s biggest port at Jebel Ali. The pace of construction is

Since Abiy becomes the prime minister of Ethiopia April this year, closely eight months ago, he makes and embarks unprecedented transformation in Ethiopia. First, he withdrew Ethiopian troops from the disputed land between Ethiopia and Eritrea, especially the border city BADME and submitted to Eritrea. The two countries had been at loggerheads for more than

LONDON (Reuters) – Prime Minister Theresa May battled on Thursday to save a draft divorce deal with the European Union after her Brexit secretary and other ministers quit in protest at an agreement they say will trap Britain in the bloc’s orbit for years. Just over 12 hours after May announced that her team of

Mogadishu-Landlocked nation in talks with nations to build naval base, Ethiopia to rewrite part of foreign, national security policy, Ethiopia is considering adding a space force to its defense capabilities in a process to modernize the country’s military. Political and economic reforms, Prime Minister Abiy Ahmed began implementing after coming to power in April. The

The U.N. Security Council has voted unanimously to lift sanctions against Eritrea following its thaw in relations with Ethiopia and other neighboring countries. Ethiopia’s U.N. ambassador and other council members spoke immediately after Wednesday’s vote and welcomed the positive developments in the Horn of Africa. The Security Council imposed an arms embargo and other tough

Two prominent U.S. senators expressed alarm on Tuesday about the military and political consequences if China gains control of a port terminal in Djibouti, and said they were concerned it could further boost Beijing’s influence in East Africa. In a letter to Secretary of State Mike Pompeo and Secretary of Defense Jim Mattis, Republican Senator

The United Nations Security Council is set to vote on Wednesday to lift a nearly decade-old arms embargo and targeted sanctions on Eritrea, diplomats said, after the country’s rapprochement with Ethiopia and thawing of relations with Djibouti Diplomats, speaking on condition of anonymity, said the 15-member council completed negotiations on Monday and agreed on a

The World Bank has approved an International Development Association (IDA) package of $20 million to support Djibouti’s efforts to improve the living conditions for residents of urban areas, achieve its Zero Slum strategy. Funded with a US$20 million from IDA, the World Bank’s fund for the poorest countries, combining credit and grant, the Integrated Slum