Business

China-Arab states cooperation accelerates building of community with shared future

Chinese President Xi Jinping shakes hands with Bahrain’s King Hamad bin Isa Al Khalifa in Beijing, capital of China, May 31, 2024. Xi held talks with Hamad at the Great Hall of the People in Beijing on Friday. Hamad, who is in China on a state visit, attended the opening ceremony of the 10th ministerial

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UK-China business leaders convey confidence in business tie

Zhang Jinlong, chairman of the UK Chinese Business Association, speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the

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AfDB aims to boost infrastructure funding as African growth accelerates

By Reuters Africa’s economic growth is set to accelerate to 3.7% this year and 4.3% next from 3.1% in 2023, African Development Bank (AfDB) President Akinwumi Adesina said on Wednesday, expressing hope that the bank can boost infrastructure investment with IMF help. “African economies are experiencing great resilience despite the challenges posed by climate change,

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Tanzania President Samia eyes more Chinese loans at this year’s Focac

Credit Photo Facebook/Tanzania’s President Samia Suluhu Hassan By The East African President Samia Suluhu Hassan will visit China in September for the Forum for China-Africa Cooperation (Focac), where she is expected to sign new loan deals as Tanzania begins to implement a freshly revised foreign policy. According to the Ministry of Foreign Affairs and East

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China back to funding SGR connecting Kenya and Uganda

Workers laying tracks for the Standard Gauge Railway Phase 2A at Suswa section in Narok, Kenya By The East African Kenya has secured a commitment from China’s Exim Bank for the funding of the standard gauge railway line from Naivasha to the Uganda border. Kipchumba Murkomen, Kenya’s Cabinet Secretary of Roads and Transport, said that

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London stocks dip as global rates outlook weighs

The outside of the London Stock Exchange building is seen in the City of London, March 7, 2005. Photographer Toby Melville/File Photo By Reuters London stocks fell on Friday, tracking weakness in global markets after U.S. Federal Reserve officials indicated interest rates may stay high for longer, while GSK slipped after selling is remaining stake

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Industrial scale of Sino-German cooperation in Beijing grows to 40 bln yuan

This photo taken on April 26, 2024 shows a BMW electric vehicle displayed at the signing ceremony for deepening strategic cooperation between BMW and Shenyang, in Shenyang, northeast China’s Liaoning Province. Photographer Pan Yulong By Xinhua News Agency The Beijing China-Germany economic and technological cooperation demonstration zone has attracted more than 100 German enterprises, reaching

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East Africa trades more with its African peers than with EU, Asia

File Photo/Somali Times By The East African East African Community (EAC) member states are increasingly trading with one another and with other African countries, while reduce their trade with Europe, Asia, and other parts of the world, shaping the intra-Africa trade dream projected to boost commerce and livelihoods on the continent. The seven countries in

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BP profit slides by 40% as refinery outage offsets higher output

The logo for a BP petrol station is seen in London, Britain, September 24, 2021. Photographer Toby Melville By Reuters BP’s, opens new tab first-quarter earnings plunged by 40% to $2.7 billion, missing forecasts after lower energy prices and a U.S. refinery outage offset increased oil and gas production. The London-based company held its dividend

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Debt, pending bills batter Africa economies in 2024

File Photo/Somali Times By The East African Several African countries reeling under the weight of economic and political problems are banking on rescue interventions from the World Bank and the International Monetary Fund (IMF), which are now holding their annual spring meets in Washington DC. Read: Africa’s $824 billion debt burden and opaque resource-backed loans

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