Signage of the World Bank. Photo/Pool By Business Daily Africa The size of Kenya’s debt from the World Bank crossed Ksh1.5 trillion ($9.99 billion) in June on increased disbursements and depreciation of the shilling. Fresh data published by the Central Bank of Kenya shows Kenya’s outstanding loan to the multilateral lender stood at Ksh1.57 trillion

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Reuters/Nick Oxford//File Photo By Reuters Oil prices dipped on Tuesday following the previous session’s slump, while a flurry of economic

By The African Exponent Tanzania has entered into a 30-year port management agreement with the United Arab Emirates (UAE) that has generated opposition, but aims to enhance the nation’s port capabilities. The deal involves Dubai Port (DP) World assuming control of four berths or quays at Dar es Salaam, Tanzania’s largest port, and partnering with

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. Reuters/Drone Base/File Photo By Reuters Oil prices were up on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, and global inventories

Kenya has started talks with the International Monetary Fund and other development financial institutions for a new loan. Photo/Shutterstock By Business Daily Africa Kenya has started talks with the International Monetary Fund (IMF) and other development financial institutions for a new loan to help it settle the $2.0 billion (Sh297.6 billion) Eurobond whose repayment is

The Central Bank of Kenya in Nairobi By Business Daily Africa Kenya’s financial markets standing on the continent has taken a major beating from the country’s foreign exchange trouble tied to dollar shortages and a fall of forex reserves. According to the 2023 Absa Africa Financial Markets Index, to be launched on Tuesday, Kenya’s country

By Reuters U.S. stock futures slid on Monday as the military conflict in the Middle East lifted oil and Treasuries, while the sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week. Holidays in Japan and South Korea made for thin conditions but the initial bid was for bonds

The Central Bank of Kenya in Nairobi By Business Daily Africa Soaring fuel prices have handed the Central Bank of Kenya (CBK) a new price stabilisation headache ahead of its key policy rate meeting on Tuesday. International oil prices have continued to rise in recent weeks, driven primarily by tight supply and resilient demand. Murban

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. Picture taken with a drone. Reuters/Tatiana Meel/File Photo By Reuters Oil prices rose by more than $1 a barrel on Wednesday as

Thailand’s Prime Minister Srettha Thavisin speaks during a press conference after a weekly cabinet meeting at the government house in Bangkok, Thailand, September 13, 2023. Photographer Athit Perawongmetha/File Photo By Reuters Thailand’s Prime Minister Srettha Thavisin said on Sunday the country expected to receive investment of at least $5 billion from Tesla, Google and Microsoft.