Tullow Oil tanks in Turkana County, Kenya By The East African British exploration firm, Tullow Oil has assumed full ownership of the Kenya crude project in Turkana after its joint venture partners Africa Oil Corp and Total Energies exited. Tullow said that it has been informed by its two minority partners of their intention to

International Monetary Fund Managing Director Kristalina Georgieva arrives in Downing Street for a Cabinet meeting, in London, Tuesday, May 23, 2023. (James Manning/PA via AP) By The Associated Press The British economy will avoid falling into recession this year, according to upgraded growth forecasts Tuesday from the International Monetary Fund. In its latest assessment of

Democratic Republic of Congo’s President Felix Tshisekedi arrives for a summit in Bujumbura, Burundi on May 6, 2023/Reuters By Reuters The President of minerals-rich Democratic Republic of Congo, Felix Tshisekedi, will visit China from May 24 to 29 and is expected to meet President Xi Jinping to review and sign several key trade deals. A

By Business Daily Africa Kenya’s bilateral debt repayments towards China-funded infrastructure projects have grown by nearly half to a new record of Sh107.42 billion this financial year on the back of increased clearance of principal sums after the grace period lapsed. The expenditure data published by Treasury Cabinet Secretary Njuguna Ndung’u shows the amount repaid

File – An SGR cargo train travels from the port containers depot on a Chinese-backed railway costing nearly $3.3 billion, opened by Kenya’s president as one of the country’s largest infrastructure project since independence, in Mombasa, Kenya, on May 30, 2017, as part of a plan to link a large part of East Africa to

An Aston Martin Valkyrie car is driven off the production line at the company’s factory in Gaydon, Britain, March 16, 2022. Photographer Phil Noble/Reuters By Reuters Aston Martin’s shares jumped nearly 25% on Thursday after the luxury carmaker announced a 234 million pound investment by China’s Geely, doubling the automotive firm’s stake to make it

By Business Daily Africa Kenya Airways (KQ) is among several State entities that the Treasury has denied funding in the financial year starting July 1, to pave the way for restructuring. Treasury PS Chris Kiptoo told Parliament that KQ, as is known by its international code, has not received any bailout in the financial year

By Reuters As talks over raising the U.S. government’s $31.4 trillion debt ceiling intensify, Wall Street banks and asset managers have begun preparing for fallout from a potential default. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time, the relatively short time frame for reaching a

The government of Somalia and the government of Saudi Arabia signed an agreement that allows restructuring of the debts owed to Somalia. Somalia’s Finance Minister Elmi Nur and the chief executive of the Saudi Development Fund, Sultan Abdirahman Al-Marshad, signed the agreement at a ceremony held in Jeddah. Read: Somalia’s president Hassan Sheikh history of

By Business Daily Africa President William Ruto’s administration has stepped up expenditure on the Nairobi-Mombasa Standard Gauge Railway (SGR) with a plan to hit Sh100 billion in the next three years to revamp the line, build new sidings and buy more locomotives and cargo wagons. A report by the National Treasury shows that the Transport