EAC Budget Day (L-R): Finance ministers Njuguna Ndung’u of Kenya, Tanzania’s Mwigulu Nchemba, Matia Kasaija of Uganda and Uzziel Ndagijimana of Rwanda display budget briefcase on June 15, 2023 ahead of presenting them in their respective parliaments By The East African In his budget speech, Prof Njuguna Ndung’u, Kenya’s Treasury Cabinet Secretary, said: “Weare truly

People walk past the New York Stock Exchange on Wednesday, June 29, 2022 in New York. Stocks are opening lower across the board on Wall Street, Tuesday, July 5, and crude oil prices are dropping again. Treasury yields also fell as traders continued to worry about the state of the economy (AP Photo/Julia Nikhinson) By

Woman holds Turkish Lira banknotes in this illustration taken May 30, 2022. Reuters/Dado Ruvic/Illustration/File Photo By Reuters Turkey’s lira weakened as much as 3.3% to a record low on Friday, extending losses a day after the central bank’s large rate hike failed to assure markets that President Tayyip Erdogan was abandoning his long-held unorthodox policies.

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Photographer Toby Melville/File Photo By Reuters UK’s main stock indexes extended declines on Thursday after a massive rate hike by the Bank of England (BoE) to tackle stubborn inflation added to worries of a slowing British economy. The

By Reuters British inflation defied predictions of a slowdown and held at 8.7% in May, putting yet more pressure on the Bank of England a day before it is expected to raise interest rates for the 13th time in a row to tame stubborn price growth. Markets increased their bets on further rate rises following

File Photo: Illustration shows CNPC (China National Petroleum Corporation) logo and stock graph/Reuters By Reuters Qatar is set to secure its second large gas supply deal with a Chinese state-controlled company in less than a year, sources familiar with the deal told Reuters on Tuesday. China National Petroleum Corporation (CNPC) and QatarEnergy are expected to

A general shows a view of the gas field of Siba in Basra Iraq. Reuters/Essam Al-Sudani/File Photo By Reuters Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce much-needed natural gas for power stations and cut

By Business Daily Africa Potential investors for the proposed Kenya Airways (KQ) equity stake sale have expressed uneasiness over the national carrier’s heavy debt load, making it the biggest headache for the airline in its search for buyers. KQ managers who have undertaken several scouting missions to weigh the attraction of the company’s equity offer

Chinese workers of the China State Construction Engineering Corporation at the site of the new African Union conference centre in Addis Ababa, Ethiopia work/AFP By The East African Chinese firm CRJE (East Africa) Ltd has been awarded the contract to build headquarters for the African Court on Human and People’s Rights in Arusha, further establishing

Woman holds Turkish Lira banknotes in this illustration taken May 30, 2022. Reuters/Dado Ruvic/Illustration By Reuters Turkey’s lira weakened 0.8% to a record low on Thursday, extending losses after a heavy selloff in the previous session that was seen as a sign of the authorities easing controls on the foreign exchange market. The currency later