By Reuters The Turkish central bank’s net international reserves fell $1.26 billion to $12.62 billion in the week to Aug. 26, central bank data showed on Thursday. The exchange rate used by Reuters on Thursday was 18.1466. In early August, the net forex reserves touched $15.68 billion, their highest level since late April but have

By Reuters Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country’s quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19. The IMF said in a statement that the new Extended Credit Facility arrangement would provide total

By Anadolu Agency French Finance and Economy Minister Bruno Le Maire warned Tuesday that a complete cutoff of Russian gas exports to France combined with a difficult winter could impact the country’s economy. “We have to anticipate the possibility of a complete cutoff of Russian gas exports to France…We have to prepare a scenario in

By The East African Three national airlines in the region Kenya Airways, Uganda Airlines and Air Tanzania are flying in the loss-making zones and could remain in trouble for years to come, experts have warned. For instance, Uganda Airlines, in the news for the past fortnight as a parliamentary oversight committee probed its operations, could

The Prime Minister of Somalia, Mr. Hamza Abdi Barre, who is currently in Tunisia, had a special meeting with the Minister of Foreign Affairs of Japan, Mr. Yoshimasa Hayashi, while on the other hand, the TICAD8 international conference between the Japanese government and African leaders. Prime Minister Hamza and Yoshimasa Hayashi, in a meeting, talked

Japan’s Prime Minister Fumio Kishida Reuters/File Photo By Reuters Japan pledged $30 billion in aid for development in Africa on Saturday, saying it wants to work more closely with the continent, with the rules-based international order under threat after Russia’s invasion of Ukraine. Addressing a Japan-Africa summit in Tunisia, Prime Minister Fumio Kishida said Tokyo

By Anadolu Agency Oil prices gained more than 5% during the week ending Aug. 26, over looming supply concerns as Saudi Arabia signaled possible output cuts due to extreme market volatility and with signs of rebounding oil demand in the US, the world’s largest oil consumer. Brent crude was trading at $101.02 per barrel at

A gas cooker is seen in Boroughbridge. Reuters/Nigel Roddis By Reuters British energy bills will rise 80% to anaverage of 3,549 pounds ($4,188) a year from October, regulator Ofgem said on Friday, calling it a “crisis” that needed to be tackled by urgent and decisive government action. Ofgem CEO Jonathan Brearley said the rise would

Chinese President Xi Jinping (R) with Kenyan President Uhuru Kenyatta in Beijing on April 25, 2019 By Business Daily Africa The elevation of Kenya to the middle-income status saw China lock the country out of a new list of African nations that will receive a Beijing debt relief this year, under a plan by the

The London Stock Exchange Group offices are seen in the City of London, Britain, Photographer Reuters/Toby Melville By Reuters UK’s FTSE 100 tumbled to near three-week lows on Wednesday after economic data highlighted growing risks of a recession, while investors braced for hawkish views from central bank policymakers as inflationary pressures remain elevated. The blue-chip