Business

Top 10 Wealthiest Presidents in Africa

Kenya, President Uhuru Kenyatta: Credit to Photo/Business Daily Africa By The African Exponent There is an unspoken understanding that the office of presidency is the most lucrative position to uphold. Africa is a continent endowed with an abundance of human capital and resources like crude oil and gold that drive the global economy. But despite

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Turkey, Saudi Arabia striving to increase all kinds of relations: Turkish president

By Anadolu Agency Turkey and Saudi Arabia are striving to increase all kinds of political, military and economic relations to start a new era, the Turkish president said early Friday. “We paid a visit to Saudi Arabia upon the invitation of Hadimu’l Haremeyn,” or “the Servant of Mecca and Medina,” said Recep Tayyip Erdogan, referring

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Europe struggles for clarity on Russia’s roubles-for-gas scheme

European Union flags fly outside the European Commission headquarters in Brussels, Belgium, April 10, 2019.Reuters /Yves Herman/File Photo By Reuters The European Commission on Thursday warned buyers of Russian gas they could breach sanctions if they converted gas payments into roubles, as officials struggled to clarify the EU’s stance on Moscow’s payments scheme, which has

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Algeria threatens to cut off gas supplies to Spain

By Anadolu Agency Algeria threatened Wednesday to cut off gas supplies to Spain if any of the gas winds up in a different location than specified by a contract. Transporting any amount of Algerian gas to a different destination is considered a breach of contractual obligations and would lead to the termination of the contract

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IMF backs Kenya’s cooking gas, loans, gambling tax raise

Signage at the International Monetary Fund (IMF) headquarters in Washington, DC: Credit to Photo/AFP By Business Daily Africa The International Monetary Fund (IMF) has backed Kenya’s recent taxation of essential goods and services like cooking gas and bank loan fees, arguing additional cash raised have helped cushion against higher cost of fuel and fertiliser in

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Kenya eyes $244m budget support from IMF

The International Monetary Fund plans to release $244 million to Kenya to finance its budget: Credit to Photo/AFP By The East African The International Monetary Fund (IMF) plans to release $244 million to Kenya to finance its budget “in the coming weeks” after its staff expressed their satisfaction with Nairobi’s economic reforms in the face

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Poland, Bulgaria say Russia suspending natural gas supplies

File – A Belarusian worker on duty at a gas compressor station of the Yamal-Europe pipeline near Nesvizh, some 130 km (81 miles) southwest of the capital Minsk, Belarus, Dec. 29, 2006. Officials in Poland and Bulgaria say Russia is suspending their countries’ natural gas deliveries starting on Wednesday. The governments of the two European

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Analysis: Bank of England enters uncharted territory as bond sales near

People walk past the Bank of England in London, Britain, October 17, 2017. Reuters/Hannah McKay By Reuters The Bank of England looks set to take its first steps next week towards selling some of the 875 billion pounds ($1.11 trillion) of government bonds it amassed between 2009 and 2021, leading markets into uncharted territory. Investors

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UK’s Sunak faces new headache as borrowing figures overshoot forecast

The City of London financial district can be seen as people walk along the south side of the River Thames, amid the coronavirus disease (COVID-19) outbreak in London, Britain, March 19, 2021. Reuters/Henry Nicholls By Reuters British government borrowing in the recently ended 2021/22 financial year was almost 20% higher than forecast by the country’s

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Sterling falls to lowest since September 2020 versus dollar

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company’s headquarters in Vienna, Austria, November 16, 2017. Reuters/Leonhard Foeger//File Photo By Reuters Sterling fell on Monday to its lowest since September 2020 against a strengthening dollar and edged lower versus the euro, while money markets scaled back their bets

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