A cargo train at the Naivasha Inland Container Depot in Kenya By The East African After eight years of non-execution, the Uganda government has terminated the contract of China Harbour Engineering Company (CHEC) to build the country’s first phase of standard gauge railway (SGR), a 273km line from Malaba to Kampala, The EastAfrican has learnt.

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 fell on Wednesday as an unexpected build in crude and fuel inventories in the United States, the world’s biggest oil consumer, and economic uncertainty reignited demand

An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market/Reuters By Reuters Most major Gulf stock markets fell on Thursday, weighed down by concerns over an economic downturn and volatile oil prices, and hawkish U.S. Federal Reserve minutes. Oil prices fell sharply overnight on worries that

File- Flags adorn the facade of the New York Stock Exchange, Wednesday, June 16, 2021. (AP Photo/Richard Drew, File) By The Associated Press Stocks gave up an early gain and stumbled Tuesday on Wall Street’s first trading day of 2023 after closing out its worst year since 2008. The S&P 500 fell 0.9% as of

By Anadolu Agency Turkey’s exports hit an all-time high of $254.2 billion in 2022, President Recep Tayyip Erdogan announced on Monday, citing preliminary data. Despite global challenges, the figure increased by 12.9% from a year earlier, Erdogan told a news conference in Istanbul. “Our goal is to ensure that Turkey takes its place among the

By Anadolu Agency Russian President Vladimir Putin signed a decree Friday allowing “unfriendly” Western countries to pay debts for fuel in foreign currencies. The repayment of debts of the countries will not mean the resumption of Russian gas shipments, according to the decree. The decree changed an earlier decision seeking payment in rubles for gas

A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia. Photographer Tatiana Meel By Reuters Oil prices edged up on Friday, on track for their second straight annual gains, although modest, in a stormy year marked by tight supplies because

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Photographer Brendan McDermid By Reuters Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical

A woman looks at Japan’s Nikkei 225 index and stock prices shown at a securities firm as others walk across an intersection in Tokyo, Tuesday, Dec. 27, 2022. Shares advanced Tuesday in Asia after China announced it would relax more of its pandemic restrictions despite widespread outbreaks of COVID-19 that are straining its medical systems.(AP

African Airlines By African Exponent A recent report by African Airlines Association (AFRAA) revealed that African airlines are expected to lose about $800 million just from the last quarter of the year and a total of $3.5 billion for the year. The report compared the data to 2019 pre-pandemic data. The local travel industry is