By Anadolu Agency Turkey is establishing an energy base on the seabed in the Black Sea, President Recep Tayyip Erdogan said, adding that the gas “hopefully” will be available to use next year. Erdogan’s remarks came during a gas supply ceremony, which he joined by video conference, for four districts of the Black Sea province

British Chancellor of the Exchequer Jeremy Hunt looks on outside Number 10 Downing Street, in London, Britain November 1, 2022. Photographer Hannah McKay By Reuters Finance minister Jeremy Hunt said he will raise taxes and cut spending this week to show Britain can fix its public finances and restore its economic credibility after the financial

Millennium Bridge with the City of London financial district. Photographer Hannah McKay By Reuters Britain’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week. Economic

Central Bank of Kenya Governor Patrick Njoroge By Business Daily Africa Kenya’s import cover has dropped to the lowest levels in seven years, reflecting lower foreign funding amid a faster growth in imports than exports and a slowdown in remittances from Kenyans abroad. Latest Central Bank of Kenya data shows the stockpile of foreign currencies

President William Ruto (left) and UK prime minister Rishi Sunak By Daily Nation President William Ruto has met with UK Premier Rishi Sunak on the sidelines of the COP27 climate summit in Sharm-el-Sheik, Egypt. In a statement following their meeting, the British High Commission on Kenya revealed that the two leaders have inked a deal

Kenyan Railway By The African Exponent In what supporters of President William Ruto have termed an act of transparency and good governance, the government of Kenya has fulfilled one of its campaign promises by making public the Chinese agreement for the $3b railway in the country. The documents of the massive Kenya project were made

African Development Bank president Akinwumi Adesina By Reuters The African Development Bank raised $31 billion in investment commitments for projects during the Africa Investment Forum, said the bank’s president Akinwumi Adesina at the end of the three-day meeting on Friday. It brings the total investment for the year to about $64 billion, said Adesina. The

The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye, Russia. (AP Photo, File) By The Associated Press A Japanese consortium has decided to retain its stake in the new Russian operator of the Sakhalin-1 oil and gas project and is set to notify Moscow,

The Bank of England, at the financial district in London, Thursday, Nov. 3, 2022. (AP Photo/Kin Cheung) By The Associated Press The Bank of England rolled out its biggest interest rate increase in three decades Thursday, saying the move was needed to beat back stubbornly high inflation that is eroding living standards and is likely

African Development Bank president Akinwumi Adesina speaks during the opening ceremony of the Africa Investment Forum 2022 By The East African African leaders have said the continent’s investment risk has been exaggerated, making investors hesitant to put their money in its development projects. Quoting a Moody’s Analytics report on defaults on infrastructure investments, African Development