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

By Reuters Oil prices climbed for a fourth straight day on Thursday with U.S. crude, heating oil and jet fuel stocks growing tighter just as a wintry blast hits the United States and travel is set to soar for its holiday season. Brent crude futures gained 13 cents, or 0.16%, to $82.33 at 0713 GMT,

Rwanda’s President Paul Kagame. Credit Photographer Michaela Rehle/Reuters By The East African Rwandan President Paul Kagame was a vocal defender of Africa’s quest to expand its economic partnership with China, saying the continent has a right to seek partners and China is filling a gap for investment. This is after President Joe Biden’s administration sought

By Business Daily Africa President William Ruto met top executives of Delta Air Lines in his American trip where he launched the government bid to sell its entire 48.9 per cent stake in Kenya Airways. The President held a meeting with executives from Delta Air Lines Inc., the largest US carrier by market value, last

By Reuters The International Monetary Fund (IMF) executive board has approved a 46-month $3 billion financial support package for Egypt, saying it will catalyse additional funding of about $14 billion, the fund said in a statement. The package, Extended Fund Facility (EFF), includes a flexible exchange rate regime and enhanced social safety nets to protect

Chancellor of the Exchequer Jeremy Hunt leaves 10 Downing Street in London, Britain, October 14, 2022. Photographer Henry Nicholls/Reuters By Reuters Britain’s inflation fell more sharply than expected in November to 10.7% from October’s 41-year high of 11.1%, according to the official consumer prices data, offering some comfort to the Bank of England (BoE) as

By Business Daily Africa Kenyan millionaire investors are worried about inflation the most, according to a new global wealth survey by Standard Chartered Plc. Of the Kenyan respondents who participated in the survey, 50 per cent said rising inflation is the biggest obstacle to achieving their new goals. Other significant concerns were uncertainty in the

The New York Stock Exchange is seen in New York, Tuesday, June 14, 2022. (AP Photo/Seth Wenig, File) By The Associated Press Stocks wavered between small gains and losses on Wall Street Wednesday, leaving prospects uncertain for the market to break a four-day losing streak. The S&P 500 fell 0.1% as of 10:14 a.m. Eastern.

Absa Bank Limited will list new units of the gold-backed exchange-traded fund By Business Daily Africa South Africa’s Absa Bank Limited will list new units of the gold-backed exchange-traded fund (ETF) after investors bought all that had been supplied on the Nairobi Securities Exchange (NSE). The bank says it will make an order of 250,000

Minister of Finance of the Federal Government of Somalia Mr Elmi Mohamoud Nur today met with the Minister of International Development of the Norwegian Government, Anne Beathe, who visited the country in Mogadishu. The meeting between the Minister of Finance of Somalia and the Minister of International Development of Norway discussed the development of the