A person buys produce from a fruit and vegetable market stall in central London, Britain, August 19, 2022. Photographer Henry Nicholls/File Photo By Reuters The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July in a new blow for households grappling

By Malay Mail International Monetary Fund (IMF) staff yesterday reached a staff-level agreement with Somalia that will allow the release of about US$10 million (RM47 million) to the East African country, once approved by the board, the head of the IMF mission told Reuters. IMF mission chief Laura Jaramillo said the deal came after an

By The East African East African countries are facing an immediate risk of defaulting on their loans in the coming months due to a combination of rising debt servicing costs, more borrowing, rising costs of imports and higher inflationary pressures associated with the continued appreciation of the dollar. And this may undermine prospects of a

New Chancellor of the Exchequer Jeremy Hunt arrives at Downing Street in London, Britain, October 14, 2022. Photographer Henry Nicholls By Reuters Britain’s new finance minister Jeremy Hunt said on Saturday that some taxes would go up and government spending would rise by less than previously planned as he warned of difficult decisions ahead to

By Anadolu Agency A significant amount of natural gas could be exported to Europe via Turkey, said Russian Deputy Prime Minister Aleksandr Novak on Friday. Novak told Anadolu Agency that South Stream natural gas pipeline – the project that is later cancelled and turned into TurkStream – was planned as four lines with a capacity

By Reuters Saudi Arabia pushed other OPEC+ nations into an output cut last week, the White House claimed on Thursday, part of an escalating war of words between the two countries. “More than one” OPEC member disagreed with Saudi Arabia’s push to cut production and felt coerced into the vote, National Security Council spokesman John

By Anadolu Agency The US is “reviewing” consequences for Saudi Arabia after a decision by OPEC+ to cut oil production, Secretary of State Antony Blinken said Thursday. “We are not only deeply disappointed in that, we think it’s short-sighted. And as the President’s made very clear, that decision has to have consequences and that’s something

By Business Daily Africa Kenya defaulted on repayment of the Chinese loans provided to build the standard gauge railway (SGR), highlighting the country’s struggles with the mounting public debt. The Chinese banks fined Kenya Sh1.312 billion in the year ended June for loan defaults, according to Treasury documents seen by Business Daily. Kenya tapped over

By The Associated Press A new liquefied natural gas project off Africa’s western coast may only be 80% complete, but already the prospect of a new energy supplier has drawn visits from the leaders of Poland and Germany. The initial field near Senegal and Mauritania’s coastlines is expected to contain about 15 trillion cubic feet

By The East African Kenya Airways has reduced its fleet by two more planes as part of cost-cutting measures seeking to steady the loss-making airline. Latest data shows that the national carrier’s fleet size narrowed in the last nine months to 41 aircraft from 43 in December 31, 2021, after two leased Embraer 190 aircraft