An anti-Brexit demonstrator stands outside the venue of the Conservative Party Conference in Birmingham, Britain Photographer Toby Melville/Reuters PA Media By David Hughes Brexit has “permanently damaged” the UK economy, former Bank of England policymaker Michael Saunders warned as London was deposed as Europe’s biggest stock market. The French stock market now has a combined

Managing Director Kristalina Georgieva. Photographer Michele Tanntussi By Reuters The head of the International Monetary Fund on Sunday welcomed a long-awaited debt deal by Chad’s creditors and said it would reduce the African country’s risk of debt distress while guarding it against downside risks, including lower oil prices. “We have been waiting for this day,”

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,