Business

Kenya seeks IMF aid to repay China loans

Public Debt Management Office Director General Haron Sirima. By Business Daily Africa Kenya is considering using funds from the International Monetary Fund (IMF) to repay Chinese loans after it dropped an earlier request to defer debt payments. The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets,

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Asian shares extend losses as China worries darken sentiment

A man walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, Sept. 21, 2021. Asian shares declined Tuesday, with Tokyo down 2% as worries about heavily indebted Chinese real estate developers weighed on sentiment. (AP Photo/Vincent Yu) Associated Press By YURI KAGEYAMA TOKYO

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Stocks are heading for their biggest slump in almost a year

A woman walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Sept. 20, 2021. Shares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with both Tokyo and Shanghai closed. (AP Photo/Vincent Yu) Associated Press By DAMIAN J.

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Kenya to get a cut from nurses in deal with UK

President Uhuru Kenyatta with British Prime Minister Boris Johnson in July. By Daily Nation The government will get a percentage of the cash that Kenyan nurses will make in the UK following the deal made by President Uhuru Kenyatta and Prime Minister Boris Johnson in July. The deal is similar to the one made by

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Oil down as strong dollar offsets US supply disruptions

By Anadolu Agency Soaring natural gas prices are also limiting downward trend in crude Oil prices decreased on Friday over a stronger dollar, which hit a three-week high on Friday, however, declines were limited due to the slower-than-expected supply recovery following two hurricanes in the US. International benchmark Brent crude was trading at $75.43 per

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US threatens to ban Chinese firms’ trading in 2024 over market regulations

By Anadolu Agency Gary Gensler says Chinese firms could be prohibited trading from markets if they fail to comply with regulations The US’ Securities and Exchange Commission (SEC) Chairman Gary Gensler warned that Chinese firms might be kicked out of American stock exchanges in 2024 unless they comply with regulations. The head of the US

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EU’s high-tech product sales drop in 2020

By Anadolu Agency Pharmacy sector takes lion share with $110.6B The European Union posted a 7% decline in high-tech product sales in 2020 to stand at €311 billion ($354.5 billion), the bloc’s statistical department said on Tuesday. Despite this decrease, sold production of these products had been rising since 2010, with an average annual increase

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London seizes Sh2bn SportPesa firm’s assets

Sportpesa CEO Ronald Karauri. By Business Daily Africa The UK government is set to inherit Sh2 billion worth of assets held by Liverpool-based SPS Sportsoft Limited, a gambling software and support services firm which has the same shareholders as SportPesa. The company’s biggest client, Kenya-based Pevans East Africa Limited, ceased operations in 2019 after the

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Stocks struggle for momentum on inflation and taxation fears

A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, February 26, 2020. REUTERS/Athit Perawongmetha/File Photo Reuters By Sujata Rao World stocks started the week on the backfoot on Monday, slipping to

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US stock indexes edge lower, on track for weekly losses

In this photo provided by the New York Stock Exchange, floor traders, including Phyllis Arena Woods, right, gather in remembrance on the eve of September 11th, on the Exchange trading floor, Friday Sept. 10, 2021. (Courtney Crow/New York Stock Exchange via AP) Associated Press By DAMIAN J. TROISE and ALEX VEIGA Stocks edged lower in

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