Business

Asian shares fall amid interest rate, earnings worries

A woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong share index in Hong Kong, Monday, April 25, 2022. Asian shares declined Monday after U.S. stocks ended last week on a tumble as global markets’ expectations for higher interest rates continued to set the tone. (AP Photo/Kin Cheung) By

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Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income

File Photo: Saudi Arabia’s Crown Prince Mohammed bin Salman attends a meeting with U.S. Secretary of State Mike Pompeo in Jeddah, Saudi Arabia, September 18, 2019. Mandel Ngan/Pool via Reuters/File Photo By The Wall Street Journal Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and

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Top Ten African Countries With the Highest Inflation Rate in 2022

By The African Exponent Inflation has long been regarded as one of the world’s greatest enemies to wealth creation because it erodes the value of money. In Africa, inflation is so persistent, though many of those who are affected are unaware of it. They do, however, feel the impact in the form of higher costs

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Russia-Ukraine war to have severe economic impact for Europe: IMF

By Anadolu Agency Russia’s war on Ukraine will have severe economic consequences for Europe, coming at a time when economic recovery from the coronavirus pandemic was incomplete, the International Monetary Fund (IMF) said in a report on Friday. “Large increases in commodity prices and compounded supply-side disruptions will further fuel inflation and cut into households’

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UK economy stumbles as consumers, firms brace for downturn

A person pushes a shopping cart next to the clubcard price branding inside a branch of a Tesco Extra Supermarket in London, Britain, February 10, 2022. Picture taken February 10, 2022. Reuters/Paul Childs By Reuters Britain’s economy is losing steam as households face a tightening cost-of-living squeeze, according to data published on Friday which showed

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Musk says he has $46.5B in financing ready to buy Twitter

File – Tesla and SpaceX CEO Elon Musk arrives on the red carpet for the Axel Springer media award in Berlin on Dec. 1, 2020. Musk says he has lined up $46.5 billion in financing to buy Twitter, and he’s trying to negotiate an agreement with the company. The Tesla CEO says in documents filed

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Japan overtakes China in fresh Kenya loans race

President Uhuru Kenyatta at State House, Nairobi, with State of Japan Ambassador to Kenya Okaniwa Ken. On the right is Foreign Affairs Cabinet Secretary Raychelle Omamo By Business Daily Africa China has cut fresh financial commitment to Kenya’s development projects by nearly four times in seven years, falling behind Japan on the list of top

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Egypt-based firm to set up Kenya vehicle assembly

By Business Daily Africa Egypt’s listed auto dealer Ghabbour Auto (GB Auto) plans to establish a joint venture to assemble and distribute passenger vehicles in Kenya. The company made the announcement last week following a board meeting in a regulatory filing to the Egyptian Exchange (EGX) seen by the Business Daily. The firm, which deals

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Oil and gas for Europe: Will Africa become a new energy hub?

By Raven Tribune Although occupier Russia is threatened by sanctions, there is speculation as to how much Africa needs to become an oil and gas supplier. The continent is already positioning itself. Somalia is considered a dangerous place and a failed state: it has been shaped by tribal wars, drought and the terrorism of al-Shabaab,

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UK inflation hits 30-year high of 7%, adding to pressure on government

A man walks past a fruit and vegetable shop at Brixton Market, amid the spread of the coronavirus disease (COVID-19), in London, Britain, September 27, 2020. REUTERS/Simon Dawson By Reuters British consumer price inflation leapt to its highest level in three decades last month, intensifying the pressure on embattled Prime Minister Boris Johnson and his

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