By Reuters Turkey said on Monday that Malaysia and Indonesia had expressed keen interest in buying armed drones from Turkish defence firm Baykar, which has supplied the weapons to several countries after battlefield successes. “Many Asian countries, especially Malaysia and Indonesia, show great interest in our defence industry products. Agreements are being signed,” Turkish foreign

By Reuters The pound plunged to a record low against the dollar early on Monday and British bond prices collapsed as fears mounted over the new government’s fiscal plan, unleashing calls for an emergency Bank of England rate hike to restore confidence. New finance minister Kwasi Kwarteng sent sterling and government bonds into freefall on

A beach in British Virgin Islands, one of the tax havens in the study. Photograph: Alamy The Guardian By Pippa Crerar Political editor Exclusive: Labour vows to end ‘Tory procurement racket’ and reward firms that pay taxes responsibly One in every six public procurement contracts issued by the government over a five-year period were won

In this photo released by Saudi Press Agency, SPA, Saudi Crown Prince Mohammed bin Salman, right, shakes hands with Chancellor Olaf Scholz, after his arrival in Jeddah, Saudi Arabia, Saturday, Sept 24, 2022. (Saudi Press Agency via AP) By The Associated Press German Chancellor Olaf Scholz arrived Saturday in Saudi Arabia for the first stop

By Reuters Tanzania’s central bank will reduce liquidity in the economy in September and October to slow rising inflation in the east African country, a statement from the bank’s monetary policy committee (MPC) published on Saturday said. “In the context of … high inflation and commodity prices, which has contributed to rising inflationary pressures in

By Reuters The downturn in British businesses steepened this month as they battled soaring costs and faltering demand, according to a survey on Friday that hammered home the rising risk of recession. Released just as finance minister Kwasi Kwarteng was due to flesh out the economic agenda of new Prime Minister Liz Truss, the S&P

By Reuters Turkish defence firm Baykar has delivered 20 armed drones to the United Arab Emirates this month and could sell more, two Turkish sources said, as a diplomatic detente between the former regional rivals expands into military contracts. International demand for Baykar’s drones soared after their impact on conflicts in Syria, Ukraine and Libya,

By The Associated Press Dubai-based shipping giant DP World said Tuesday it has won another ruling in a longstanding legal battle over the operation of a strategic port in the African nation of Djibouti. Dubai-based DP World said an appeals court in Hong Kong agreed with its request to keep its lawsuit against China Merchants

By The East African A fertiliser boom is breaking out across Africa as calls for food security gain momentum amidst a widespread continental food crisis. With an estimated 346 million people on the continent negatively impacted by a severe food crisis, according to the Food and Agriculture Organisation (FAO), the use of fertilisers has become

By Business Daily Africa The Treasury has said Kenya will find it challenging to sustain reliance on multilateral lenders like World Bank Group for external funding, signalling a return of costly foreign loans in the first year of the new administration. Kenya has in the past three financial years largely tapped cheaper concessional loans, helping