Business

Leaders of China, Russia to attend G20 summit in Indonesia

By Anadolu Agency Chinese President Xi Jinping and Russian President Vladimir Putin will both attend the G20 summit in Indonesia, according to Indonesian President Joko Widodo, who will host this year’s gathering. “Xi Jinping will come. President Putin has also told me he will come,” Widodo said in an interview with US-based news outlet Bloomberg.

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DP World cautions outlook uncertain after record first-half profit

Jebel Ali Port in Dubai, United Arab Emirates/Reuters By Reuters Dubai-owned ports giant DP World reported on Thursday a record $721 million first-half profit boosted by elevated shipping rates but said it expected its profit, revenue and container growth rates to moderate in the rest of the year. The company, one of the world’s biggest

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Myanmar to import Russian oil, military says

Russia’s Foreign Minister Sergei Lavrov attends a meeting with Myanmar’s military leader Min Aung Hlaing in Naypyidaw, Myanmar/Reuters By Reuters Military-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices, a junta spokesperson said, the latest developing country to do so amid a global energy crisis. The Southeast

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UK inflation reaches 10.1% on soaring food, energy costs

By The Associated Press Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of energy. The double-digit surge in consumer prices over a year earlier

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Kenya, Somalia drug trade miraa export hit Sh1 bn in three weeks

Kenya has exported miraa worth Sh1 billion to Somalia in under a month since the resumption of trade coming as a major reprieve to growers who had been hit hard when Mogadishu imposed a ban in 2019. Head of Miraa Pyrethrum and other Industrial Crops Felix Mutwiri says the country has so far exported 375

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Turkey bolsters energy security with Black Sea discoveries: Erdoğan

Turkish President Recep Tayyip Erdoğan speaks during the Çorum Mass Opening Ceremony held at Kadeş Barış Square, Çorum, Turkey, Aug. 13, 2022. (AA Photo) By Daily Sabah Türkey is bolstering its energy security through its exploratory missions in the Black Sea and the Mediterranean, President Recep Tayyip Erdoğan said Saturday. While Europe frets about the

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UK consumer energy debt already at record levels – survey

A gas cooker is seen in Boroughbridge, northern England November 13, 2012. Reuters/Nigel Roddis/ By Reuters British consumer energy debt is already at an all-time high, a survey showed on Wednesday, with six million households owing an average of 206 pounds ($249) to providers, before bills leap in October and again in January. Energy bills

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Kenya new president faces a full in-tray of economic woes

State House in Nairobi By Business Daily Africa The winner of Kenya’s presidential election will have an in-tray full of economic and political challenges to solve when he assumes office. The polls happened in the middle of an economic crisis, with the country struggling with inflation that was at a five-year high of 8.3 percent

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Turkish president Erdoğan says is committed to support Somalia

Credit Anadolu Agency/Turkish President Recep Tayyip Erdoğan Turkish President Recep Tayyip Erdoğan spoke on the phone with corrupt Somali President Hassan Sheikh Mohamoud last night on Sunday. President Erdoğan stressed that Turkey will continue to stand by the Somali people and support the peace and stability of Somalia. The phone conversation comes a little over

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Turkish, Russian leaders underline importance of Russia’s exports of grain, fertilizers

Turkish President Recep Tayyip Erdogan (L) and Russian President Vladimir Putin (R) meet in Sochi, Russia on August 05, 2022. ( Photo Credit: Kremlin Press Office ) By Anadolu Agency Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin on Friday underlined the importance of exports of Russia’s grain and fertilizers. In a

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