By Anadolu Agency Oil prices increased on Thursday, supported by a drop in US crude oil inventories easing demand concerns. International benchmark Brent crude was trading at $102.71 per barrel at 08.45 a.m. local time (0545 GMT) for a 1.02% increase after closing at $101.67 a barrel in previous trade. American benchmark West Texas Intermediate

The World Bank has approved a $100 million grant to support the continuation of Somalia’s economic reform efforts to complete the country’s debt relief. These funds support the government’s efforts to increase financial transparency and increase revenue through the harmonization of federal customs systems and the improvement of central government financial management. Read: Somalia’s president

By Anadolu Agency The International Monetary Fund on Tuesday cut its global economic growth forecast for both 2022 and 2023 amid high inflation, a slowdown in China, and the continued Russian war on Ukraine. According to the IMF’s latest World Economic Outlook, the global economy is projected to grow 3.2% this year, revised 0.4 percentage

Pipes at the landfall facilities of the Nord Stream 1 gas pipeline are pictured in Lubmin, Germany, March 8, 2022. Reuters/Hannibal Hanschke/File Photo By Reuters Russia said it will cut gas supplies to Europe from Wednesday in a blow to countries that have backed Ukraine, while missile attacks in Black Sea coastal regions raised doubts

Reserve Bank of Zimbabwe Governor, John Mangudya holds a sample of a gold coin at the launch in Harare, Monday, July, 25, 2022.Zimbabwe has launched gold coins to be sold to the public in a bid to to tame runaway inflation that has further eroded the country’s unstable currency. (AP Photo/Tsvangirayi Mukwazhi) By The Associated

A Chinese unmanned aerial vehicle is presented during a military parade at Tiananmen Square in Beijing, on 1 October 2019 (AFP) Middle East Eye By Paul Iddon Russia’s invasion of Ukraine has allowed China ‘to fill an arms vacuum globally, not just in the Middle East’, experts say China is expanding its arms exports beyond

The British union flag flutters on the Victoria Tower at the Houses of Parliament, as Parliament is recalled to ratify legislation confirming Britain’s departure from the European Union, in London, Britain December 30, 2020. Reuters/Toby Melville By Reuters Britain said on Friday it was disappointed that the European Commission had brought forward legal action against

By Business Daily Africa Wealthy Kenyans are seeking second homes in St Kitts and Nevis, a two-island county in North America. Reason? Its education system is better, it is affordable to get citizenship because the investment requirement is fairer than in other countries and it is crypto-friendly hence attractive to technology investors and entrepreneurs. St

Kenya and Tanzania presidents By The African Exponent Kenya and Tanzania have increased their foreign debts after both countries received approvals for new loans worth over $1.2 billion. The East African countries received confirmation from the International Monetary Fund (IMF) to disburse the loans. The IMF has agreed to give an additional sum of $235.6

A Petro China worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China June 27, 2018. Reuters/Stringer/File Photo By Reuters Democratic Republic of Congo will offer 27 oil blocks and three gas blocks, nearly double as many as previously planned, in a licensing round next week, the hydrocarbons ministry