File Photo-A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. Reuters/Chris Wattie By Reuters The Bank of Canada on Wednesday raised its benchmark interest rate by a full percentage point, surprising markets with its biggest rake hike since 1998 in a bid to tame soaring inflation. The

People walk past the Bank of England in London, Britain, October 17, 2017. Reuters/Hannah McKay By Reuters The Bank of England’s independence will be put to the ultimate test as it seeks to bring inflation back down to its 2% target from more than 9%, Governor Andrew Bailey said on Tuesday. The cost-of-living squeeze is

Credit to Photo Facebook/Kenya lawmakers at Parliament Buildings By Business Daily Africa Kenya has recalled its MPs to a special session that will renew a Sh9 billion defence pact with the United Kingdom and a raft of other laws a month before the election. The National Assembly reconvenes Wednesday to consider among other businesses the

A trader changes dollars with naira at a currency exchange store in Lagos, Nigeria. Reuters/Joe Penney/File Photo By Reuters African countries’ debts with China are a third of what they owe non-Chinese private lenders, while interest rates are just over half, according to a report published on Monday amid a debate about the role of

File – Elon Musk will participate in a meeting with employees of Twitter on Thursday, June 16, 2022, as the billionaire and social media platform continue to try to push forward on their agreed-to $44 billion acquisition. Twitter confirmed on Tuesday that the meeting will take place, but did not provide any other details about

Times Tower, the headquarters of the KRA, in Nairobi By Business Daily Africa Aggressive tax collection and recovery measures by the Kenya Revenue Authority (KRA) raised revenue collection by a fifth in the year to June 2022, the highest ever annual growth margin recorded by the agency. The tax agency said on Thursday that it

Kenya Airways and Ethiopian Airlines planes at Kamuzu International airport in Malawi By Business Daily Africa African airlines are expected to record $4.1 billion (Sh480 billion) loss this year on the back of expensive fuel that is eroding the gains made by a recovering business. Africa Airlines Association (AFRAA) says expensive jet fuel and other

Photo Somali Times/President Recep Tayyip Erdoğan his Somali counterpart Hassan Sheikh Mohamoud By Daily Sabah Somalia is the main example that shows the importance Turkey attaches to the economic development, social peace and stability of the African continent, President Recep Tayyip Erdoğan said Wednesday. Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017 Speaking at

Turkish President Recep Tayyip Erdogan (R) and Italian Prime Minister Mario Draghi (L) attend a bilateral agreements signing ceremony after their meeting at the Presidential Complex in Ankara, Turkiye on July 05, 2022. ( Photo Credit: TUR Presidency/ Murat Cetinmuhurdar ) By Anadolu Agency Türket and Italy are committed to deepening cooperation in the defense

By Business Daily Africa Kenya will finally launch its international financial centre in the capital Nairobi today after years of preparation to attract large foreign firms and boost capital flows. The Kenyan hub is expected to model Nairobi as a financial district in line with existing financial centres in European, Middle East and the Far