By Business Daily Africa Kenya’s net foreign assets dropped by Sh87.1 billion in the year to September, the biggest decline yet, indicating that local financial institutions liquidated some of their overseas portfolios. Net foreign assets (NFA) refer to total foreign assets held by banks and the Central Bank of Kenya minus foreign liabilities of the

Containers are seen at the Port of Izmir in western Turkey, Dec. 24, 2021. (AA Photo) By Daily Sabah Turkey’s exports jumped to an all-time high of nearly $225.4 billion (TL 3.03 trillion) in 2021, President Recep Tayyip Erdoğan announced on Monday, far exceeding the medium-term program goal. Exports surged by 32.9% year-on-year in 2021,

Early morning sunlight cuts across residential housing that stretches to the horizon of Istanbul’s skyline in Turkey June 13, 2018. REUTERS/Russell Boyce By Reuters Turkey sharply raised electricity prices by 50-100% for households and companies on Saturday, and again increased monthly natural gas bills, adding to strains in an economy facing soaring overall inflation. The

A man wearing a protective mask looks at an electronic stock board showing Japan’s Nikkei 225 and Shanghai indexes at a securities firm with a traditional New Year decoration at it entrance Wednesday, Dec. 29, 2021, in Tokyo. Asian shares mostly slipped Wednesday, as worries lingered about the coronavirus omicron variant’s potential damage to the

Tanzania’s President Samia Suluhu Hassan addresses delegates after the signing framework agreements with the government of Tanzania in Dar es Salaam, Tanzania December 13, 2021. REUTERS/Emmanuel Herman By Reuters Tanzania on Tuesday signed a contract with Turkish firm Yapi Merkezi to build a 368 km section of standard gauge railway that is expected to cost

A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey September 27, 2021. REUTERS/Cagla Gurdogan By Reuters The lira tumbled almost 8% against the dollar on Monday amid persisting investor concern over Turkey’s monetary policy, having surged more than 50% last week after billions of dollars of state-backed market interventions.

File Photo Somali Times/ Turkey-Africa summit in Istanbul By Euronews At a two-day Turkey-Africa summit, president Tayyip Recep Erdogan addressed what he described as a “great injustice.” “Developments in recent years show us that allowing five member countries of the UN to decide the whole world’s destiny was a mistake,” he told dozens of African

By Anadolu Agency Crude oil prices could hit $100 per barrel due to record high demand in 2023 despite the latest omicron coronavirus variant, according to an analyst from Goldman Sachs. “We have already had record high demand before this newest variant, and now you are adding higher jet demand, and the global economy is

A woman changes Turkish lira for USD at a currency exchange shop, in Ankara, Turkey, Thursday, Dec. 16, 2021. Turkey’s Central Bank again cut a key interest rate Thursday despite soaring consumer prices that are making it difficult for people to buy food and other basic goods, sending the country’s currency to record lows against

A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo/File Photo By Reuters UK’s FTSE 100 slipped on Friday and was on course for a weekly loss, as concerns surrounding the fast-spreading Omicron variant and inflationary risks outweighed