Business

Oil down as strong dollar offsets US supply disruptions

By Anadolu Agency Soaring natural gas prices are also limiting downward trend in crude Oil prices decreased on Friday over a stronger dollar, which hit a three-week high on Friday, however, declines were limited due to the slower-than-expected supply recovery following two hurricanes in the US. International benchmark Brent crude was trading at $75.43 per

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US threatens to ban Chinese firms’ trading in 2024 over market regulations

By Anadolu Agency Gary Gensler says Chinese firms could be prohibited trading from markets if they fail to comply with regulations The US’ Securities and Exchange Commission (SEC) Chairman Gary Gensler warned that Chinese firms might be kicked out of American stock exchanges in 2024 unless they comply with regulations. The head of the US

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EU’s high-tech product sales drop in 2020

By Anadolu Agency Pharmacy sector takes lion share with $110.6B The European Union posted a 7% decline in high-tech product sales in 2020 to stand at €311 billion ($354.5 billion), the bloc’s statistical department said on Tuesday. Despite this decrease, sold production of these products had been rising since 2010, with an average annual increase

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London seizes Sh2bn SportPesa firm’s assets

Sportpesa CEO Ronald Karauri. By Business Daily Africa The UK government is set to inherit Sh2 billion worth of assets held by Liverpool-based SPS Sportsoft Limited, a gambling software and support services firm which has the same shareholders as SportPesa. The company’s biggest client, Kenya-based Pevans East Africa Limited, ceased operations in 2019 after the

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Stocks struggle for momentum on inflation and taxation fears

A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, February 26, 2020. REUTERS/Athit Perawongmetha/File Photo Reuters By Sujata Rao World stocks started the week on the backfoot on Monday, slipping to

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US stock indexes edge lower, on track for weekly losses

In this photo provided by the New York Stock Exchange, floor traders, including Phyllis Arena Woods, right, gather in remembrance on the eve of September 11th, on the Exchange trading floor, Friday Sept. 10, 2021. (Courtney Crow/New York Stock Exchange via AP) Associated Press By DAMIAN J. TROISE and ALEX VEIGA Stocks edged lower in

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Kenya’s economy shrinks by 0.3pc in year of Covid-19 pandemic

National Treasury and Ministry of Planning Cabinet Secretary Ukur Yatani during launch of the 2021 Economic Survey Report on September 9, 2021/Daily Nation Jeff Angote. By Daily Nation Kenya’s economy contracted by 0.3 per cent in 2020 compared to a 5 per cent growth in 2019, as it took a hit from the Covid-19 pandemic.

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World shares slip as Fed signals ‘downshift’ in economy

A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 9, 2021. Shares fell in Asia on Thursday after further

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Bitcoin bruised after chaotic debut as legal tender in El Salvador

A sign reads: “Exclusive Bitcoin register” in a Starbucks store where the cryptocurrency is accepted as a payment method, in San Salvador, El Salvador September 7, 2021. REUTERS/Jose Cabezas By Reuters Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1/2 months as El Salvador’s historic adoption of the crypto asset

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Farmajo Receives Credentials from EU Ambassador

Photo/Somali Times The outgoing President of the Federal Republic of Somalia, Mohamed Abdullahi Farmajo, received credentials from the new Ambassador of the European Union, Tiina Intelmann at the Presidential Palace. The new EU Ambassador to Somalia, Tiina Intelmann, shared with the President her commitment to strengthening relations and cooperation between Somalia and the European Union,

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