Business

EU plans tightening foreign investment with eye on China

European Commission Vice Presidents Margrethe Vestager, center, Valdis Dombrovskis, left, and EU Commissioner for Internal Market Thierry Breton participate in a media conference on the proposal for a Regulation to address distortions caused by foreign subsidies in the Single Market and on the European Industrial Strategy Update at EU headquarters in Brussels, Wednesday, May 5,

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UAE topples UK as third largest buyer of Kenyan tea

Women pick tea leaves at a farm. The United Arab Emirates (UAE) overtook the United Kingdom (UK) as the third-largest buyer of Kenyan tea in February, underling the Covid-related upheavals of key target markets. The Tea Directorate data shows that buyers in the UAE snapped up 4.22 million kilogrammes of Kenyan tea in February, toppling

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Uhuru, Suluhu in deal to build Dar-Mombasa LNG pipeline

President Uhuru Kenyatta with Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania at State House, Nairobi. By BRIAN NGUGI Kenya and Tanzania yesterday signed a deal to build a liquefied natural gas (LNG) pipeline from Dar es Salaam to Mombasa that will be used for electricity generation and possibly for cooking

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World markets mixed after strong earnings, data lift Wall St

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street. (AP Photo/Ahn Young-joon) By ELAINE KURTENBACH Shares were mixed in Europe and Asia on

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UK and US urge G7 to ally against threats from Russia and China

Antony Blinken, left, and Dominic Raab hold a press conference after their meeting in London on Monday. Photograph: Reuters By Patrick Wintour and Vincent Ni Dominic Raab and Antony Blinken call for defence of open societies and rules-based order Antony Blinken, the US secretary of state, and the UK foreign secretary, Dominic Raab, have called

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Prime Minister Roble meets with Qatar envoy Al-Qahtani

Photo/Somali Times The Prime Minister of the Federal Republic of Somalia Mohamed Hussein Roble met with the Qatar envoy Dr. Mutlaq Al-Qahtani in Mogadishu. Prime Minister Roble and Dr Al-Qahtani discussed political differences between the central government and the federal state leaders, promising that the Qatari government would stand by a joint election. Dr. Mutlaq

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Kenya most expensive in East Africa in mobile internet affordability index

By Faustine Ngila You are now paying twice as much for mobile internet compared to last year, according to the latest report by British technology research firm Cable. The report, Worldwide Mobile Data Pricing 2021, discloses that Kenyans are paying Sh244 per every one gigabyte of mobile data, compared to Sh112 in 2020, on average.

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Turkey’s exports hit $50B in Q1

Export-import coverage ratio at 81.9% in January-March period, according to TurkStat data Turkey’s exports increased 17.2% on an annual basis to reach $50 billion in the first quarter of 2021, the country’s statistical authority said on Friday. Imports during the January to March period were up 9.6% to reach $61.2 billion, leaving the foreign trade

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Partner in failed Saudi takeover bid of Newcastle football club is major Tory donor

Newcastle United football club badge, 23 March 2019 [Kelly McClay/Flickr] As allegations of cronyism continue to bog down the ruling Conservative party, it’s now emerged that a co-investors in the Saudi-led consortium behind last year’s failed takeover bid of Newcastle United Football Club is a major Tory donor and a friend of Prime Minister Boris

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Exclusive Major Chinese investors in talks to take Aramco stake -sources

General view of Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo By Kane Wu, Alex Lawler, Tom Arnold Major Chinese investors are in talks to buy a stake in Saudi Aramco several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to

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