The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter/File Photo/File Photo By Reuters Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in

Men wearing protective masks stand in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm as a car passes by in Tokyo Friday, April 9, 2021. Shares fell Friday in most Asian markets after China reported a stronger than expected rise in prices that could prompt authorities to act

File – The logo of the International Monetary Fund is visible on their building, Monday, April 5, 2021, in Washington. Finance officials of the world’s major economies on Wednesday, April 7, 2021 agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support

National Treasury Cabinet Secretary Ukur Yatani. By OTIATO GUGUYU The International Monetary Fund (IMF) warned Kenyans protesting its loans to the government that they face job cuts, tax increases and expensive loans without its assistance. The IMF has released a statement following public outcry over the government’s growing appetite for debt after it approved a

Treasury Cabinet Secretary Ukur Yatani. By OTIATO GUGUYU The government will spend Sh36 billion to bail out key parastatal which have sunk into losses as a result of Covid-19 economic fallout. The National Treasury said companies including Kenya Airways, Kenya Power, and several universities need urgent support after their revenues dropped sharply during the pandemic.

Photo: Credit AFP/Olivier Douliery/The International Monetary Fund Headquarters in Washington, DC. By Paul Wafula Kenya’s public debt has ballooned by more than Sh1 trillion in the last one year under the cover of fighting Covid-19 pandemic. This now makes the period between March 2020 and March 2021 as Kenya’s worst in terms of borrowing, after

Industrialisation, Trade and Enterprise Development CS Betty Maina during SMEs Conference. The Biden administration will review bilateral trade negotiations and targets that ex-President Donald Trump regime made with Kenya last year over a potential free trading deal. The new US administration wants to make sure that the negotiations for a bilateral trade agreement and talks

Photo/Somali Times Acting Somali Minister of Finance Abdirahman Duale Beyle attended the annual meeting of the IMF and the World Bank, which took place on a long-distance basis. The week-long conference was also attended by all Arab finance ministers, according to a statement from the opening of the conference. After the meeting, Beyle had a

African Development Bank president says ‘it is time to put in place an African financial stability mechanism’ Africa needs debt relief, debt restructuring, and debt sustainability, the African Development Bank president said. Akinwumi Adesina was speaking at Monday’s UN Meeting on International Debt Architecture and Liquidity. He said: “It is time to put in place

President Joe Biden speaks during an event on COVID-19 vaccinations, in the South Court Auditorium on the White House campus, Monday, March 29, 2021, in Washington. (AP Photo/Evan Vucci) By JONATHAN LEMIRE, LISA MASCARO and JOSH BOAK WASHINGTON (AP) — President Joe Biden is aiming for summer passage of his sweeping $4 trillion infrastructure plan,