Uganda has emerged as the fastest-growing source of diaspora dollars flowing into Kenya. File Photo Shutterstock By Business Daily Africa Uganda has emerged as the fastest growing source of diaspora dollars flowing into Kenya at a time the remittances from top global sources are slowing down on inflationary pressures squeezing earnings for citizens working abroad.

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Reuters/Alexander Manzyuk/File Photo By Reuters Oil prices were roughly unchanged on Monday as concerns about global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserve offset forecasts of tighter supplies amid OPEC+ cuts. Brent

Dar es Salaam Port, Tanzania. Photo| Rob Beechey | World Bank By The East African Inefficiencies and lack of capacity to manage port facilities amid growing business has forced Kenya and Tanzania to seek the help of DP World, the Emirati logistics major which has a firm grip on the African market. The Dubai-based company

By Reuters Uganda National Oil Co expects to start oil production from the Tilenga project in the first half of 2025, the company’s CEO said on Wednesday. “The drill kits have been put up and the drilling has started,” Uganda National Oil Co CEO Proscovia Nabbanja told Reuters on the sidelines of an Energy Asia

EAC Budget Day (L-R): Finance ministers Njuguna Ndung’u of Kenya, Tanzania’s Mwigulu Nchemba, Matia Kasaija of Uganda and Uzziel Ndagijimana of Rwanda display budget briefcase on June 15, 2023 ahead of presenting them in their respective parliaments By The East African In his budget speech, Prof Njuguna Ndung’u, Kenya’s Treasury Cabinet Secretary, said: “Weare truly

People walk past the New York Stock Exchange on Wednesday, June 29, 2022 in New York. Stocks are opening lower across the board on Wall Street, Tuesday, July 5, and crude oil prices are dropping again. Treasury yields also fell as traders continued to worry about the state of the economy (AP Photo/Julia Nikhinson) By

Woman holds Turkish Lira banknotes in this illustration taken May 30, 2022. Reuters/Dado Ruvic/Illustration/File Photo By Reuters Turkey’s lira weakened as much as 3.3% to a record low on Friday, extending losses a day after the central bank’s large rate hike failed to assure markets that President Tayyip Erdogan was abandoning his long-held unorthodox policies.

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Photographer Toby Melville/File Photo By Reuters UK’s main stock indexes extended declines on Thursday after a massive rate hike by the Bank of England (BoE) to tackle stubborn inflation added to worries of a slowing British economy. The

By Reuters British inflation defied predictions of a slowdown and held at 8.7% in May, putting yet more pressure on the Bank of England a day before it is expected to raise interest rates for the 13th time in a row to tame stubborn price growth. Markets increased their bets on further rate rises following

File Photo: Illustration shows CNPC (China National Petroleum Corporation) logo and stock graph/Reuters By Reuters Qatar is set to secure its second large gas supply deal with a Chinese state-controlled company in less than a year, sources familiar with the deal told Reuters on Tuesday. China National Petroleum Corporation (CNPC) and QatarEnergy are expected to