Business

Ethics watchdog asked to assess if Rishi Sunak broke ministerial code

Photo; Credit The Guardian Rishi Sunak and Akshata Murty. The chancellor’s wife has a £430m shareholding in IT multinational Infosys. Photograph: unknown By Juliette Garside Chancellor did not declare wife’s multimillion-pound share portfolio in register of interests The government ethics watchdog has been asked to assess whether the ministerial code was breached by Rishi Sunak

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Global shares mostly rise after Wall Street’s pause

A currency trader talks on the phone near the screens showing the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 26, 2020. Asian shares were mixed Thursday, after Wall Street took a pause from the optimism underlined in a record-setting climb earlier in the week. (AP Photo/Lee Jin-man)

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After borrowing surge, Sunak to announce more spending

Britain’s Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon Dawson By William Schomberg LONDON (Reuters) – British finance minister Rishi Sunak, who has already pledged over 200 billion pounds to fight the COVID-19 crisis, will free up more cash on Wednesday against the backdrop of the heaviest

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Broke Kenya eyes talks on foreign debt cancellation

Treasury Cabinet Secretary Ukur Yatani. The Treasury will try to push wealthy countries and multilateral lenders like the World Bank to cancel part of Kenya’s ballooning public debt, reflecting concerns about the burden of paying creditors from taxes that have been hit hard during the coronavirus pandemic. In a November paper titled Post Covid-19 Economic

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US sues citizen in Sh0.8bn in fake Kenya water project

An abandoned water project in Kenya. The United States markets regulator has filed charges against an American who defrauded American investors $7.2 million (Sh788.3 million) for a fake desalination project in Kenya. Verley Lee “Rocky” Sembritzky, Jr. collected money from unsuspecting Americans and instead used part of the money to buy luxury cars, jewelry, and

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Kenya’s export earnings hit Sh480bn on higher demand

Workers prepare flowers for export. Kenya’s exports receipts grew by six per cent to Sh479.7 billion in the nine months to September, defying the economic knocks of the Covid-19 pandemic, data by the Kenya National Bureau of Statistics (KNBS) shows. ”The strong earnings performance is attributable to foods and beverages exports, which accounted for 47

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Brexit: UK and Canada agree ‘rollover’ deal to continue trading on existing EU terms

Boris Johnson meets Canadian Prime Minister Justin Trudeau at the 2019 G7 summit in Biarritz, France (PA) By Ashley Cowburn Businesses urge PM to redouble efforts on ‘single most critical trade agreement’ with European Union as negotiations go down to the wire The UK and Canada have agreed a “rollover” deal to continue trading under

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Global markets lower after Wall Street falls on virus fears

A currency trader passes by screens showing foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 19, 2020. Asian stocks followed Wall Street lower on Thursday as anxiety about the economic fallout from rising coronavirus infections in the United States and Europe clashed

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IMF Executive Board Completes the First Review of the Extended Credit Facility for Somalia

Photo/Somali Times Implementation of the Extended Credit Facility (ECF) supported program is off to a good start despite the challenges posed by COVID-19, flooding and the desert locust infestation. The authorities’ swift response to the triple shock , supported by its partners and including tax relief on some basic commodities and expanding the social safety

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Britain, EU have 7-10 days to find Brexit breakthrough, says Ireland

British Union Jack and EU flag during a protest outside the House of parliament in London January 30, 2020 REUTERS/Toby Melville By Padraic Halpin, Elizabeth Piper, Gabriela Baczynska Britain and the European Union have a week to 10 days to find a way to unlock trade talks, Irish Foreign Minister Simon Coveney said on Monday,

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