Sri Lanka has taken a significant step towards economic recovery as the International Monetary Fund (IMF) announced the approval of a $330 million disbursal. This comes as part of a $3 billion loan agreement aimed at addressing the nation’s ongoing economic crisis. The IMF’s decision follows the successful completion of the first review of the […]
Kenya’s International Freight and Warehousing Association (Kifwa), representing cargo handlers, is implementing a strategic shift to counteract price undercutting and enhance earnings. The core of this strategy is the introduction of minimum service fees, set to be enforced from December 1, 2023. While this move aims to mitigate inflation’s impact, it will inevitably lead to […]
As geopolitical risks ripple across the world, Brazil’s economic outlook and, consequently, its credit score are increasingly influenced by the successful implementation of a new fiscal framework, according to Moody’s Investors Service. Despite global concerns, the domestic progress of the Brazilian economy remains the pivotal factor shaping the nation’s creditworthiness, stated senior analyst Samar Maziad […]
The Bank of Israel signaled a measured stance on reducing interest rates, expressing concerns about the potential for inflation and the impact on the shekel. This comes as Israel grapples with ongoing regional tensions, including the recent conflict with Hamas in Gaza. Interest rates have seen a significant rise, increasing from a mere 0.1% to […]
Kenya’s Petroleum Development Levy (PDL) faced a substantial decline in collections, falling by almost Sh1 billion for the fiscal year that concluded in June. The slump can be attributed to reduced consumption of super petrol and diesel, influenced by steadily rising fuel prices. Official data from the Ministry of Energy and Petroleum reports that the […]
Johannesburg, South Africa – Inflation in South Africa exhibited a notable uptick in September, primarily propelled by surging food and fuel prices, with transport costs also playing a contributing role. According to data released by Statistics South Africa, headline consumer inflation rose from 4.8% in August to 5.4% year-on-year in September. This has created new […]
Kenya has taken a significant step towards bolstering fiscal transparency and prudent debt management by replacing its former numerical debt ceiling with a new limit set at 55% of the country’s Gross Domestic Product (GDP). This strategic change aims to address mounting concerns surrounding Kenya’s escalating debt burden. The enactment of this change came as […]
The Suez Canal Authority has announced plans to adjust transit fees for different vessel categories, with an upcoming 15% increase for petroleum and natural gas carriers and a 5% rise for dry bulk vessels. These changes are scheduled to take effect in mid-January 2024. In a bid to maintain the Suez Canal’s economic viability, the […]
Leaders from across the globe have gathered in Beijing for the Third Belt and Road (BRI) Summit, marking a significant juncture in China’s ambitious infrastructure initiative. Launched a decade ago with grand aspirations of bridging the East and West through massive projects, the BRI has faced headwinds and shifting priorities. Initially hailed for its potential […]
In a significant policy shift, Kenyan President William Ruto has revealed plans to construct 250,000 low-cost homes annually under his housing program. These homes will be divided into social, affordable, and market categories. Under the guidance of President Ruto and the State Department for Housing and Urban Development, these low-cost housing developments will offer a […]
In a significant strategic development for both Kenya and the broader African continent, the European Bank for Reconstruction and Development...
In a significant diplomatic and trade breakthrough, China on Friday officially signaled its approval for the export of critical rare...
In a comprehensive assessment of Nigeria's economic trajectory, the African Development Bank (AfDB) has released its 2025 Nigeria Country Focus...
East Africa's leading investment powerhouse, Centum Investment Company PLC, has sent ripples across the regional financial markets with a recent...
