Russia’s finance ministry announced Wednesday its proposal to raise the value-added tax rate to 22% from 20% beginning in 2026, marking a desperate attempt to finance military expenditures as the war in Ukraine enters its fourth year. The tax increase represents the most significant fiscal adjustment since the conflict began, exposing the mounting financial pressure […]
The Central Bank of Nigeria (CBN) has made a decisive turn in its monetary stance by trimming its Monetary Policy Rate (MPR) by 50 basis points, lowering it from 27.5% to 27%. The move, announced after the 302nd Monetary Policy Committee (MPC) meeting on September 22–23, 2025, marks the first policy rate cut in five […]
In a significant move to support Kenya’s most vulnerable populations, the government has disbursed KSh 422,458,200 in cash transfers to 132,779 households across eight drought-prone counties under the Hunger Safety Net Programme (HSNP). This latest distribution, announced on September 22, 2025, represents a crucial lifeline for families struggling with the devastating effects of climate-related shocks […]
France’s economy is experiencing its most severe contraction in five months, with both manufacturing and services sectors declining sharply in September 2025, according to the latest S&P Global Purchasing Managers’ Index (PMI) data released on Tuesday. The deterioration marks a sobering end to what had appeared to be tentative stabilization over the summer months, raising […]
Nigeria’s economy has recorded its fastest growth rate in nearly four years, with Gross Domestic Product (GDP) expanding by 4.23% year-on-year in the second quarter of 2025, according to data released by the National Bureau of Statistics (NBS) on Monday. This represents a significant improvement from the 3.48% growth recorded in the same period of […]
Kenya is intensifying efforts to finalize a groundbreaking bilateral trade agreement with the United States by December 2025, as the African Growth and Opportunity Act (AGOA) approaches its critical September 30 expiration date. This landmark deal would mark the first comprehensive trade agreement between the US and a sub-Saharan African nation, representing a pivotal moment […]
President Donald Trump has enacted one of the most dramatic overhauls of American immigration policy in decades, signing two executive orders on Friday that fundamentally transform how the United States approaches both skilled worker visas and high-net-worth immigration. The sweeping changes impose a $100,000 application fee on H-1B visas while simultaneously launching the “Trump Gold […]
The diplomatic relationship between the Kingdom of Saudi Arabia and Tanzania has evolved into a comprehensive strategic partnership that transcends traditional ceremonial exchanges. As Saudi Arabia marked its 45th National Day with renewed commitment to deepening cooperation with Tanzania, the partnership has demonstrated remarkable progress across multiple sectors, positioning both nations for sustained economic growth […]
Kenya faces a devastating economic crisis as sophisticated criminal networks systematically drain between Sh243 billion and Sh253 billion annually from the national economy through illicit trade activities, according to a comprehensive joint report by the National Taxpayers Association and Oxfam. This staggering figure, which has more than doubled over the past four years, represents nearly […]
Gulf Cooperation Council central banks moved swiftly to cut their key interest rates on Wednesday, following the Federal Reserve’s decision to lower U.S. interest rates by 25 basis points for the first time this year. The coordinated monetary policy response reflects the region’s currency pegging mechanisms and underscores the strategic importance of maintaining competitive borrowing […]
Kenya’s monetary policy cycle has entered a defining phase. The Central Bank of Kenya (CBK) has lowered its benchmark rate...
In a development that signals a deeper convergence between traditional finance and digital assets, Binance, the world’s largest cryptocurrency exchange...
When a nationalised bank in Maharashtra sold a life insurance policy to a 90-year-old man with an annual premium of...
Artificial intelligence has officially crossed a new threshold. For the first time, an AI system specifically AI voice agents can...
