Japan’s economy continues to face challenges as wholesale inflation surged at the highest annual rate in over a year in October, driven largely by the depreciation of the yen. As the yen weakened further, import costs rose, putting the Bank of Japan (BOJ) under increased pressure to consider additional interest rate hikes sooner than expected. […]
Tanzania plans to increase its national budget by 11.6% for the 2025/2026 fiscal year, elevating it from TSh 49.35 trillion ($18.98 billion) to TSh 55.06 trillion ($20.4 billion). The proposed increase reflects the country’s ambition to fund domestic priorities and reduce its dependence on external financing sources. Tanzania’s Finance Minister Mwigulu Nchemba outlined the details […]
Kenya’s Jomo Kenyatta International Airport (JKIA) is facing a major logistical crisis that threatens the country’s lucrative horticulture industry, particularly its flower exports to Europe. Flight cancellations and delays are causing significant setbacks at the airport, affecting operations just as Kenya enters the high export season for fresh flowers, fruits, and vegetables. This crisis has […]
Sterling took a significant dip, reaching a three-month low against the U.S. dollar as recent data indicated a deceleration in wage growth alongside a slight increase in unemployment in the UK. The currency was down 0.5% at one point, trading as low as $1.2806, its weakest point since mid-August, and settled around $1.2814. In contrast, […]
In a notable economic shift, Rwanda has redirected its trade focus towards the Common Market for Eastern and Southern Africa (COMESA), achieving significant trade growth while facing barriers in the East African Community (EAC). Rwanda’s trade with COMESA partners rose by an impressive 8.2 percent in the year leading to December 2023, surpassing growth rates […]
Kenya has reaffirmed its commitment to combating climate change as a national priority, with President William Ruto placing sustainability at the center of the country’s development strategy. This commitment was highlighted as Cabinet Secretary for Environment, Climate Change, and Forestry, Aden Duale, led Kenya’s delegation to the 29th Conference of the Parties (COP 29) in […]
In a major fiscal maneuver to stabilize its economy, China has launched an unprecedented package valued at 10 trillion yuan ($1.4 trillion) aimed at easing debt repayment pressures for local governments. Facing mounting financial constraints, an ailing real estate market, and deflationary pressures, the world’s second-largest economy seeks to rejuvenate domestic demand and stimulate growth. […]
In a major stride for Somalia’s economic future, the United States announced the cancellation of over $1.1 billion in debt owed by the East African nation. This move was formalized at a ceremony held at the US Embassy grounds in Mogadishu, where American officials declared that Somalia would no longer bear the financial burden of […]
In a bid to revamp Kenya’s revenue collection framework, the National Treasury has proposed a new tax regime aimed at expanding the tax base while sparing essential commodities from increased VAT charges. Treasury Secretary John Mbadi unveiled the Tax Laws (Amendment) Bill 2024, which focuses on high-value sectors, particularly the airline industry, digital services, and […]
The Federal Reserve announced a quarter-point reduction in interest rates on Thursday, lowering the benchmark rate to a target range of 4.50% to 4.75%. This decision reflects policymakers’ view of a U.S. labor market that is beginning to show signs of cooling, alongside inflation edging closer to the Fed’s long-standing 2% target. Following a two-day […]
Kenya, a vibrant East African economic hub, finds itself at a critical juncture, grappling with persistent challenges of corruption, illicit...
The United States labor market delivered a robust performance in June, with job growth surpassing economists' forecasts and the unemployment...
Africa is on the cusp of a profound digital transformation, with its data centre sector emerging as a critical backbone...
The vibrant city of Nairobi is currently hosting a pivotal event poised to redefine Africa's investment landscape: the inaugural NextFrontierAfrica...
