In a significant development that offers a temporary respite from escalating trade tensions, top officials from the United States and China announced on Monday that they have reached a mutual agreement to roll back the majority of their recently imposed tariffs. This accord also includes a commitment to a 90-day pause on any further tariff […]
Koidu Limited, the preeminent diamond mining company operating in Sierra Leone and a significant contributor to the nation’s economy, has made the drastic decision to halt all mining operations. This shutdown has resulted in the layoff of virtually its entire local workforce, comprising more than 1,000 employees, marking a severe blow to the local economy […]
In a bid to shore up Kenya’s fledgling Social Health Authority (SHA) and ensure timely remittance of contributions, Health Cabinet Secretary Aden Duale announced plans to have all civil servants’ SHA dues deducted directly by the National Treasury. The move comes after widespread reports of frontline health workers being denied care despite payroll deductions, and […]
India has tabled a sweeping proposal to reduce its average tariff differential with the United States from nearly 13% to under 4%, in exchange for an exemption from existing and potential new U.S. tariffs. The move comes as New Delhi races to clinch a landmark trade agreement before President Donald Trump’s 90-day tariff suspension lapses, […]
In a landmark move to shore up public finances, Nigeria’s Senate on May 9, 2025 approved four crucial tax reform bills designed to raise government revenue, streamline tax administration and strengthen fiscal discipline. Spearheaded by President Bola Tinubu’s administration, these measures mark the culmination of a sweeping overhaul that began with subsidy removals and multiple […]
In a landmark gathering on May 9, 2025, President William Ruto of Kenya hosted H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates (UAE), in Nairobi. The two leaders reaffirmed a relationship that stretches back decades—hatched in historic trade caravans and bolstered by modern investments—and elevated it […]
On May 8, 2025, the Bank of England’s Monetary Policy Committee (MPC) voted 5–4 to cut its benchmark interest rate by 25 basis points, lowering it from 4.50 percent to 4.25 percent. This decision—its fourth reduction since August 2023 and second in 2025—reflects the Bank’s response to escalating global trade tensions, particularly the tariffs announced by U.S. President Donald Trump on […]
In early May 2025, global markets were rattled when JPMorgan Chase issued a $200 million margin call against Angola’s $1 billion loan facility, arranged as a Total Return Swap (TRS) last December. That request for additional collateral—triggered by a sudden drop in the price of Angolan government dollar bonds used as security—thrust the oil‐rich nation’s precarious public […]
Kenya’s economy experienced an encouraging surge in 2024 as diaspora remittances rose by an impressive 14%, reaching Sh674.1 billion. This rise has confirmed the growing importance of remittances as one of the country’s most reliable sources of foreign exchange, outpacing other key sectors such as tourism, tea exports, and horticulture. This trend is not only […]
In a significant move toward thawing frayed economic ties, China and the United States have confirmed plans to hold high-level trade and economic talks in Switzerland from May 9 to 12, 2025. At the invitation of the Swiss government, Chinese Vice Premier He Lifeng, a member of the Political Bureau of the Communist Party of […]
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...
