The United Kingdom is bracing for yet another increase in energy bills as the nation grapples with the dual pressures of extreme weather and global geopolitical instability. The British energy regulator, Ofgem, announced a 10% rise in the energy price cap for household energy bills, effective from October 1, 2024. This increase brings the annual […]
Uganda is intensifying its efforts to secure adequate oil supplies by diversifying its import routes, a strategy aimed at addressing persistent challenges in meeting its growing demand for petroleum products. The Uganda National Oil Corporation (UNOC) has recently expanded its importation efforts to include the port of Dar es Salaam in Tanzania, supplementing the traditional […]
Kenya is poised to make a significant leap in its energy sector with the announcement of its plans to begin the construction of the country’s inaugural nuclear power plant in 2027. This initiative is part of a broader strategy to enhance the nation’s energy capacity, reduce carbon emissions, and stimulate economic growth through job creation. […]
Japan’s core inflation rate accelerated for the third consecutive month in July, according to data released by the government on Friday. The nationwide core consumer price index (CPI), which excludes volatile fresh food prices, rose by 2.7% compared to the same month last year. This is a slight uptick from the 2.6% rise recorded in […]
In response to the ongoing crude oil supply challenges affecting Nigeria’s local refining capacity, the Independent Petroleum Producers Group (IPPG) has called on the Nigerian National Petroleum Company Limited (NNPCL) to utilize its allocated crude oil volumes to support domestic refineries. This recommendation comes amid increasing concerns over the country’s ability to meet its refined […]
Introduction The Central Bank of Kenya (CBK) recently disclosed that the printing of new currency notes would cost the nation Sh14.2 billion. This revelation was made by the CBK Governor, Kamau Thugge, during a session with the Finance Committee of the National Assembly, chaired by Molo MP Kuria Kimani. Governor Thugge emphasized that the tender […]
Introduction The rising cost of public services and benefits in the UK has led to a higher-than-expected increase in government borrowing, according to official figures released by the Office for National Statistics (ONS). In July 2024, borrowing reached £3.1 billion, marking the highest level for the month since 2021. This unexpected surge has sparked widespread […]
Introduction In a move reflecting a favorable outlook on inflation and strong economic growth, Rwanda’s central bank has reduced its key interest rate for the second consecutive time. On August 21, 2024, the National Bank of Rwanda (NBR) announced a 50 basis point cut to its Central Bank Rate, bringing it down to 6.5%. This […]
Kenya has embarked on a nationwide sensitization campaign to inform and engage the business community about the vast opportunities presented by the European Union (EU) Economic Partnership Agreement (EPA). The initiative, driven by the Ministry of Investments, Trade, and Industry, aims to unlock the full potential of the EPA by ensuring that businesses and investors […]
As anticipated, China opted to leave its key lending benchmarks unchanged during its monthly rate-setting meeting on Tuesday, maintaining the one-year loan prime rate (LPR) at 3.35% and the five-year LPR at 3.85%. This decision was widely expected by the market, reflecting the delicate balance China’s policymakers must strike between stimulating economic growth and managing […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
