Egypt’s government is forecasting a significant drop in petroleum exports, predicting they will fall to $7.95 billion for the fiscal year 2024-2025, down from $10.22 billion in the previous year. Economic Challenges Ahead This expected decline in petroleum exports comes amid broader economic challenges for Egypt. The central bank recently reported a shift in the […]
President William Ruto of Kenya is facing tough times following the rejection of a crucial finance bill aimed at tackling the country’s massive $80 billion debt. Deadly protests, driven by public frustration over proposed tax changes, led to the bill’s downfall, prompting President Ruto to issue stark warnings about its implications for the future. With […]
China’s post-COVID economic recovery hit another roadblock in June, as consumer inflation figures came in lower than expected. The consumer price index (CPI) for June increased by just 0.2% year-on-year, down from May’s 0.3% rise and below the 0.4% predicted by a Reuters poll. This marks the slowest inflation growth in three months, highlighting ongoing […]
Qatar Chamber warmly welcomed a delegation from Burundi led by Victor Ndabaniwe, Chief of the Teacher’s Housing Foundation, and His Excellency Isidore Ntirampeba, Ambassador of Burundi to Qatar. The meeting, chaired by Qatar Chamber’s first vice-chairman, Mohamed bin Towar al-Kuwari, aimed to strengthen economic cooperation between the two nations. Exploring New Investment Avenues The discussions […]
Kenya has raised the bond fee for fuel imports destined for Uganda, doubling it from $15 million to $45 million at the Vitol Tank Terminal International (VTTI) in Mombasa. This move, aimed at securing tax revenue in case imported fuel meant for transit is diverted to local markets, poses a significant challenge to Uganda’s efforts […]
The Federal Reserve has expressed cautious optimism about achieving its 2% inflation target, according to the latest policy minutes. While inflation remains elevated, recent months have shown modest progress towards this goal. Economic Adjustments and Strategy The Fed emphasized a flexible, data-driven approach to monetary policy. Instead of following a fixed path, the Committee will […]
Galiche Buwa, a 75-year-old widow, has survived civil wars, famine, and natural disasters. Her grocery business has been her lifeline through these turbulent times. However, the recent rupture of a key pipeline in Sudan has put even this staple of stability at risk, shaking the foundations of South Sudan’s economy. The pipeline, crucial for transporting […]
In a significant effort to enhance socio-economic development, the Kenyan government has successfully facilitated job placements for hundreds of teachers in the United States. This initiative is part of a broader strategy to connect Kenyan professionals with international opportunities. The teachers were officially sent off during a flag-off ceremony attended by several high-profile government officials. […]
Goldman Sachs announced an upward adjustment to its gross domestic product (GDP) forecasts for the UK, increasing its estimates by 0.1 percentage points for both 2025 and 2026. The investment bank now expects the UK economy to grow by 1.6% in 2025 and 1.5% in 2026. This revision reflects confidence in Labour’s fiscal policies, anticipated […]
In a significant move to bolster its development, Rwanda has secured a $1 billion funding agreement from South Korea. This new deal, covering the period from 2024 to 2028, replaces and doubles the previous four-year $500 million agreement that was set to end in 2026. Investment in Key Sectors The Rwandan Finance Ministry announced on […]
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...
