Tag Archives: economy

Dubai, United Arab Emirates | AFP | IMF chief Christine Lagarde on Saturday urged Arab countries to slash public wages and subsidies in order to rein in spending, achieve sustainable growth and create jobs. Speaking at the one-day Arab Fiscal Forum in Dubai, Lagarde welcomed “promising” reforms adopted by some …

N’Djamena, Chad | AFP | Chad’s finance minister says the country will not impose further cuts on civil servants’ pay this year, after strikes and protests erupted over one of the most unpopular measures in an austerity programme. “There won’t be further cuts this year,” the finance and budget minister, Abdoulaye …

Kinshasa, DR Congo | AFP | The world’s biggest producer of cobalt, a key ingredient in modern batteries, plans a five-fold increase in tax on the commodity as part of an overhaul of its mining laws, industrial sources said Friday. The Democratic Republic of Congo would impose a tax of 10 …

London, United Kingdom | AFP | The social media frenzy surrounding Alexis Sanchez’s high-profile move to Manchester United dwarfed interest shown when Neymar moved from Barcelona to Paris Saint-Germain, executive vice-chairman Ed Woodward said Thursday. Sanchez joined United from Premier League rivals Arsenal last month in a deal that saw …

NRM’s 32 year economy: If majority are praising it, why are experts worried about the future? Kampala, Uganda | JULIUS BUSINGE | One highlight of President Yoweri Museveni’s 32-year stay in power has been the massive efforts at resuscitating the economy. When Museveni and his group came into power in 1986, …

N’Djamena, Chad | AFP | The government of Chad on Wednesday suspended 10 opposition parties for “disturbing public order” and “inciting violence” after they backed trade union calls for a mass protest over austerity measures. The parties’ activities “have been suspended for a duration of two months,” Security Minister Ahmat …

The latest African Development Bank (AfDB) Economic Outlook for 2018 predicts 4.1% average growth COMMENT | KAUSHIK BASU | The African Development Bank (AfDB) has just published its African Economic Outlook for 2018. This year’s revamped publication – shorter than usual, analytically well-structured, and written in lucid prose, without hyperbole – …

Khartoum, Sudan | AFP |  Sudan’s central bank Sunday announced it will devalue the local currency to 30 Sudanese pounds against the US dollar, the second such move in weeks amid soaring inflation. The new official exchange rate will go into effect on Monday, the central bank said on its …

Washington, United States | AFP | US job creation accelerated in January, as the labor market continued to absorb workers at a robust pace, unemployment clung to a record low and wages moved higher, the government said in a key report Friday. And with a near 10-year record in wage …

Khartoum, Sudan | AFP | Sudanese security agents have arrested the deputy head of the country’s main opposition Umma Party after it held anti-government rallies to protest rising food prices, the party said on Friday. Sporadic demonstrations have hit Khartoum and some other parts of Sudan since early January after …