Tag Archives: economy

Istanbul, Turkey | AFP |  It had seemed impossible to find insults more scathing. Russian President Vladimir Putin accused Turkish counterpart Recep Tayyip Erdogan of trading oil with Islamic State jihadists and making modern Turkey’s founder Ataturk “roll in his grave”. In a loud slanging match between two masters of …

Abuja, Nigeria | AFP | Nigeria’s President Muhammadu Buhari proposed Wednesday a multi-billion dollar jump in spending designed to lift the nation out of the “most challenging economic situation” in its history. He pitched his NGN 7.3 trillion budget ($23 billion) proposal for 2017 — a 20 percent boost over …

South Africa’s Steinhoff and Shoprite to form retail giant Johannesburg, South Africa | AFP |  South African retail giants Steinhoff International and supermarket group Shoprite Holding Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in …

Banjul, Gambia | AFP | The cocktails keep flowing by the pool on the tourist strip, but in The Gambia’s markets many African migrant traders are packing up their businesses and heading home. The international community is piling pressure on President Yahya Jammeh to leave power after 22 years and …

Members of Parliament (MPs) have shown eagerness to adopt the Songhai Model in Uganda’s programmes aimed at fighting unemployment, enhancing labour productivity and food security. “It is very important Members of Parliament experience the Songhai Model. I am saying that because I am a fan of the Songhai model,” Uganda Parliament …

Beijing, China | AFP |  Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace. A 10-gigabyte file posted on the internet exposed the personal details of more …

Experts tell Museveni, Mutebile, Muhakanizi President Yoweri Museveni’s unchecked spending and the Ministry of Finance and Bank of Uganda efforts to clean have created a lope-sided economy that is hurting everyone. That is the view of several economists interviewed by The Independent. Dr. Lawrence Bategeka, formerly a researcher at the …

Washington, United States | AFP |  The US administration-in-waiting nominated by President-elect Donald Trump is a circle of multimillionaire businessmen and women the public may view as a cabinet whose wealth is unprecedented in US history. Himself a billionaire real estate developer, Trump could entrench this characteristic should he choose …

New York, United States | AFP | Steven Mnuchin is hardly a household name, but US President-elect Donald Trump’s new pick for Treasury secretary has close ties to Wall Street that could prove a double-edged sword in the current populist era. A former Democratic Party donor, the 53-year-old surprised his …

Beijing, China | AFP |  Beijing is tightening screening on Chinese companies’ overseas investments, according to the government and reports, after a record-setting shopping spree raised concerns of capital flight and reckless spending. Authorities will “combine facilitating foreign investment with guarding against investment risks” by scrutinising proposed deals, said a …