Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday announced it had established 2PointZero, a holding company which will have more than Dhs100bn ($27bn) in assets. 2PointZero will hold ownership in entities whose transfer to IHC has been initiated, after […]
Kenya continues to experience an increase in its diaspora remittance, leaving room for some conversations to be had. One such conversation is how the Kenyan government can utilize some of the money realized from these remittances to invest locally. This […]
Uganda estimates it will pay power distributor Umeme Limited about $225 million to allow the utility to recoup its investments in the national grid after its concession ends in March 2025, a top Energy ministry official said. Umeme, which is […]
Saudi Aramco has hiked retail diesel prices for 2024 by 53% to 1.15 riyals ($0.30) a litre from SAR 0.75, as part of its annual price adjustment. While the world’s oil producing company has raised prices for domestic consumers three […]
Argentina’s new President, Javier Milei, has withdrawn the country from its planned entry into the expanding Brics club of nations. In a letter to the leaders of Brazil, Russia, India, China and South Africa, Mr Milei said decisions taken by […]
The BRICS group is on track to double its membership as Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt join the bloc on January 1, 2024, according to South Africa’s envoy to the bloc. In August, the BRICS […]
Egypt’s black market exchange rate for the US dollar reached a record high of 53 Egyptian pounds amid calls for the cash-strapped North African country to devalue its currency. The latest rise in the black market price of the US […]
A Rwandan investor has won a spirited legal battle in Kenya over the ownership of a Ksh400 million ($2.6 million) online company, which he had been defrauded by a Kenyan trader. In the historical judgment, which lawyers say will restore […]
Oil jumped over 2% on Tuesday to the highest in almost a month, supported by Middle East strife and investor optimism that the U.S. Federal Reserve would soon start cutting interest rates, boosting global economic growth and fuel demand. The […]
Almost two-thirds of British exporters have said selling to the EU has become harder in the past year, according to the British Chambers of Commerce, which is calling on the government to do more to smooth trade frictions post-Brexit. Three […]
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