Saudi Arabia’s petrochemical producers are staring at a few more quarters of squeezed margins as higher feedstock prices, lower product prices, and a supply glut have combined to brew a perfect storm for the industry. With the global economy expected […]
Seychelles has been listed as the richest country in Africa in the Global Finance Magazine edition released on December 21. According to the magazine, Seychelles is ranked 56th in the world and tops the list for African countries with a […]
The United States has officially struck off Uganda and three other African countries as beneficiaries of the African Growth and Opportunity Act (Agoa), effectively ending Kampala’s ability to export certain commodities to the US duty-free. In a decree dated December […]
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Argentina’s new President, Javier Milei, has withdrawn the country from its planned entry into the expanding Brics club of nations.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 […]
#SaudiArabia records a trade surplus of 30,401 billion Riyals ($8.1 billion) in October 2023, with the total international trade volume reaching 178,210 billion Riyals ($47.5 billion). 🔸️ Exports and Imports ▪️ Exports: 104,306 billion Riyals ($27.8 billion) ▪️ Imports: 73,904 […]
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 […]
Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a $33 million “coupon” payment on its only international government bond. Africa’s second most populous country announced earlier this month that it intended to […]
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 […]
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