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 […]
China and Russia have almost completely phased out their use of the US dollar in bilateral trade, Russian Prime Minister Mikhail Mishustin has said. In a meeting with Chinese and Russian officials this week, Mishustin said more than 90% of […]
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 […]
Oil was stable after three days of gains as traders weigh surging US production against the ongoing threats of Houthi attacks on ships in one of the world’s most important waterways. Global benchmark Brent futures pared a decline of as […]
India’s exports face a shortfall of about $4 billion to $5 billion this year after it clamped curbs on trade in wheat, rice and sugar, a person familiar with the matter said on Thursday, adding that Red Sea attacks may […]
The world economy is losing steam. With forecasts for both output and trade well below the long-term average, reviving growth has become a top priority for policymakers everywhere. One underappreciated tool at their disposal is trade finance. It is no secret that countries that […]
Dubai has emerged as a true ‘live, work, play’ city that is now on par with major global hub cities. This is what the global real estate consulting firm Knight Frank concluded when it released its most recent research, Rise […]
Annual inflation may approach 8% in Russia this year, President Vladimir Putin said on Thursday, a day before the central bank is widely expected to hike interest rates to 16% to rein in price rises. Most analysts polled by Reuters […]
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