Business

  NAIROBI, KENYA | Xinhua | Interest rates on Kenya’s government securities have closed 2023 at a historic high, putting the country in a tough position as it seeks to ramp up borrowing to fund a budget deficit. The Central Bank of Kenya (CBK) said in its data released Friday …

FRANKFURT, GERMANY | Xinhua | As German companies are getting increasingly dissatisfied with their status quo, their scepticism over business prospects for the first half of 2024 has grown. The Ifo Business Climate Index, which measures entrepreneurs’ sentiments about the current business situation and their expectations for the next six …

CAIRO, EGYPT | Xinhua | The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday that 29 agreements with a total investment of about 1.2 billion U.S. dollars for oil and natural gas exploration in the country have been signed in 2023. The ministry said in a statement that …

Kisoro, Uganda | THE INDEPENDENT | The government has completed the acquisition of the land allocated for the construction of Kisoro Industrial and Business Park in Kisoro District. This was after the Uganda Investment Authority obtained the land title, and marked the borders, paving the way for the construction works to …

NAIROBI | Xinhua | Kenya Airways (KQ), the country’s national carrier, said Thursday it has expanded its codeshare partnership with South African Airways (SAA), the flag carrier airline of South Africa, to include direct flights from South Africa to South America. Kenya Airways said customers will now experience a seamless …

Kampala, Uganda | THE INDEPENDENT | The Director General of the Uganda Investment Authority (UIA), Robert Mukiza, has affirmed that the progress of establishing the Industrial Park in Kisoro district remains on track. The Kisoro district authorities allocated 620 acres of Kibaya land in Bunagana and Rukundo Town councils to …

ISLAMABAD, Pakistan | Xinhua | The economic recovery in Pakistan continues at a steady pace, bolstering business confidence and market sentiment, Pakistan’s Ministry of Finance said on Wednesday. “Despite significant challenges, the overall economic outlook is optimistic, marked by receding inflationary pressures, positive prospects in agriculture, signs of potential recovery …

BRASILIA,  BRAZIL | Xinhua | Brazil’s financial market maintained its 2023 economic growth forecast at 2.92 percent, but slightly upgraded the expected expansion in gross domestic product (GDP) in 2024 from 1.51 percent to 1.52 percent, the Central Bank of Brazil said Tuesday. In keeping with its latest Focus survey …

KIGALI, RWANDA | Xinhua | There is a new sight on the streets of Kigali, the capital city of Rwanda: new electric vehicles whizzing among the old gasoline-powered vehicles. The Kigali city authorities in partnership with BasiGo, a Kenyan based company launched the pilot electric buses in public transport earlier …

NAIROBI, KENYA | Xinhua | Kenya’s economy grew 5 percent in 2023, up from 4.8 percent in 2022 despite continued challenges, the World Bank said in a report released recentlyy. According to the World Bank’s 28th edition of Kenya Economic Update (KEU), the improved growth was buoyed by a strong …