Business

In the Independent this week: BOU’s war with Sudhir and how the central bank’s handling of the problems of Crane Bank showed lack of imagination and strategy. COVER STORY Secrets of Sudhir saga: How BoU is overseeing the biggest asset grab ever. THE LAST WORD BOU’s war with Sudhir: How …

Benghazi, Libya | AFP | The head of Libya’s National Oil Company announced on Wednesday that oil production is expected to reach 1.25 million barrels per day by the end of 21017. NOC president Mustafa Sanalla said, however, that “despite a surge of more than one million bpd” oil production would …

Gahara, Rwanda | AFP | Inside a metal shed in southeastern Rwanda, Nicholas Hitimana brandished a plastic container holding a green liquid: geranium essential oil, freshly distilled and ready for export at more than $200 (175 euros) a kilo. The pioneer of essential oils in Rwanda, Hitimana said he understood …

Kampala, Uganda | ISAAC KHISA | African countries are currently having trouble releasing their biotech crops popularly known as Genetically Modified Organisms (GMO) to farmers, but scientists seem to be embracing a new strategy to ensure that there exist relevant regulatory systems. On July 18, the biosafety agencies and partners across …

Quito, Ecuador | AFP | Poachers in Ecuador have long known the hefty prices their country’s rare frogs can fetch. But now environmentally conscious firms are starting to sell the amphibians too — to try to save them from the black market and threatened extinction. In San Rafael, just outside the …

San Francisco, United States | AFP | After spending two years on the sidelines, Google Glass internet-linked eyewear is back in the game, this time aimed at helping workers do their jobs. General Electric, Volkswagen, and Boeing are among more than 50 businesses taking part in testing a Glass Enterprise Edition …

Istanbul, Turkey | AFP | Turkish President Recep Tayyip Erdogan will this month visit Qatar and Saudi Arabia, which are locked in a deep diplomatic crisis, his office announced Tuesday. Erdogan will also visit Kuwait, the main mediator in the Qatar crisis, during his July 23-24 tour. Turkish Prime Minister Binali …

VIDEO: Isimba dam commissioning could delay due to engineering flaws Kampala, Uganda | NTV UGANDA | UGANDA Government has set December 2018 as the first working date to officially open the 183 Mega Watt Isimba Hydro Power Dam. The announcement made during on a working visit of the dam by …

Washington, United States | AFP | US regulators on Monday fined French banking giant BNP Paribas $246 million for poor oversight of its foreign exchange traders who manipulated trading prices. The move came six months after the Federal Reserve permanently barred former BNP trader Jason Katz from the banking industry, …

Rome, Italy | AFP | The famous white sari with three blue borders worn by saint Mother Teresa has been copyrighted by nuns, and one of the Vatican’s top cardinals is not pleased. “Holy Mother Teresa of Calcutta is a universal symbol, beloved by believers (and) unbelievers,” said Cardinal Jose Saraiva …