Tag Archives: economy

Harare, Zimbabwe | AFP | Zimbabweans know the risks of worthless money all too well after hyperinflation between 2007 and 2009 gave them the 100-trillion-dollar banknote that barely bought a loaf of bread. Now they fear that the government is about to create another devastating crisis by printing its own …

Cairo, Egypt | AFP |  IMF chief Christine Lagarde said Thursday that Egypt is going through a currency “crisis,” suggesting a quick devaluation to tackle a widening gap between the official and black market rates. Egypt has been struggling to shore up its foreign currency reserves in the political and …

Lagos, Nigeria | AFP | Nigeria’s currency scarcity remains a nightmare that won’t go away, with even Africa’s richest man Aliko Dangote feeling the pain. The West African country’s economy has been hammered by the global crash in oil prices — worth 70 per cent of its revenue and the …

National carrier revival question: World Bank calls for more focus on high cost of doing business instead At the beginning of his fifth term in office, President Yoweri Museveni set tongues wagging when he included the revival of the national career among his 20 priority programmes in this term of office. …

Washington, United States | AFP | Donald Trump vowed Tuesday to overturn President Barack Obama’s signature health insurance program after the government announced Americans will see costs jump an average of 25 percent next year. “Obamacare has to be repealed and replaced and it has to be replaced with something …

How Ugandans love of the good life is driving café culture Endiro coffee is easy to miss. Although the tiny café is right at the entrance to the Kisementi shopping and entertainment area of Kampala City’s Kololo suburb, it is hidden in thick shrubbery. Once inside, rustic wood and metal …

Mumbai, India | AFP | Industrialist Ratan Tata sensationally returned to the helm of India’s biggest conglomerate on Monday as Tata Sons dumped Cyrus Mistry as chairman in a shock announcement that stunned analysts. The 78-year-old takes interim charge of the sprawling $100 billion tea-to-steel group almost four years after …

 Oil refinery trouble: Museveni pushed into tight corner A shadowy international company registered in the British Virgin Islands (BVI), a major international tax haven is high up on the list of companies government is courting to invest in the $ 4 billion oil refinery, investigations by The Independent have found. …

Washington, United States | AFP |  Major internet services including Twitter, Spotify and Amazon suffered service interruptions and outages on Friday as a US internet provider came under sustained cyber attack. The internet service company Dyn, which routes and manages internet traffic, said that it had suffered a distributed denial …

Khartoum, Sudan | AFP |  Africa’s economic growth is expected to dip this year before rebounding in 2017 to remain the world’s second fastest growing region after east Asia, the African Development Bank said Thursday. Africa’s growth in Gross Domestic Product is expected to fall to 1.9 percent this year …