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Tag Archives: finance

Saudi raises $9 bn in first global Islamic bond issue

Riyadh, Saudi Arabia | AFP |  Saudi Arabia raised $9 billion in its first global Islamic bond issue, the government announced on Thursday, a move analysts say could ease pressure on foreign reserves. The sale of Islamic bonds, known as sukuks, comes after the kingdom in October turned to the …

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S.Africa new finance minister vows to enforce ANC policies

Johannesburg, South Africa | AFP | South Africa’s new Finance Minister Malusi Gigaba Saturday pledged to implement the policies of the ruling ANC as the party remains deeply divided over the sudden firing of his predecessor. Gigaba on Thursday replaced Pravin Gordhan, ousted in a shock midnight cabinet reshuffle by …

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Brexit job fears stalk Britain’s financial centres

Manchester, United Kingdom | AFP | Worries are whirring in Britain’s smaller financial centres — which together employ far more people than the glamorous City of London — that the looming EU departure will lead to heavy job losses. In Manchester’s buzzing finance district of Spinningfields, a worker at an …

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Plan to nurture African economies unites fractious G2

Baden-Baden, Germany | AFP | Ministers from the world’s top economies heralded plans to boost development in Africa on Saturday, at an otherwise fractious G20 gathering in Germany. Berlin, which holds the presidency of the powerful nations’ club this year, has made a hoped-for “Compact with Africa” a top priority for …

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Algorithms: the managers of our digital lives

Paris, France | AFP |  Algorithms are a crucial cog in the mechanics of our digital world, but also a nosy minder of our personal lives and a subtle, even insidious influence on our behaviour. They have also come to symbolise the risks of a computerised world conditioned by commercial …

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Govt taking steps to reduce domestic arrears

Government is taking steps in ministries and departments intended to reduce and solve the problem of increasing domestic arrears, the Minister of State for Finance David Bahati has said. One of the steps, the minister said was instituting prepaid systems for utilities. “The biggest part of domestic arrears is on …

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ANALYSIS: IMF boss ensures 2017 budget will be ‘hard’

Lagarde (right) praised Museveni’s (left) scaled-up infrastructure investments.When President Yoweri Museveni, Minister of Finance, Economic Planning and Development Matia Kasaija, Governor of Bank of Uganda Tumusiime-Mutebile and other senior officials stepped into the meeting with visiting IMF Managing Director Christine Lagarde this last week, they had under their belt a …

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Man Utd dethrone Real Madrid as cash kings

London, United Kingdom | AFP | Manchester United’s relative failure on the pitch has not been reflected off it as for the first time in over a decade they top Deloitte’s Football Money League for revenue in the 2015/16 season. United — who were last on top in the 2003/04 …

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Royal Bank of Scotland fails BoE stress test

London, United Kingdom | AFP |  The Royal Bank of Scotland is the worst prepared among Britain’s lenders for another financial crisis, the Bank of England said Wednesday, forcing the state-rescued lender into a new capital-raising plan. The BoE, revealing its latest stress tests on Britain’s top seven banks, added …

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