- CARACAS, March 11 (Xinhua) — U.S. sanctions against Venezuela have caused losses of nearly 700 billion U.S. dollars in GDP, Venezuelan Vice President Delcy Rodriguez said Monday. Venezuela’s oil industry sustained losses of almost 232 billion dollars due to the sanctions, which have in addition…
- NAIROBI, March 11 (Xinhua) — Kenya on Monday launched a World Bank-funded 51.7 million U.S. dollar loan project for small and medium enterprises (SMEs). Rebecca Miano, cabinet secretary in the Ministry of Investments, Trade and Industry, told journalists in Nairobi, the capital, that the supporting…
- ANKARA, March 11 (Xinhua) — As the holy month of Ramadan begins, Turks are embracing it with a mixture of joy and worry due to unprecedented economic challenges gripping their nation. Rising costs and soaring inflation have compelled many to tighten their belts, navigating through financial strains…
- NAIROBI, Kenya, Mar 11 – Eight universities have been selected by the Strengthening of Kenya’s Innovation and Entrepreneurship Ecosystem (SKIES) for a tech training program. In a statement, SKIES stated that Moi University, Dedan Kimathi University of Technology, Mama Ngina College, and Open…
- NAIROBI, Kenya, Mar 11 – Inaccessible credit facilities have been touted as a big challenge for most of Kenya’s micro, small, and medium enterprises (MSMEs), stifling most of them from growing. In Kenya, there is a financing gap with banks’ lending Sh783 billion out of an estimated need of Sh1…
- MANILA, March 11 (Xinhua) — The Philippines is poised to produce a “robust talent pool” of 128,000 semiconductor professionals, including engineers and technicians, by 2028, the country’s President Ferdinand Romualdez Marcos said Monday. The Philippines is “ready to meet the expanding needs of high…
- NAIROBI, Kenya, Mar 11 – Hair Manufacturing Kenya Limited will be required to retain 70 percent of Style Industries Limited, a maker of Darling hair, employees following approval by the Competition Authority of Kenya (CAK) for the former to acquire certain assets of the latter. The workers will…
- NAIROBI, Kenya, Mar 11 – APA Insurance was over the weekend named the leading general insurance company of the year by the Association of Kenya Insurers (AKI). Likewise, Joseph Kariuki from the insurer was recognized as the agent of the year, while Justina Mbona, who is also from APA, was…
- NAIROBI, Kenya, Mar 11 – Financial service provider Mogo has slashed monthly payments for car financing and logbook loans. The firm says this is anchored on cushioning Kenyans in the wake of harsh economics. Subsequently, monthly car financing will be reduced by 30 percent, while logbook loan…
- WASHINGTON, United States, Mar 11 – Chinese Ambassador to the United States Xie Feng said China has brought much-needed stability and certainty to the turbulent world over the past year, through its steady economic growth, deepening of reform and opening-up, and commitment to peaceful development…
- NAIROBI, Kenya, Mar 11 – Propak East Africa, the premier business-to-business (B2B) exhibition and conference for the packaging, printing, plastics, and food and beverage processing sectors in East Africa, is set to host over 150 exhibitors from more than 35 countries at the Sarit Expo Centre from…
- ULAN BATOR, March 11 (Xinhua) — The number of livestock killed by this winter’s extreme cold weather has risen to 3,925,734 in Mongolia, the State Emergency Commission (SEC) said Monday. Among the country’s 21 provinces, eastern Sukhbaatar has been the most affected by the severe cold called “dzud…
- NAIROBI, Kenya, Mar 11 – More women in Kenya are experiencing financial pressure compared to their male counterparts, a new report by the Old Mutual shows. The latest Old Mutual Financial Services Monitor (OMFSM) shows that 54 percent of females are undergoing difficulties compared to males’s 41…
- NAIROBI, Kenya Mar 11 – Transport Cabinet Secretary Kipchumba Murkomen says the Ministry is working on a policy proposal to establish an Airstrip Fund. Speaking in Migori County over the weekend, Murkomen said the special purpose levy will enable each county to have at least one airstrip for easy…
- CAIRO, March 10 (Xinhua) — Egypt expected to receive a 3-billion-U.S. dollars loan from the World Bank after the country reached an initial agreement with the International Monetary Fund (IMF) to expand the latter’s loan arrangement, Egyptian Minister of Finance Mohamed Maait told a press…
- NAIROBI, Kenya, Mar 11 – The Chief Executive Officer (CEO) of the Kenya Bankers Association (KBA), Habil Olaka, has resigned after serving in the position for over 13 years now. Olaka joined the umbrella body of banking institutions in 2010 and will be leaving the post on March 31, 2024. KBA…
- NAIROBI, Kenya, Mar 10 -The Savannah Medical Hospital has urged people living in the rural areas to embrace the Social Health Insurance Fund (SHIF) to improve maternal health. According to Wachira Murage, who led a special education session that aimed at providing quality information and guidance…
- NAIROBI, Kenya, Mar 10 – The Ahadi Wireless in collaboration with Livelihood Impact Fund have launched an initiative to provide affordable internet connectivity to the residents of Kibera, Nairobi County. According to the Director of Ahadi Wireless Johnstone Namusasi, an expanded affordable…
- BANDAR SERI BEGAWAN, March 10 (Xinhua) — The claw machine has been prohibited for its gambling elements and all licenses previously issued to companies will be discontinued in Brunei, according to local media reports on Sunday. According to local daily Borneo Bulletin, Brunei’s Minister of Home…
- NAIROBI, KENYA, MARCH 9- President William Ruto says that the government is seeking additional funds to see the completion of the Thwake dam by mid-year. Speaking in Unoa ground in Makueni county yesterday, the president stated that there was a shortage of funds and the government has approached…
- PHNOM PENH, March 10 (Xinhua) — Cambodia approved fixed-asset investment projects worth 1.39 billion U.S. dollars in the first two months of 2024, a significant rise of about 500 percent compared to the same period last year, a Council for the Development of Cambodia (CDC)’s report said on Sunday.…
- NAIROBI, Kenya, March 10 – The government has urged Kenyans living in the Diaspora to invest more at home and source for more job opportunities for Kenyans abroad. Speaking in Dar Es Salaam during a Diaspora Forum and cultural event, the Director of the Liaison & Partnerships Division at the…
- FRANKFURT, March 9 (Xinhua) — Germany’s green energy transition is facing challenges as a review report of its progress over the past three years showed that the government is lagging far behind its targets. The report released by the German Federal Court of Auditors (Bundesrechnungshof) on…
- NAIROBI, March 8 (Xinhua) — Experts gathered in the Kenyan capital of Nairobi on Friday to discuss how to raise tax revenues in Africa. The conference on reforming tax policy and institutional measures brought together more than 100 delegates, including senior government officials, researchers and…
- WASHINGTON, March 8 (Xinhua) — The U.S. Congress on Friday approved a bundle of six bills to finance certain sections of the federal government until September, narrowly sidestepping a potential partial shutdown. The U.S. Senate voted 75 to 22 Friday night to approve the package, which cleared the…
- NAIROBI, Kenya, Mar 9 – The Tourism Cabinet Secretary, Alfred Mutua, has urged Kazakhstan to increase its imports of farm produce from Kenya, especially tea and avocados. Mutua, who hosted a delegation from the country led by Erzhan Kazykhan, the Assistant to the President of Kazakhstan, stressed…
- NAIROBI, Kenya Mar 9 – In commemoration of International Women’s Day 2024 and alignment with its theme “Invest in Women: Accelerate Progress,” Wikimedia Foundation, the non-profit behind Wikipedia, has announced the launch of its “Wikipedia Needs More Women” campaign. In a statement, Wikimedia…
- NAIROBI, Kenya Mar 9 – Woodrow, a global communications consultancy, has launched a PR academy in Kenya to support the development of communications professionals. The academy targets to bridge the skills gap in the PR industry for the next generation of communications leaders. It will run a…
- NAIROBI, March 8 (Xinhua) — Kenyan President William Ruto said on Friday that climate change has become the “biggest threat” to the country’s food security. Speaking at an agricultural fair in Eldoret, about 280 km northwest of Nairobi, the capital of Kenya, Ruto said frequent heavy rains and dry…
- WASHINGTON, March 8 (Xinhua) — U.S. employers added 275,000 jobs in February, the highest level in two years, with the unemployment rate rising to 3.9 percent, the U.S. Labor Department reported Friday. Job gains occurred in health care, in government, in food services and drinking places, in…
- NAIROBI, March 8 (Xinhua) — Several Kenyan manufacturing entities on Friday announced a partnership with the World Wide Fund for Nature (WWF Kenya) to reenergize plastic cycling efforts and unleash green jobs. The new partnership between WWF Kenya and industries is domiciled within the Kenya…
- NAIROBI, Kenya, Mar 8 – Rwanda will, from May 16 to 17 this year, welcome over 2,000 leaders from Africa and around the globe for the 2024 Africa CEO Forum. Themed ‘At the Table or On the Menu’, the event will challenge attendees to take decisive action for Africa’s future amidst global economic…
- NAIROBI, Kenya, Mar 8 – Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, Musalia Mudavadi, has termed the entry of Commercial International Bank (CIB) into Kenya’s market as a significant step towards enhancing trade among Africa’s 54-member states. Speaking at the…
- NAIROBI, Kenya, Mar 8 – A report by the Parliamentary watchdog Committee has cited contractor non-performance, delayed exchequer releases, budget cuts, and inadequate project management as factors plaguing infrastructure projects in the country. These factors, the report by the Public Accounts…
- MOSCOW, Russia, Mar 8 – The United Nations’ atomic watchdog chief has met Russian President Vladimir Putin after “tense” talks with energy officials over safety at the Zaporizhzhia nuclear power plant, Europe’s largest. It came as a senior Russian military officer warned that the conflict in…
- NAIROBI, Kenya, Mar 8 – The International Budget Partnership (IBP) has announced the launch of a Feminist Advisory Group (FAG) to enhance its focus on gender and intersectionality in its in-country and organizational strategies. The group, composed of distinguished feminists from the Global South…
- NAIROBI, Kenya, Mar 8 – Family Bank has increased the cost of borrowing loans after increasing the interest rate to 17.55 percent. The hike comes after the Central Bank of Kenya (CBK) earlier increased its base lending rate from 12.5 percent to 13 percent last month. CBK’s move to increase the rate…
- WASHINGTON, March 7 (Xinhua) — In a highly partisan State of the Union address Thursday night, U.S. President Joe Biden launched a scorching attack on Donald Trump, his presumptive rival in the November election, and touted his achievements on issues such as inflation and immigration. With Biden’s…
- NAIROBI, Kenya, Mar 8 – The National Securities Exchange (NSE) has called upon the private sector to implement Women’s Empowerment Principles (WEPs) that will promote gender equality in their markets, industries, and organizations. NSE, which held this year’s International Women’s Day celebrations…
- NAIROBI, Kenya, Mar 8 – Diamond Trust Bank (DTB) has adopted the Common Reporting Standard (CRS), giving the lender the mandate to collect and report transactions amid the Kenya Revenue Authority’s (KRA’s) efforts to combat tax evasion. The implementation of the CSR comes after the taxman embraced…
- NAIROBI, Kenya, Mar 8 – The Ministry of Information, Communications, and the Digital Economy (ICT) is welcoming submissions for those looking to participate in the Connected Africa Summit 2024 Innovation Awards. The Awards honor a number of innovative ICT products and solutions that improve society…
- NAIROBI, Kenya, Mar 8 – The Kenya Revenue Authority (KRA) has joined hands with Standard Chartered Bank to enhance revenue mobilization through an improved compliance support framework. The framework will prioritize data security and privacy, incorporating encryption, access controls, and data…
- SAN FRANCISCO, March 7 (Xinhua) — A tire fell off a United Airlines flight departing from U.S. San Francisco International Airport (SFO) to Osaka, Japan on Thursday morning. “United flight 35 lost one tire after takeoff from San Francisco,” the company said in a statement, referring to the Boeing…
- NAIROBI, Kenya, Mar 8 – Kenya has pledged to reinforce its relationship with Kazakhstan to boost the economic potential of both countries. According to Transport Cabinet Secretary (CS) Kipchumba Murkomen, who hosted a delegation from Kazakhstan led by the external affairs assistant Erzhan Kh.…
- By Annet K’ogai NAIROBI, Kenya, Mar 8 – As we celebrate International Women’s Day in 2024, it’s imperative to reflect not only on the progress made but also on the work that remains. This year’s theme, “Inspire Inclusion,” calls for a collaborative effort to create environments where all…
- LONDON, United Kingdom, Mar 8 – The European Union will invest 210 million euros ($229 million) in the West African nation of Mauritania, in return for its help in slowing the flow of migrants into the bloc via the Canary Islands. European Commission President Ursula von der Leyen, Spain’s Prime…
- NEW DELHI, March 7 (Xinhua) — The Indian government on Thursday approved a 1.25 billion U.S. dollar investment in artificial intelligence (AI) projects, officials said. “In furtherance to the vision of Making AI in India and Making AI Work for India, the cabinet chaired by Prime Minister Narendra…
- NAIROBI, Kenya, Mar 8 – The Public Accounts Committee (PAC) of the National Assembly has advised the National Treasury to implement regular sensitization and capacity-building initiatives for all accounting officers, finance staff, and procurement officers throughout the government. These programs…
- ISTANBUL, March 7 (Xinhua) — The U.S. dollar’s ascent against the Turkish lira continued on Thursday, leading to increased demand for the U.S. currency among Turkish citizens. The dollar was trading at 31.85 liras at 2 p.m. local time (1100 GMT), showing a slight increase from Wednesday’s closing…
- NAIROBI, Kenya, Mar 7 – The government is looking to hasten compensation for human-wildlife victims, coming at a time when survivors have been complaining of the lethargic process. Today, the Ministry of Tourism unveiled the National Human-Wildlife Coexistence Strategy and Action Plan, which also…