Lufthansa Posts $814 Million Profit in Q3 2022
Germany's airline giant Lufthansa, has posted a net profit of 809 million euros ($814 million) in the third quarter of 2022, compared to a loss of 72 million euros in [...]
China's Loans to Kenya Drops to $6.83 billion in June 2022
China's loans to Kenya have dropped for the first time in 15 years, to $6.83 billion in June from $7.05 billion a year ago and $3 billion in 2016. Treasury data [...]Elon Musk to Slash Twitter Workforce by 75% after Buy Out
Elon Musk’s is planning to slash Twitter's staff by nearly 75% in a matter of months. Musk, whose $44 billion purchase of the social network is set to close by [...]Boeing Offers Air India 737 Max Jets As US-China Trade Tensions Continue
Boeing Co. is offering 737 Max jets, once slated for Chinese customers, to Air India Ltd. as the planemaker tries to offload some of the roughly 140 aircraft it’s currently not allowed to [...]Kenya Signs MoU with Netherlands to Enhance Trade and Investments
The Kenya Investment Authority (KenInvest) and the Netherland Business Hub (NLBH) have signed a Memorandum of Understanding (MOU) to reinforce their collaboration towards increasing trade and investment between the two [...]IMF Downgrades its Global Growth Forecast on Rising Inflationary Pressures
The International Monetary Fund (IMF) on Tuesday downgraded its 2023 world economic outlook, citing Russia’s ongoing war against Ukraine, widespread inflationary pressures and higher interest rates boosting borrowing rates for [...]
Elon Musk Revives Twitter's $44 Billion Buyout Deal; Share Price Jumps
Elon Musk revived his bid forTwitter Inc.at the original offer price of $54.20 a share, potentially avoiding a courtroom fight over one of the most contentious acquisitions in recent history. [...]IMF to Advance Loans to Poor Nations on Rising Food Crisis
The IMF has launched a new Food Shock Window programme that seeks to help vulnerable countries address the prevailing food insecurity. The programme, which is a funding mechanism, is targeting [...]Is Credit Suisse On the Verge of Collapsing?
Credit Suisse Bank CEO memo, intended to flicker some hope about the struggling major bank, did not go well. At a time when the CEO and other top leaders are [...]
Sri Lanka's Inflation Surges to Nearly 70% Amidst IMF Bailout
Sri Lanka’s inflation rate hit nearly 70 per cent in September for a 12th consecutive monthly record; official data showed Friday after a year of shortages, price hikes and economic [...]U.K. Enters into a Recession as Bank of England Raises Interest Rate to 2.25%
The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders. [...]Egypt Set to Raise Suez Canal Transit Fees for ships by 15% in 2023
Egypt has said that it will increase transit fees for vessels, including oil-laden tankers, passing through the Suez Canal, one of the world’s most crucial waterways. The Suez Canal Authority said in [...]
