Germany's Inflation Hits New High of 7.9% in May
Germany’s annual inflation rate climbed to a new record of 7.9% in May, up from 7.4% in April, according to a report by Bloomberg. Germany's consumer prices increased to 8.7% [...]
Oil Prices Hit Highest in 2 months as Shanghai Eases Lockdown Restrictions
Oil prices climbed on Monday, hitting their highest in more than two months, as traders waited to see if the European Union would reach an agreement on banning Russian oil [...]IFC and PFG to Support Growth-Stage Firms in Emerging Markets
IFC, the lending arm of the World Bank, has partnered with Partners For Growth(PFG), a US-based fund manager, to provide capital to fintechs, software firms and those dealing with e-health [...]
Fintech Firm, Bankingly Raises $11 Million for Expansion into New Markets
Financial technology firm which operates in Kenya, Bankingly, has raised $11 million in equity financing as it seeks to expand in Kenya and regional countries. Investors who took part in [...]
TotalEnergies Buys 50% Stake in U.S. Renewables Company Clearway Energy Group
TotalEnergies said it has agreed to buy 50% of Clearway Energy Group, the fifth-largest renewables company in the United States, marking the French group's largest U.S renewables energy acquisition. The French [...]India Imposes Restrictions on Sugar Exports to Cap a Price Surge
India has imposed restrictions on sugar exports for the first time in six years by capping this season's exports at 10 million tonnes, a government order said, to prevent a [...]IMF Warns of Growing Threat to Global Economy
IMF leaders warned that growing pressures undermining global integration, including an increase in trade barriers, threaten economic growth worldwide. In a message to officials gathering in Davos, Switzerland, IMF chief [...]Nairobi Central Railway Station Project Designs Completed
Nairobi Central Railway Station project designs have been completed by Atkins UK on behalf of Kenya Railways Corporation and the Ministry of Transport. In January 2020, President Uhuru Kenyatta asked [...]IMF Delays Credit Deadline for Somalia by 3 Months
The International Monetary Fund (IMF) has agreed to delay the deadline, by at least three months, for Somalia’s credit facility in a move which could free up the country’s access to [...]Relief as Indonesia Lifts Export Ban on Palm Oil to Global Markets
Indonesia, the world’s biggest shipper of edible oils, lifted a ban on palm oil exports a move that will bring relief to the global market after the war in Ukraine [...]Kenya to Improve Trade Ties in Switzerland as President Kenyatta is Set To Open New Chancery in the Swiss Capital
President Uhuru Kenyatta is set to opena new chancery in the Swiss Capital of Bern to enhance trade tries between Kenya and Switzerland. Speaking ahead of President Kenyatta’s official visit [...]IMF Warns Effects of Ukraine Conflict to hit Sub-Saharan Africa
The IMF has said the ongoing war in Ukraine would lead to increased living and transport costs in most countries in Sub-Sahara Africa. In its April 2022 Outlook for Sub-Sahara [...]
