Economy & Trade

Nigeria's Tinubu presents 2025 budget, predicts inflation fall

Tinubu said spending priorities in 2025 would include security, infrastructure and measures to ease a cost-of-living crisis.

Mauritius issues arrest order for ex-central bank governor

Police in Mauritius have issued an order for the arrest of the country's former central bank governor over alleged conspiracy to defraud the government.

Ghana's economy grows by 7.2% in third quarter of 2024

Ghana's economy quickened in the third quarter in a further sign of the West African country's ongoing economic recovery.

Adani to fund Sri Lanka port without US investor's input

India's Adani Ports and Special Economic Zone Ltd has said it would finance its Colombo port terminal project through internal accruals and a capital management plan.

South Sudan fires army, police and central bank chiefs

President Kiir's announcement late on Monday gave no reasons for the dismissals.

Burundi's Ndayishimiye fires finance minister

The country is grappling with fuel shortages and a scarcity of foreign currency.

Nigeria economic crisis: Senators move to criminalise maize exports

A new bill seeks make it illegal to export unprocessed maize from a minimum of one metric ton amid a cost-of-living crisis.

US company to pay $122 million to settle South Africa bribery case

South Africa's energy company, Eskom, had hired McKinsey and McKinsey to help it execute a "turnaround plan''. The US-based company allegedly paid bribes to South African officials.

Mali issues arrest warrant for CEO of major gold company

Mali, one of Africa's biggest gold producers, has issued an arrest warrant for Barrick Gold CEO Mark Bristow.

Why is the once-mighty German economy struggling in a changing world?

Europe’s largest economy is under unprecedented strain as it faces headwinds on multiple fronts. Can it adapt and secure its global standing?

Turkish defence industry sets new export record ahead of year-end

Türkiye’s defense industry has broken records with $5.8 billion in exports as of November 2023, driven by global demand for combat drones and advanced systems.

China bans export of critical minerals to US

China has banned exports to the US of the critical minerals gallium, germanium and antimony that have widespread military applications.

Developing nations repaid $1.4t debt in 2023: World Bank

Developing nations repaid $1.4 trillion in debt owed to the World Bank, the international lender said on Tuesday.

Can Türkiye drive into the heart of Europe’s EV automotive market?

Powered by record-breaking exports, strategic investments in electric vehicles (EVs), and a clear focus on future mobility, Türkiye is positioning itself as a formidable player in the rapidly evolving industry.

Türkiye, Oman ink 10 agreements during sultan's historic first visit

Ankara seeks to boost trade with Oman to an initial target of $5 billion, highlighting the growing economic potential between Türkiye and the Gulf state, Turkish President says.

SA's financial stability outlook improves: Central bank

South Africa's financial stability outlook has improved following successful elections, reduced power cuts, among other factors.

Angola not negotiating IMF loan: Finance minister

Angola is not negotiating with the IMF for a new loan package, the country's finance minister said on Tuesday.

Mauritius newly-elected PM keeps finance minister role

Navin Ramgoolam won a landslide victory that gave his Alliance du Changement (ADC) coalition 60 of the 62 national assembly seats.

SA central bank cuts interest rate to 7.75%

South Africa's central bank has cut its benchmark interest rate by 25 basis points to 7.75% amid easing inflation.

How inflation and living beyond means create a perfect debt storm

Jumping into debt without a proper exit plan pushes many into a cycle of borrowing from which they can't get out, as many people caught in Kenya's economic crisis are learning.

Mali releases Australian gold mining company's executives

The Australian mining company Resolute signed a $160 million deal with the government of Mali after its executives were arrested over tax issues.

Live Updates: Israeli military onslaught on West Bank's Jenin enters 2nd day

Israel's genocide in besieged Gaza — now in its 411th day — has left 43,972 Palestinians dead and wounded more than 104,008. In Lebanon, Israel has killed more than 3,544 people since October 2023.

Can Türkiye’s trade ties with the US improve as Trump is back in office?

Ankara remains optimistic about forging a more equitable and dynamic trade partnership with Washington, seeking a pragmatic and transparent dialogue under the Trump administration.

Nigeria inflation surged over 33% in October: Government

Nigerians are facing one of the worst economic crises in years with monetary policies that have pushed the naira currency to an all-time low against the dollar.