The United States (US) economic output grew at the fastest pace on record last quarter as businesses began to reopen and customers returned to stores. But the economy has climbed only partway out of its pandemic-induced hole, and progress is slowing. The Gross Domestic Product grew 7.4 percent in the third quarter, the Commerce...
Read MoreZambia has reached deal with the China Development Bank (CDB) to defer debt repayments that were due this month, Zambia’s government said, without giving the size of the debt or the repayments that were due. “Under the terms of our agreement with CDB, interest and principal due on 25th October 2020 will be deferred....
Read MoreGhana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. The elevated borrowing to cover the spending shortfall has seen the country’s three-year and longer-dated local bond yields rise on the secondary market even as those of its peers...
Read MoreSouth African Finance Minister Tito Mboweni is set to present the government’s revised spending framework for the next three years on Wednesday, four months after a supplementary budget that was unveiled to reallocate funds to help pay for a $31 billion) stimulus package announced by President Cyril Ramaphosa. Anaylsts said the finance minister will...
Read MorePassenger traffic in Europe’s biggest hub airports declined more than 80 percent in September compared with the previous year’s levels, data for London Heathrow, Frankfurt Airport and Paris Charles de Gaulle reveals. Heathrow, Europe’s busiest airport, on October 12, disclosed its passenger numbers fell 81.5 percent to 1.26 million in September, a report by...
Read MoreThe number of kidnapping cases reported in the Gulf of Guinea, off the West African coast in the first nine months of 2020 was 40 percent higher than the same period in 2019, and now accounts for 95 percent of global maritime kidnappings, the latest report by the International Maritime Bureau (IMB) stated. Eighty...
Read MoreBy Samuel Bankole Transparency International, the global anti-corruption watch has called on all countries that are signatories to the OECD Anti-Bribery Convention, as well as the other major global exporters to enforce sanctions against companies from their jurisdiction offering bride to win contracts in foreign countries. The Anti-corruption watch said developed countries should also...
Read MoreThe World Trade Organization (WTO) on Tuesday gave the European Union (EU) permission to impose tariffs on $4 billion worth of American products annually in retaliation for illegal subsidies given to the U.S. plane maker Boeing, a move that could result in levies on American airplanes, agricultural products and other goods, according to The...
Read MoreBy Samuel Bankole The International Air Transport Association (IATA) said out of 1.2 billion passengers that have been transported by its members since the start of the year, only 44 cases of COVID-19 reported in which transmission is thought to have been associated with a flight journey. IATA said the 44 cases are inclusive...
Read MoreThe African Development Bank (AfDB) has urged Japanese investors to collaborate with local partners in Africa in order to stimulate growth on the continent. The continental lender, which hosted the Japanese private sector on a Webinar on doing business in Africa, said Africa need more investment from Japan and the bank is ready to...
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