Kenya’s cabinet on Tuesday ordered all ministries and state departments to cut 10% of their operational budgets for the 2023/24 (July-June) fiscal year, the presidency said. The East African nation is facing deepening economic challenges due to growing debt repayments,…
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The end to Saudi Arabia’s oil production cuts may be closer than investors anticipate, Bob McNally, founder of the Rapidan Energy Group, told Bloomberg TV on Thursday. US crude prices hit their highest level for the year this week, but…
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FinTech companies and those investing in hiring “top talent” are dominating the list of the best start-ups in the UAE and Saudi Arabia this year, as revealed by professional network LinkedIn. Strong government support and a push towards innovation has…
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The China-backed Asian Infrastructure Investment Bank (AIIB) has set up its first overseas office at the Abu Dhabi Global Market (ADGM). A first of its kind outside the AIIB headquarters in China, the operational office will serve as a strategic…
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The dollar hit a 10-month high on Wednesday, pushing the euro to an almost nine-month low and keeping the yen in intervention territory, as investors bet that the United States economy will fair better with higher interest rates than competitors.…
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Salt Asset Management (SAM) is no longer permitted to render any financial services to any financial customers and on behalf of any financial product provider after the Financial Sector Conduct Authority (FSCA) withdrew its operating licence. The watchdog confirmed in…
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After the first weekly loss in four, oil bulls will be raring to push crude oil towards the higher $90s, while top buyer China again faces its recurring bogeyman — an ailing property sector — that’s weighing on its stock…
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The South African Reserve Bank (SARB) held its key interest rate steady on Thursday, but policymakers cited continued risks to the inflation outlook. The central bank kept its main lending rate unchanged at 8.25%, the second meeting in a row…
Read moreEmerging market stocks recovered from a four-day losing streak at the end of a week packed with major central bank decisions, while the Indian rupee firmed after JPMorgan’s plans to include the country’s local bonds in its debt index. MSCI’s…
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When COVID-19 presented a global health emergency more than three years ago, it also exposed weaknesses in health financing that led to delays and inequities in distributing essential vaccines, tests, and treatments for low- and middle-income countries. This week, DFC…
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