Moscow – Russia is earning nearly $588 million per day from fossil fuel exports in March, marking a 17 percent increase compared to February, as disruptions in Gulf oil supplies drive global prices higher, according to a new analysis. The surge comes amid ongoing tensions in the Middle East, where…
Mombasa, Kenya – Kenya Ports Authority (KPA) Managing Director Capt. William K. Ruto has dispelled claims that the government intends to privatize the Ports of Mombasa and Lamu, emphasizing that ongoing reforms focus on attracting private investment rather than transferring ownership. Speaking on the government podcast Sema Na Spox –…
Panama City, Panama – Rising fuel prices and instability in the Middle East may create new opportunities for the Panama Canal Authority, according to its administrator, Ricaurte Vásquez. In an interview with The Associated Press on Thursday, Vásquez noted that higher energy, fuel, and navigation costs could make the interoceanic…
Egypt’s Ministry of Trade and Industry on Thursday introduced caps on bread prices, a move aimed at cushioning citizens from the economic impact of recent fuel price hikes. The directive mandates that bakeries clearly display both the prices and volumes of bread at their storefronts. Violations of the caps will…
Africa is losing nearly $200 billion annually due to climate-related destruction, according to recent estimates, as extreme weather events continue to damage infrastructure, disrupt agriculture, and threaten economic stability across the continent. With climate shocks intensifying, attention is turning to the Loss and Damage Fund, established during the COP27, to…
The Konza Technopolis Development Authority (KoTDA) has begun distributing electricity within Konza Smart City through its own advanced power distribution network, marking a major milestone in the development of Kenya’s Silicon Savannah. The new system enables KoTDA to manage and distribute power internally across Phase One of the city, enhancing…
Fleurette, a former holding company of Israeli billionaire Dan Gertler who is under U.S. sanctions has agreed to pay $30 billion to settle a Dutch investigation into corruption involving mining deals in the Democratic Republic of Congo (DRC). The Netherlands-registered firm has been under scrutiny since 2018 for allegedly engaging…
European airlines are continuing to suspend services across the Middle East as security concerns intensify amid the ongoing regional conflict. On Wednesday, KLM announced that it had cancelled all flights to Dubai until March 28, citing safety concerns linked to the war in the region. In a company statement, the…
The Aga Khan Fund for Economic Development (AKFED) has announced the sale of its entire stake in NPRT Holdings Africa Limited, the investment vehicle that holds a controlling interest in Nation Media Group (NMG). The transaction marks the end of AKFED’s 66-year association with one of East Africa’s most influential…
Egypt has raised domestic fuel prices by up to 30 percent, citing “exceptional” global energy pressures linked to ongoing conflicts in the Middle East that have disrupted oil supplies and shipping routes. The increases, announced on Tuesday by the Ministry of Petroleum, affect gasoline, diesel, and natural gas used in…