Africa

Ethiopia overtakes Dubai as top feeder of air traffic to Africa

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Ethiopia has overtaken Dubai as a conduit for long-haul passengers to Africa, highlighting the success of the state airline’s expansion drive and the reforms of its new prime minister. Travel consultancy ForwardKeys said on Wednesday Addis Ababa airport had increased the number of international transfer passengers to sub-Saharan Africa for five years in a row, […]

Economy

Trump studying new auto tariffs after General Motors restructuring

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Trump studying new auto tariffs after General Motors restructuring By Reuters WASHINGTON – US President Donald Trump said on Wednesday that new auto tariffs were “being studied now,” asserting they could prevent job cuts such as the US layoffs and plant closures that General Motors Co announced this week. Trump said on Twitter that the […]

Economy

What the Blue Economy Conference in Nairobi is all about

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Kenya will for the next three days host the Sustainable Blue Economy Conference, a high-level meeting that is expected to be a game changer in the country and across the globe. At least 10 Heads of State and government, heads of international organisations and over 10,000 participants from various countries have registered for the conference […]

Economy

President Uhuru’s new approach to sustainable blue economy

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NAIROBI, KENYA: President Uhuru Kenyatta has called for collaboration among countries to confront threats to world water bodies. Speaking at the ongoing Sustainable Blue Economy Conference in Nairobi, the president noted that human activity had continued to affect the importance of oceans adversely. “We have paid inadequate attention to the impact of human activities on […]

Economy

State projects in limbo as wages, debt eat up revenue

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Salaries and debt repayment are taking the lion’s share of Kenya’s revenues, casting doubt on the effectiveness of the country’s fiscal consolidation efforts. The latest expenditure report from the National Treasury indicates recurrent expenditure and debt repayments gobbled up more than 70 per cent of the country’s expenditure for the first quarter of the 2018/2019 […]

Economy

Treasury holds Sh50b as austerity kicks in

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The Government’s austerity measures this financial year seem to be bearing fruit, but at the expense of counties and State departments that are now starved of cash. A new report by the National Treasury shows that the Government retained Sh50.5 billion in the first quarter with the exchequer balance as at end of October reading […]

Economy

Dollar stands tall, inches closer to its 16-month high

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  SINGAPORE The dollar built on last week’s gains and rose towards a 16-month high on Monday as traders expect the US Federal Reserve to keep tightening monetary policy. The Fed has reaffirmed its plan to raise interest rates by 25 basis points in December, followed by two more potential rate hikes by mid-2019 on […]