Kenya experiences the fastest decline in imports from Tanzania in seven years, as trade disputes drive Nairobi to seek goods from distant sources. Tanzania’s cereal export restrictions led to a one-third decrease in goods trucked to Kenya over six months, […]
The UAE’s public budget experienced a 32 percent increase, reaching 650 billion dirhams ($176 billion) in June 2023, up from 491.4 billion dirhams in the same period of the previous year, as reported by the Emirates News Agency, also known […]
China has long been the engine of global growth. But in recent weeks, its economic slowdown has alarmed international leaders and investors who are no longer counting on it to be a bulwark against weakness elsewhere. In fact, for the first time […]
China’s economy is facing headwinds ranging from an unstable property market to weak consumer demand. Experts told Insider that a worsening scenario in China bodes poorly for global markets and other economies like the US. Both Janet Yellen and Joe […]
China’s heavily indebted property developer Evergrande Group on Thursday filed for Chapter 15 bankruptcy protection in a U.S. bankruptcy court. In a filing to the Manhattan bankruptcy court, the firm sought recognition of restructuring talks underway in Hong Kong, the […]
Russia added $600 billion of total wealth last year, a report by UBS indicated. The number of millionaires and ultra-high-net-worth individuals also rose, despite the war in Ukraine raging on. Meanwhile, the US and Europe shed trillions of dollars worth […]
It just may have been the week that broke the dollar. The greenback’s worst slump since November has a bevy of strategists and investors saying a turning point is finally at hand for the world’s primary reserve currency. If they’re […]
Global wealth declined in 2022 for the first time since 2008, UBS and Credit Suisse economists said Tuesday. Americans were hit hardest as stocks and bonds tumbled throughout the year, the banks said. Roughly 1.7 million US adults lost their […]
The group — which comprises Brazil, Russia, India, China, and South Africa — has been calling for ways to end the dollar’s dominance as the world’s premier reserve currency, and Brazilian President Luiz Incio Lula da Silva has called for a common […]
Trade between Rwanda and Uganda, particularly in Burera District, has experienced a significant upswing since the reopening of the border between the two countries in January 2022. One recent initiative implemented by the district involves an agreement reached two months ago […]
