Ukraine has sharply decreased its exports of agricultural products to Asian and African countries in 2023 due to blocked seaports in the Black Sea, which has traditionally been the main export route, agricultural business association UCAB said on Thursday. A […]
Central bank digital currencies have the potential to replace cash, but adoption could take time, said Kristalina Georgieva, managing director of the International Monetary Fund on Wednesday. “CBDCs can replace cash which is costly to distribute in island economies,” she […]
Saudi Arabia’s annual inflation rate eased to 1.6% in October, from 1.7% the previous month, government data showed on Wednesday, with housing rents once again the main driver. Prices of housing, water, electricity, gas, and other fuels rose 7.8% in […]
Nigeria’s naira firmed to 1,000 per dollar on the black market on Monday, online platform abokiFX showed, recovering from a record low of 1,300 naira, after the central bank started to clear outstanding currency forwards owed to banks. The naira […]
GCC states have unanimously approved the proposed unified tourism visa system for the region, setting the stage for a new era in the highly crucial economic sector. The system, which is expected to come into effect between 2024 to 2025 […]
The dollar’s rebound extended for a third day on Wednesday after some Federal Reserve policymakers left the door open to further rate hikes, as traders looked to a speech from Chair Jerome Powell on the central bank’s future policy path. […]
Aafaq Islamic Finance has partnered with Al Ansari Exchange to enhance customer experience by offering a range of services. The partnership is designed to offer a user-friendly payment avenue for Aafaq credit card holders. Within the framework of this collaboration, […]
The Organization of the Petroleum Exporting Countries and Allies (OPEC+) sees a healthy global economy growing, despite the broad challenges of inflation. The United States is doing well, although Europe is struggling, general secretary Haitham Al Ghais told the Argus […]
Uganda and Vitol Bahrain have chosen the Dar es Salaam port in the capital city of Tanzania as its entry point for its oil imports. This was done to foster the relationship between both East Africa countries. The move follows […]
The Ugandan government is on the brink of replacing the open tender system currently employed by Ugandan firms for the procurement of petroleum products from Kenya. Energy Minister Ruth Nankabirwa has presented the Petroleum Supply (Amendment) Bill 2023 in parliament, […]
