Swiss Army to protect World Economic Forum in Davos
Davos braces for heightened security with 5,000 troops deployed as the Swiss Defense gears up for WEF 2024.
Economists: New year expected to see decline in inflation
Global inflation expectations, though consistently above central banks’ targets, show decline in 2024, according to survey
OPEC December oil output rises before new cuts, Angola exit
Modest rise in OPEC’s December oil production as Saudi cuts meet Iraq, Angola, and Nigeria boosts.
Niger reinstates call tax to boost struggling economy
Economic measures adopted in Niger to counter sanctions and boost economy.
Global economic growth estimated to slow to 2.4% in 2024
2024 is projected to be ‘another tough year,’ UN chief says, adding: ‘2024 must be the year when we break out of this quagmire’
TotalEnergies hires former Benin PM to assess E Africa land purchases
Amidst lawsuits, TotalEnergies hires consultant to review land purchases for Africa energy projects.
TotalEnergies engages ex-Benin PM for East Africa land review
This move comes amid legal action against TotalEnergies by activist groups, spearheaded by Friends of the Earth France
Tesla produced nearly 495,000 vehicles, delivers over 484,000
Electric carmaker manufactured more than 1.8M vehicles last year
Tesla loses EV crown to Chinese rival BYD
Chinese automaker BYD has overtaken Tesla as the world’s leading producer of electric vehicles.
Cameroon braces for fuel price hikes amid subsidy cuts
Cameroon’s President Biya announces impending fuel price increases due to subsidy cuts.
Russia assumes chairmanship of economic bloc for 2024
Putin says BRICS attracting further support from countries sharing bloc’s underlying principles
Top 10 best international airports in Africa in 2023
Africa is emerging as a preferred global destination for travellers, driven by a thriving tourism and business sector.
US stock market closes 2023 with best performance in years
S&P jumps 24.2% in 2023 with longest winning weekly streak since 2004; Nasdaq soars 43.4% for highest annual gain since 2020
Benin removes suspension of transiting goods to Niger
Benin has lifted its suspension of imported goods transiting to Niger through the port of Cotonou
Iran, Russia finalize deal to trade in local currencies instead of US dollar
Last year, Tehran and Moscow announced that they planned to use local currencies instead of US dollars in mutual commercial transactions
UK eyes Morocco to boost trade with Africa in post-Brexit era
Ditching France, Morocco eyes UK for trade and security. Ambassador says “buy your tomatoes from Morocco” post-Brexit.
Ethiopia fails to make bond payment, officially defaults
Africa’s 2nd most populous nation, Ethiopia, defaults on $33 million bond, joining Zambia and Ghana in debt restructuring.
Expert forecasts ‘very explosive’ 2024 for Bitcoin
Bull market on horizon again, may last longer as bad actors removed from industry, says blockchain consultancy CEO Brandon Zemp
Libya’s stock market resumes trading after more than 9 years
Libya’s Stock Market resumed trading on Monday at a hall in the capital Tripoli after more than nine years of closure because of the political and security situation.
Nigeria to reclaim union, keystone banks from ex-CBN in fraud probe
Former CBN chief Emefiele faces probe over illegal bank acquisitions using “dirty money.” Government to buy banks back.
Maersk set to resume shipping activities in the Red Sea
Maersk announced Sunday that it will resume operations in the Red Sea and the Gulf of Aden
Nigerian central bank lifts ban on crypto trading
Nigeria reverses its crypto ban, ushering in a new era of regulated digital asset transactions.
Zambia’s president faults private creditors for debt deal delays
With $18.6 billion in debt upon its default in 2020, Zambia reached a preliminary agreement in October with foreign lenders
IMF revises restructuring Zambia proposal, releases $187 million
Zambia gets financial aid despite default; currency instability, inflation challenges persist.
South African platinum miners end underground protest
Platinum workers demand better conditions, sparking concerns over South Africa’s mining industry.
Ghana economic growth slows, worst in years
Ghana’s slowest growth in years as industry falters, debt deal crucial.
Botswana eyes Namibian port route to bypass S Africa’s logistical woes
South Africa’s woes spark Botswana’s independent trade route: New rail line to connect with Atlantic port.