Algerian energy company discovers 10 oil and gas reserves in H1
An official from Algeria’s state-run oil company, Sonatrach, announced that the company discovered 10 new oil and gas in the first half of this year
Oil down as investors wait on Chinese economy data to gauge demand
Oil prices down as investors wait on Chinese economy data to be released
Suez Canal makes $1 mln in revenues per hour first time in its history
For the first time in its history, the Suez Canal achieved revenues of one million dollars per hour
Africa’s startup ecosystem paves the way for economic transformation
Africa’s startup scene is experiencing a remarkable renaissance
$499 million to be paid by UBS, US banks to settle antitrust lawsuit
Goldman Sachs, JPMorgan Chase, Morgan Stanley, and UBS will pay $499 million to settle an antitrust lawsuit from investors alleging they conspired to stifle competition in the stock lending market
Kenyan judge orders Meta to settle with dismissed moderators
Meta, sacked moderators have 21 days to reach settlement – Kenya court
South Africa, China sign energy agreements during BRICS summit
Energy deals signed between South Africa, China at BRICS summit
Oil prices spike after low output, supply chain concerns
Oil prices up after supply chain concerns, low output
Oil prices decline by over 3% for the week ending August 18
Crude oil prices decline by over 3% for the week ending August 18
Zimbabwe will keep 30% of carbon credit revenue
Zimbabwe to retain 30% of carbon credit revenue
Nigerian naira sees a sharp surge on black market
Nigerian naira sees a sharp surge on black market
Saudi Arabia’s June oil exports drop to lowest level in 21 months
Saudi Arabia’s June crude oil exports reach lowest level in 21 months
Egypt to begin sugar trading on commodities exchange
Egypt to commence sugar trading on commodities exchange
Google plans to provide digital skills training to 20,000 Nigerians
Google to train 20,000 Nigerians in digital skills
Nigeria’s inflation hits 24.08% as food prices rise
The food inflation rate increased to 26.98 per cent in July from 25.25 per cent in June.
Kenya changes stance and reintroduces a fuel subsidy
The government on Monday reinstated fuel subsidies in a major U-turn
Swiss bank UBS agrees to pay $1.4B to settle mortgage fraud case
Settlement brings total amount of civil penalties to over $36B, says Justice Department
Oil prices up with China’s policy rate cut and weak dollar
China’s central bank unexpectedly cut key policy rates in bid to fuel economic recovery
Gabon allocates $163 million for ocean protection in debt-for-nature swap
Gabon to devote $163 mn to ocean protection in debt-nature swap
China reduces interest rates for medium-term lending facility, reverse repos
China cuts interest rates of medium-term lending facility, reverse repos
Libya opens doors for local companies to invest in oil sector
Libya gives domestic companies opportunity to invest in oil sector
For Sudanese innovation is crucial to survive through conflict
Sudanese start inventive businesses to survive conflict
Guinea inks new agreements for rail and port facilities at iron mining site
Guinea signs new rail, port deals for iron mining site
DR Congo announces major interest rate hike
The DR Congo’s central bank has announced a sharp increase in its main interest rate
South African manufacturing output rises 5.5% in June
South Africa’s manufacturing output rose 5.5% year on year in June
Biden moves to restrict some US technology investments in China
Biden moves to restrict some US technology investments in China
China’s exports drop in July, more than forecast
China’s exports dropped 14.5% year-on-year in July, more than market expectations