Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari has attributed the current fuel scarcity and hike in the price of diesel to the non functionally of the refineries in the country. He also said that over 200 illegal facilities were operating in the country which had made matters worse. Appearing … Read more
Russia’s finance ministry asked foreign bondholders to speak directly to those withholding their payments. Russia has rejected claims that is has defaulted on its external debt for the first time in more than a century, telling investors to go to Western financial agents for the cash which Moscow claims was sent but bondholders did not … Read more
Two car-shipping carriers berthed at Sri Lanka’s Chinese-built Hambantota Port (AFP) THE HINDU: The Chinese-built Hambantota Port has become a millstone around Sri Lanka’s neck, as the seaport has landed Colombo in a dragon debt trap and is commercially unviable, with little hope of traffic revival in … Read more
Continuing to desert Indian equity markets and Foreign investors pulled out close to Rs 46,000 crore so far this month following monetary policy tightening by the Reserve Bank and US Federal Reserve, high oil prices, and volatile rupee. The net outflow by foreign portfolio investors (FPIs) from equities reached Rs 2.13 lakh crore unitll now … Read more
Forex traders Michael Amushelelo and Gregory Cloete have reached a financial crunch that they are now looking to the State to provide them with legal representation for their upcoming criminal trial. According to their lawyer Kadhila Amoomo, the pair could not come up with sufficient funds to enable them to appoint senior legal counsel of … Read more
ORLANDO, Fla., June 23 (Reuters) – If estimates that world markets face a record $4 trillion liquidity drain over the next 18 months are even close to accurate, hold on to your hats. That’s how much analysts at Morgan Stanley reckon G4 central banks – the U.S. Federal Reserve, European Central Bank, Bank of Japan … Read more
THE Government will continue to create a stable operating environment for business to curtail price increases that have the negative effect of eroding the purchasing power of incomes while putting pressure on inflation, a senior official said. Retailers, on their part, said it was critical that all sector players remain responsible and desist from speculative … Read more
Overview The country’s operating environment was relatively stable compared to the prior year, mainly on account of relaxation of Covid-19 restrictions. Official annual inflation closed the financial year at 72.7%, having declined from 240.6% for March 2021. The Reserve Bank of Zimbabwe (RBZ) foreign exchange auction platform managed to induce stability in the first half … Read more
By Alois Vinga CITIZENS Coalition for Change (CCC) political party has effectively backed the need for Zimbabwe to adopt its own currency but maintained that such a strategy must only be implemented under a conducive environment. The question of whether Zimbabwe can sustain a full scale US$ economy has been a subject of debate for … Read more
The continued development of artificial intelligence might make it even simpler for beginners to begin trading cryptocurrencies. Many cryptocurrency exchanges in the market give users a chance to benefit from algorithmic trading. It is a very generous offer for those who don’t have the time to continuously monitor the market or don’t possess sufficient expertise … Read more