As US, Britain are sucked into Gaza war, container rates soar on concerns of prolonged Red Sea disruption, inflation
Rates on the Shanghai-Europe route rose 8.1 per cent to $3,103 per 20-foot container on Friday from a week earlier, while the rate for containers to the unaffected US West Coast soared 43.2 per cent to $3,974 per 40-foot containers week on week, leading ship broker Clarksons said on Friday.
Shock measures: Argentina’s annual inflation soars to 211.4 per cent, the highest in 32 years
The data reflects the strong impact of a series of shock measures, including a 50 per cent devaluation of the nation’s currency, implemented by right-wing President Javier Milei in hopes of eventually bringing the country’s roaring inflation under control.
Global debt rush sparks hope for strained developing countries to regain market access this year
The prime contenders to test the market’s risk threshold and appetite for debt yielding 10 per cent are Angola, Kenya, Nigeria and El Salvador, say analysts at Morgan Stanley.
Kenyan shilling’s haemorrhage against US dollar runs on as Ghana, Zambia’s come under pressure
Ghana’s cedi is expected to come under pressure due to increased demand from the manufacturing and energy sectors amid low dollar supplies, traders said.
‘Visa by another name’, travellers to Kenya tetchy over $30 Electronic Traveller Authorisation fee
The government said the new system was in line with the country’s “security and other strategic interests” and was intended to “boost tourism and attract more foreign investment to Kenya.”
German software firm fined $222m for bribery schemes in Kenya, Tanzania, Malawi and Ghana
The Walldorf, Germany-based company said it “separated from all responsible parties” more than five years ago, and that the accords end all compliance-related investigations in the United States and South Africa.
US consumers group sues Starbucks over human rights abuses on tea and coffee farms in Kenya, Brazil
US National Consumers League said in its lawsuit Starbucks has continued using suppliers after abuses were uncovered, and even certified them as ethical according to purported standards it developed itself.
US, UK forces repel ‘largest attack’ by Houthis as German and Holland skip Red Sea shipping channel
US Central Command said no injuries nor damage were reported, adding that this was the 26th Houthi attack on commercial shipping lanes in the Red Sea since November 19.
United Airlines finds loose bolts on several 737 MAX planes, raising pressure on Boeing aircraft
Alaska Airlines said it was waiting for final revised guidelines from Boeing before it could start inspecting planes and said it was ready to begin as soon as it received required FAA approvals. Boeing said it was staying in close contact with MAX 9 operators and would help customers address any findings during inspections.
Nigerian, Kenyan and Ugandan currencies tumble further against US dollar in January
Commercial banks quoted the Kenya shilling at 157.00/158.00 per US dollar compared with last Thursday’s close of 156.50/157.50.
