With low ease of doing business index than the likes of Kenya, Morocco and Kosovo, EU finds it hard to match US on growth
The US economy is growing at more than 2 per cent per year while the euro zone is stagnating. Productivity – or the output of each hour worked and euro invested – has also grown more slowly on the east side of the Atlantic for 30 years.
South African prosecutors seek extradition of suspects in $580,000 stolen from the president’s house
Two men and a woman have been arrested and charged with the theft. Prosecutor Nkhetheni Munyai said at a hearing on Friday in the northern town of Bela-Bela that an extradition process to bring other suspects to South Africa had begun. He didn’t say how many suspects or where they would be extradited from.
Money laundering watchdog Financial Action Task Force drops UAE, Uganda, Barbados and Gibraltar from ‘bad boys’ roster
Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, who is also Chairman of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism, welcomed the move and expressed his appreciation to those who had worked to bring it about.
Nigeria eyes interest rate hikes as economists urge CBN governor to follow Kenya’s monetary policy
The Central Bank of Nigeria (CBN) has not had a policy meeting since July, putting it out of kilter with the rest of the continent’s key central banks that hold meetings almost every second month.
UAE, Kenya seal comprehensive trade deal that covers food, mining and technology
UAE state news agency WAM quoted Kenya’s trade minister Rebecca Miano as saying the deal would play an important role in enabling Kenyan exports to reach important markets in Asia and the Middle East
EU watching keenly how Italy’s planned asylum seekers processing centres in Albania will work
The centres could help relieve chronic overcrowding at initial asylum processing centres in Italy, where hundreds of thousands of migrants are held after risky sea voyages across the Mediterranean Sea from Libya, Tunisia, Turkey and other countries.
Maize farmers in US in a quandary on back of a glut that’s driven prices into the ground
Record-large harvests in the United States and Brazil, increased competition for US grain exports, and limited domestic demand led to hefty amounts of corn locked away in storage, pushing US corn prices to their lowest level since November 2020 on Wednesday.
New York AG: Trump’s properties will be auctioned unless he pays $454m civil fraud fine
Trump’s ability to pay his mounting legal debts is increasingly murky after back-to-back courtroom losses. In January, a jury ordered him to pay $83.3 million for defaming writer E. Jean Carroll.
World Bank tells poor countries to grow ‘much faster’ to repay debt as bond sales hit $47 billion
The World Bank warned in its Global Economic Prospects report, opens new tab, published in January, that the global economy was set for the weakest half-decade performance in 30 years during 2020-2024, even if recession is avoided. Global growth is expected to slow for a third consecutive year to 2.4 per cent, before ticking up to 2.7 per cent in 2025.
South African animal rights activists up in arms after ship with 19,000 cattle causes a big stink in Cape Town
The National Council of the Society for the Prevention of Cruelty to Animals sent a veterinary consultant onboard the ship to assess the welfare of the animals, it said. The SPCA’s council said it was strongly opposed to the export of live animals by sea.
