The Chinese government is moving to curb domestic companies’ investments abroad in property, sports, entertainment and other fields, following a series of high-profile, multibillion-dollar acquisitions by Chinese firms, reports the AP. A document released Friday by the State Council, China’s Cabinet, was the latest move by regulators to tap the
Read More
Crude production data for June shows Russia remains the world's largest oil producer, according to the Joint Organizations Data Initiative (JODI). Russia produced 10.36 million barrels per day (bpd) during the month, while Saudi Arabia pumped slightly above 10 million bpd. The volume of production in Russia, according to the
Read More
Africa’s richest man, Aliko Dangote, plans to invest $20 to $50 billion (about UShs180 Trillion) in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals. The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5
Read More
The wife of Zimbabwean President Robert Mugabe is facing legal action after being accused of attacking a young woman at a party in South Africa. Grace Mugabe, 52, allegedly beat Gabriella Engels, 20, with an extension cord after finding her in a hotel with her sons Robert Mugabe Jr, 25, and
Read More
The desperate dig for survivors is resuming in Sierra Leone's capital, after mudslides and floods claimed the lives of more than 300 people. Their homes in Freetown were engulfed after part of Sugar Loaf mountain collapsed following heavy rain early on Monday morning. Many of the victims were still asleep
Read More
Winning a second disputed election may have been the easy part for Kenyan President Uhuru Kenyatta. Now he needs to tackle daunting economic challenges ranging from slackening growth and runaway government spending to an unemployment rate that tops 40 percent. Kenyatta resoundingly won an Aug. 8 rematch of a 2013
Read More
Protests rocked Siaya, Homa Bay and Migori counties as National Super Alliance (Nasa) supporters reacted to declaration of President Uhuru Kenyatta’s win. Protestors lit bonfires and engaged police in running battles on Friday night and Saturday, the Daily Nation reports. In Siaya, the body of a man shot by police
Read More
Robert Frederick Oliver Mwesigwa Nviiri, a Ugandan has founded Vule Airways, a privately-owned Ugandan registered airline that will hit the skies come November 2017. According to available information, the objective of the new airline that was founded in March this year is to fill the vacuum in the Ugandan air
Read More
President Uhuru Kenyatta and his rival Raila Odinga are both confident of winning the General Election. Speaking after casting his vote at Mutomo Primary School in Gatundu South Constituency, President Kenyatta said that he is confident that he will beat Mr Odinga, saying he believes that he has run a
Read More
Bitcoin's value has jumped to a record high, following a month of turmoil. The virtual currency reached $3,451.86 (£2,651) per coin in Monday trade, according to the Coindesk Bitcoin Price Index. It had never crossed the $3,000 mark until the weekend. The market value of all bitcoins in existence has
Read More
