The World Bank and the International Monetary Fund (IMF) have teamed up to fight the deadly COVID-19 virus commonly referred to as coronavirus. The IMF Managing Director, Kristalina Georgieva and World Bank Group President, David Malpass issued the following joint statement. “The IMF and the World Bank Group stand ready
Read More
China is transferring tens of thousands of Uighur detainees out of internment camps and into factories that supply some of the world's leading brands, an Australian think tank said Monday. Top global brands such as Apple, BMW and Sony have been accused of getting supplies from factories using the forced
Read More
African governments need to be tougher when negotiating the terms of Eurobonds and commercial loans, the African Development Bank said. Some external debts mature before the infrastructure projects they fund start generating returns, which raises refinancing risks, the president of the development-finance lender warned. Neither should African borrowers be “price
Read MoreToshiba Energy Systems & Solutions Corporation (hereinafter "Toshiba ESS") announced that the company, Toyota Tsusho Corporation and Turkish engineering company Egesim Energy Electro-Mechanic Construction Contracting Co., Ltd. have received an order of engineering, procurement and construction for Aluto Langano Geothermal Wellhead Power System in central Ethiopia, which is developed by
Read More
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva Wednesday announced that the International Monetary Fund has secured sufficient financing pledges to allow the Fund to provide comprehensive debt relief to Somalia. Over 100 IMF member countries have pledged to provide more than SDR 242 million (US$334 million) in financing.
Read More
The Algerian health minister has confirmed the country's first case of the coronavirus in an announcement on state-owned ENTV on Tuesday evening. The minister Abdel Rahman Ben Bouzid said the patient is an Italian man who arrived in the country on 17 February, Reuters news agency reports. The patient has
Read More
The Bill and Melinda Gates Foundation has donated $10m (UShs36.8bn) to help fight locusts in the East African region. The contribution will be given to the UN's Food and Agriculture Organisation (FAO) that appealed for funds to fight the locust invasion that is threatening food security. FAO Director-General QU Dongyu
Read More
International soccer star Didier Drogba (pictured) has helped his birthplace, Côte d’Ivoire (Ivory Coast), strike gold by helping to collect MOUs for a total of $15 billion (UShs55 trillion) in commitments to back tourism projects in the West African country. The breakthrough comes ahead of the UNWTO Forum for Africa,
Read More
Uganda’s richest man, Dr. Sudhir Ruparelia (pictured) has been named the Honorary Consul of the Federal Democratic Republic of Nepal to Uganda. Dr Sudhir is the founder and Chairman of the multibillion Ruparelia Group, a 28-company conglomerate invested in financial services, real estate, education, hospitality, agriculture and media. The group
Read More
BIARRITZ, FRANCE - AUGUST 25: British Prime Minister Boris Johnson and South Africa's President Cyril Ramaphosa join G7 leaders and guests as they gather for a family picture in front of the Biarritz lighthouse on the second day of the annual G7 summit on August 25, 2019 in Biarritz, France.
Read More
