Category: Finance

World food prices hit record high in 2022: UN

PARIS, World food prices fell for a ninth month in a row in December but hit their highest level on record for the full year in 2022, UN data showed.Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukrai…

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US Pledging Tens of Billions of Dollars for Africa

The United States plans to commit $55 billion to Africa over the next three years, according to White House officials. The announcement comes as the administration of President Joe Biden hosts a two-day meeting with African leaders.The U.S. three-year …

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Will African Nations Get Debt Help from IMF and China?

Long-running tensions between the major international lenders and China were aired at a meeting in China’s Anhui province, where participants sought agreement on a way forward for some of the world’s most indebted countries, many of them in Africa.Repr…

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OPEC+ agrees to keep output levels unchanged

  VIENNA— Major oil-producing countries led by Saudi Arabia and Russia agreed to maintain their current output levels in a climate of uncertainty and ahead…

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Opec+ likely to maintain oil output levels

Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions…

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COP27: How China and Africa Fit in Debate Over ‘Loss and Damage’ Fund

At COP27, the United Nations climate change conference held in Egypt this month, China has figured prominently in a debate between Africa and Western nations…

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Philanthropist Bill Gates Pledges Additional $7 Billion for African Countries

Billionaire philanthropist and Microsoft founder Bill Gates pledged an additional $7 billion in development funds to Africa. The Bill and Melinda Gates Foundation said the…

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IFC Launched 225-Million-USD Platform To Boost Start-ups In Africa, Asia

NAIROBI– The World Bank’s private sector lending arm, the International Finance Corporation (IFC), launched a 225-million-U.S.-dollar platform, that seeks to strengthen venture capital ecosystems in…

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EXPLAINER: What’s Happening at Bankrupt Crypto Exchange FTX?

The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. The exchange, formerly one…

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WTO Predicts Sharp Slowdown in Global Trade Growth

Growth in global trade flows will be dramatically lower than expected in 2023, according to a report issued Wednesday by the World Trade Organization, as…

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