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…
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 …
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…
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…
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…
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…
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…
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…
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…
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…