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Ethiopia’s Largest Cement Factory to Begin Operation Soon The Lemi National Cement Factory in Ethiopia, the country’s largest of its kind, is to begin production soon, company officials have said. The factory is expected to be completed in March, according to its constructor, Sinoma International Engineering Company. When fully operational, the factory is expected to […]

Oil Prices Steady as Blinken Visits Middle East Global prices of crude oil stabilized on Tuesday after sustained decline which started last week. Crude oil fell below $80 over slowdown in demand and rising tension in the middle East. Earlier today, brent crude futures steadied around $78 per barrel after a 0.9% gain in the […]

Global food prices inflation remains high – World Bank The World Bank declared in its latest Food Security Update report on Tuesday that available data on food prices showed high inflation in low, middle and high-income countries. It declared that the inflation level was greater than five per cent in 63.2 per cent of low-income […]

Chinese Yuan Rally after Crackdown on Vicious Selling The yuan, Chinese currency, rose to around 7.21 per US dollar, rebounding slightly from three-week lows as the prospect of more forceful and concrete policy measures to support Chinese assets lifted sentiment. Over the weekend, China’s securities regulator vowed to prevent abnormal market fluctuations and crack down […]

Uganda Inflation Rate Rises to 2.8% The annual inflation rate in Uganda rose to a five-month high of 2.8% in January 2024, up from 2.6% in each of the previous two months, according to statistics office. Last month, inflation surged to 2.6% from previous reading due to instability in prices of consumables. Upward pressure came […]

NAFDAC bans the Production of Alcoholic Beverages in Sachets The National Agency for Food and Drug Administration and Control (NAFDAC) has banned the production of alcoholic beverages in sachets and small bottles below 200ml. The Director-General of the agency, Prof Mojisola Adeyeye, announced the ban at a news conference on Monday in Abuja. Adeyeye said […]

MTNN, Tier-1 Banks Stock Drags NGX Down by N437bn Equities investors lost N436 billion in the stock market as profit-taking on telecom, and banking stocks dragged the Nigerian Exchange (NGX) down. Selloffs in the shares of MTN Nigeria, alongside Tier-one banks such as Zenith Bank and Guaranty Trust Holding Company (GTCO) plunged key performance indicators […]

Kogi State Government has raised the alarm over what it described as a desperate attempt by ‘criminals masquerading as politicians’ to tarnish the image of the immediate past governor of the state, Yahaya Bello, through the Economic and Financial Crimes Commission, EFCC. The government in a statement signed by the Commissioner for Information, Kingsley Fanwo, […]

Judge Julia Sebutinde of Uganda has been elected Vice President of the International Court of Justice (ICJ) for a three-year term, the United Nations’ highest court announced Tuesday. Sebutinde has served on the 15-member panel of judges at the ICJ since 2012. Prior to her election, she was a judge at the U.N.-backed Special Court […]

President Bola Tinubu on Tuesday evening returned to Abuja after a two-week private visit to the capital of France, Paris. Tinubu landed at the Presidential wing of the Nnamdi Azikiwe International Airport, Abuja around 8:55pm. The President was received by some of the senior members of his administration, including the Secretary to the Government of […]

Rivers state governor, Siminalayi Fubara, has warned detractors against engaging in damaging political activities, saying such moves will paint the state in a bad light and chase away investors. Fubara gave the warning on Tuesday when he inspected the progress of work at the ongoing construction of the 6.5km Woji-Aleto-Alesa-Refinery Link Road project. A statement […]

A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit has ruled that Donald Trump does not enjoy broad immunity from federal prosecution, a major legal setback for the former president, who said he will appeal. They wrote that for the purposes of this criminal case, “former President Trump has become citizen […]