Category: International Business & Finance
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IMF slashes Botswana’s 2024 growth forecast amid diamond market woes
The International Monetary Fund (IMF) has slashed Botswana’s 2024 growth forecast to 1% from an earlier April estimate of 3.6% due mainly to lower diamond production, it said in a statement. The budget deficit is also expected to widen to 6% from 3.45% due to a fall in mineral revenues, the IMF said, urging the…
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Copper bull market buoyed by aging legacy mines, says analyst
In the copper industry, the cost of capital has been too high to justify the returns for mine investors and is the driving force behind the bull market for the past decade — this is a sentiment shared by analysts at Stifel Financial. “Broadly for larger projects, that’s what I’m seeing in the copper space…
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Intensifying Congo conflict puts 1 mln children at risk of acute malnutrition
More than one million children are at risk from acute malnutrition in Democratic Republic of Congo as rising violence drives up needs among millions of displaced people, the World Health Organization said on Friday. The impact on civilians of the more than two-year conflict between Congolese forces and the Rwanda-backed M23 militia in eastern areas…
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Algerian President Tebboune Announces Bid for Second Term
In a significant political development, Algerian President Abdelmadjid Tebboune has declared his intention to seek a second term in office. President Tebboune, who has been in power since December 2019, made the announcement on Tuesday, citing widespread support from various sectors of society as his motivation to run again. “At the request of many parties,…
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CNN: Russian assassination attempt on Rheinmetall boss foiled
US intelligence discovered earlier this year that the Russian government planned to assassinate the chief executive of a powerful German arms manufacturer that has been producing artillery shells and military vehicles for Ukraine, according to five US and western officials familiar with the episode. The plot was one of a series of Russian plans to…
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Zimbabwe must use the ZiG to “break free from the US dollar grip” and thrive economically, official says
Using the ZiG as legal money will boost economic sovereignty and eliminate foreign currency dependency, Information Secretary Nick Mangwana said in an opinion piece published in the local newspaper. “The benefits of de-dollarization far outweigh the costs, making it an urgent imperative for Zimbabwe to break free from the US dollar’s grip,” he said.”The US…
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MASTERCARD FOUNDATION HOSTS FIRST EDTECH CONFERENCE IN NIGERIA
The Mastercard Foundation is organizing its first EdTech Conference from July 8 to 10, 2024, through its Centre for Innovative Teaching and Learning. This event will occur every two years and is being held in collaboration with the Federal Government of Nigeria at the Hilton Transcorp in Abuja, Nigeria. The 2024 Mastercard Foundation EdTech Conference…
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Weaponry of the Haitian Gangs
When examining the conflicts in Haiti, it appears that mostly 5.56x45mm and 7.62x51mm NATO caliber weapons smuggled from the United States were used by the gangs. Gangs led by Port-au-Prince-based “Izo” and “Barbecue” appear to use nearly identical weapons. Experts say most guns smuggled from states with lax firearms laws such as Florida, Arizona and…
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Belarusian President Lukashenko hopes Nigeria’s Bola Tinubu will be able to pay a visit to Minsk
Alexander Lukashenko also said that his country is interested in developing cooperation with Nigeria. The Belarusian leader met with Nigeria’s First Lady Oluremi “Remi” Tinubu in Minsk on Wednesday, the Belarusian president’s press service said. “It is very good that you have come. It will be an interesting and very useful beginning of our cooperation.…
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Low prices, pay delays drive Ghana cocoa farmers to smugglers
Low prices and payment delays are pushing Ghana’s cocoa farmers to sell to increasingly sophisticated smuggling rings, siphoning off production from border areas and raising doubt over next season’s output, growers and officials say. Failure to end the financing logjam and close the gap between Ghana’s official price and the amount paid by traffickers, they…
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