Category: International Business & Finance
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ExxonMobil Commits $12.7 Billion Investment in Guyana’s Whiptail Oil Field Development
π¬πΎ ExxonMobil, a prominent US oil and gas company, has finalized its decision to proceed with the development of the Whiptail oil field within the Stabroek block located offshore Guyana. The total financial commitment to this development project stands at $12.7 billion. Anticipated production from the field by the end of 2027 is estimated to…
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Moderna pauses Kenya plant plans as COVID vaccine demand wanes
π°πͺ Moderna had paused its plans to build a vaccine manufacturing facility in Kenya, following a post-pandemic decline in demand for COVID-19 vaccines.The move is in line with Moderna’s strategy of resizing its manufacturing network to cut costs, even as it aims to spend around $4.5 billion this year in research and development of several…
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Russia begins diesel exports to Sudan, LSEG data shows
πΈπ©π·πΊ Russia has begun diesel exports to Sudan as Moscow seeks new markets for its refined products after an EU embargo, LSEG data shows.Since the full EU embargo on Russian oil product imports was imposed in February 2023, diesel supplies have been diverted to Brazil, Turkey, countries in Africa, Asia and the Middle East as…
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Russia begins diesel exports to Sudan, LSEG data shows
πΈπ©π·πΊ Russia has begun diesel exports to Sudan as Moscow seeks new markets for its refined products after an EU embargo, LSEG data shows.Since the full EU embargo on Russian oil product imports was imposed in February 2023, diesel supplies have been diverted to Brazil, Turkey, countries in Africa, Asia and the Middle East as…
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Kenya and Central African Republic strengthen ties
π°πͺπ¨π« Kenyaβs President William Ruto made a 24-hour visit to the Central African Republic on the weekend, holding talks in Bangui with President Faustin Archange Touadera. It was the first time a Kenyan head of state had visited the country and Touadera thanked him for coming to Bangui. During the visit, Ruto paid tribute to…
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Critical Minerals in Africa: Strengthening Security, Supporting Development, and Reducing Conflict amid Geopolitical Competition
The United States Institute of Peace convenedΒ a senior study groupΒ to explore the role Africa plays in the United Statesβ efforts to diversify US critical mineral supply chains and how new investment in partnerships with African countries could help drive economic development and strengthen peace and security on the African continent. Based on meetings and interviews…
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LIBERIA-GHANA BEGINS TALKS ON BUDUBURAM REFUGEES CRISIS
β As GOL Delegation Makes Major Strides in Ghana The Government of Liberia delegation headed by the Deputy Minister for Legal Affairs, Ministry of Foreign Affairs, Cllr. Jeddi Armah, arrived in Accra, Ghana, over the weekend to embark on a mission of pivotal importance. The delegation commenced with a series of critical meetings aimed at…
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Trafigura’s Head of Oil Retires to Pursue Equestrian Passion Amidst Scandal
π°JosΓ© Larocca, a prominent figure in global commodities trading, has announced his retirement from Olympic show jumping, marking the end of an era in Trafigura Group’s oil division. Larocca’s departure, revealed on April 5, follows an international scandal, yet to be linked to his personal conduct. Larocca, aged 55, held a pivotal role in Trafigura’s…
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Zimbabwe’s transition to new ZiG currency reportedly prompts banking disruptions
πΏπΌ Banking operations in Zimbabwe have been disrupted as financial institutions rushed to convert all Zimbabwe dollar account balances to ZiG, the new legal tender, media reported. Thus, ZimSwitch, the national payments platform provider, revealed that processing of local dollar transactions across financial institutions is currently unavailable. Nedbank, a South African banking giant operating in…
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Ethiopian securities exchange reaches capital raise target needed for operations
πͺπΉ The Ethiopian Securities Exchange (ESX) has achieved a milestone by meeting its initial capital raise target of $11.07 million required to kickstart its operations, the ESX said in a statement. The exchange announced that the fundraising effort was oversubscribed, with offers totaling $26.6 million from both domestic and foreign commercial investors, demonstrating robust interest…
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