Category: International Business & Finance
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Nigeria’s Dangote oil refinery could accelerate European sector’s decline
๐ณ๐ฌ Nigeria’s giant Dangote oil refinery could bring to an end a decades-long gasoline trade from Europe to Africa worth $17 billion a year, heaping pressure on European refineries already at risk of closure from heightened competition, analysts and traders said. The refinery started production in January and cost $20 billion to build. It can…
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Namibia oil discovery outlook
๐ณ๐ฆ๐ข Namibia and South Africa are two of the worldโs most unequal societies in terms of income and wealth distribution, with Gini index scores of 59.1 and 63, respectively. Together with Zambia, they are three members of the Southern Africa Development Community (SADC) among the four most unequal countries globally. โช๏ธThe recent oil discovery in…
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Petronas sells South African petroleum and chemicals business to Vitol arm
๐ฒ๐พ๐ฟ๐ฆ Malaysiaโs national oil and gas company Petronas has reached agreement to sell its entire 74% majority stake in South Africaโs Engen to Vivo Energy, one of the largest African fuel retail operators and part of multinational energy company Vitol. Engenโs primary business is in the marketing of petroleum, lubricants and functional fluids; chemicals and…
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Chromeโs Standard Safe Browsing Now Has Real-Time URL Protection
Chromeโs standard Safe Browsing protections now provide real-time malicious site detection and Password Checkup on iOS now flags weak passwords. Google today announced that the standard Safe Browsing protections in the Chrome browser can now identify bad sites in real time. The real-time protection was previously available if the Enhanced protection mode was enabled in…
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South African pension fund attack admitted by LockBit
South Africa’s Government Employees Pension Fund, which is the largest fund of its kind in Africa, was claimed to have been compromised by the LockBit ransomware operation in an intrusion last month that resulted in operational and pension payment disruptions, according to The Record, a news site by cybersecurity site Recorded Future. Advertisement Such claims…
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U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three cryptocurrency exchanges for offering services used to evade economic restrictions imposed on Russia following its invasion of Ukraine in early 2022. This includes Bitpapa IC FZC LLC, Crypto Explorer DMCC (AWEX), and Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP).…
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Libya to investigate claims oil smuggling is fuelling Sudan civil war
Authorities to launch inquiry into allegations of mismanagement at countryโs national oil corporation Libyan authorities have said they will investigate allegations of wholesale mismanagement in the countryโs National Oil Corporation, with officials telling the Guardian rampant smuggling is helping to fuel the civil war in Sudan. Mohamed al-Menfi, the chair of the presidential council, will…
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Senegal opposition’s Faye set to become president after rival concedes
๐ธ๐ณ Senegal opposition candidate Bassirou Diomaye Faye was set to be declared the country’s next president after his rival from the ruling coalition called him on Monday to concede defeat. Results trickling in since polls closed on Sunday evening in the first round of a delayed presidential election rapidly suggested Faye, 44, may have clinched…
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Tunisia’s central bank keeps key interest rate unchanged at 8%
๐น๐ณ Tunisia’s central bank has kept its benchmark interest rate unchanged at 8%, an offical at the bank told Reuters on Friday. The annual inflation rate slowed for the sixth consecutive month to 7.5% in February from 7.8% in January, official data showed this month. #Tunisia
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DR Congo overtakes Peru on copper output, still behind on exports
๐จ๐ฉ๐ต๐ช The Democratic Republic of the Congo overtook Peru as the world’s second largest copper producer in 2023, though it still lags the South American country in exports, official data from both nations show. Congo produced about 2.84 million tons of copper last year, the country’s central bank reported. Peru’s output was 2.76 million tons,…
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