Category: International Business & Finance
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Enhancing Bilateral Ties: PAPSS Visits LBDI in Monrovia, Liberia
In a significant diplomatic development, Monrovia, the capital city of Liberia, recently played host to high-profile visits from the Pan-African Parliament Secretariat (PAPSS) and the Liberia Bank for Development and Investment (LBDI). The interactions during these visits underscored the commitment to strengthening diplomatic and economic ties between Liberia and the broader African community. The Pan-African…
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New Financing to Support 900,000 Farmers and Road Users for Economic Transformation in Liberia
WASHINGTON, December 22, 2023 – The World Bank Board has approved a Second Additional Financing for the Rural Economic Transformation Project (RETRAP-AF II). This financing is funded by an International Development Association (IDA)* credit of US$76 million from its Scale-Up Window (SUW) and $9 million grant from the KfW Development Bank through the Liberia Reconstruction…
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Charles Schwab laying off over 150 of its San Francisco employees
Of the about 2,000 employees affected by Charles Schwab’s most recent round of layoffs, 155 are based at the company’s former headquarters in San Francisco. A Nov. 6 Worker Adjustment and Retraining Notification filed with the California Employment Development Department confirms that 155 employees at Charles Schwab’s 211 Main St. office will be laid off by Jan.…
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Richer countries seek to grab large swathes of land in Africa as “carbon credits” to offset their own carbon emissions – it’s a colossal scam
As has become commonplace at such gatherings, the theme this week at the United Nations Climate Summit (“COP28”) has been reducing carbon emissions. The underlying, more sinister theme is to reduce emissions worldwide and is tantamount to modern-day colonialism. The Financial Times reported there is a “looming land grab” in Africa by corporations in richer countries to…
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It’s like smoking poison’: Sierra Leone’s youth battle addiction to a mystery drug
One thing is certain in Freetown, Sierra Leone’s capital, says 18-year-old Abdullah: you are never far from a kush dealer. Some call its impact the “kush devil”. For Abdullah, addiction resulted in him dropping out of school and begging on the street. Now he is staying at the City of Rest Rehabilitation Centre, one of…
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Zimbabwe turns to BRICS bank for funding
Zimbabwe intends to join the New Development Bank (NDB), the multilateral bank set up by the vibrant BRICS states, to expand sources of capital for infrastructure development, according to Finance, and Economic Development Minister Professor Mthuli Ncube. Mthuli revealed this in an interview with CGTN Africa, an African division of China Global Television Network, the…
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In Zimbabwe, digital gold beats bitcoin
The Reserve Bank of Zimbabwe is trying something new. Or rather, something very old. You think you’ve got problems? Consumer price inflation in Zimbabwe is running at 75% a year. And that’s only the official rate. The International Monetary Fund thinks it’s nearer 175%. Either way, you get your paycheck and you run, not walk,…
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African Bank acquires Grindrod Bank in R1.5-billion deal
JOHANNESBURG (May 26, 2022) – African Bank has acquired 100% of Grindrod Bank which will allow it to accelerate its entry into the South African business banking sector. Grindrod Bank is wholly owned by Grindrod Limited.The deal is worth R1.5-billion. African Bank’s CEO Kennedy Bungane says, “Following the release of our successful half-year results this…
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Pan-African Parliament: Punches, kicks and death threats
Founded with the noble ambition of uniting the continent, a session of the Pan-African Parliament (PAP) recently descended into farce with some members fighting and threatening to kill each other. The ugly scenes came amid sharp divisions over who the next president of the 235-member parliament should be, with southern African delegates insisting that their…
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Liberian Oil Blocks
Main Activities: Oil and Gas Extraction Full name: Chevron Liberia Limited Profile Updated: March 21, 2019 In Liberia, Chevron works through its subsidiary Chevron Liberia Limited. In September 2010, the Liberian government granted Chevron approval to acquire interests in three deepwater blocks. A year later, in 2011, Chevron opened an office in the capital of Monrovia.…
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