Business

Tue,24Jan2017

Business

Egypt: Minister under pressure to resign after wheat commission's corruption report

Photo©Amr Nabil/AP/SIPAA fact-finding commission investigating corruption in Egypt's domestic wheat supplies has delivered its final report to parliament, a lawmaker said on Monday, amid mounting pressure on the minister of supplies to resign.

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IMF evaluates Ghana's fiscal outlook, could review assistance program

Photo©Yuri Gripas/ReutersThe International Monetary Fund (IMF) is evaluating Ghana's fiscal outlook for the rest of 2016 and will consider the third review of the country's $918 million assistance programme next month subject to the outcome, the Washington-based lender said on Monday.

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Zimbabwe stops hiring public workers as it struggles to pay

Harare owes $110 million to the IMF, $600 million to the African Development Bank and $900 million to the World Bank. Photo©AP/SIPAZimbabwe has stopped hiring new state workers after failing to pay its soldiers and teachers on time, according to an official notice, as President Robert Mugabe's government struggles with a big financial squeeze.

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Egypt to end fuel subsidies within three years

File photo©Matt Rourke/AP/SIPAEgypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of their actual cost during the 2016/17 fiscal year.

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Libya sovereign fund claimant denounces U.N.-backed govt's management plan

AbdulMagid BreishA claimant to the chairmanship of Libya's $67 billion sovereign fund on Monday denounced the appointment by the country's United Nations-backed government of a panel to run the fund, saying he had not been formally asked to step down.

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Nigeria's Buhari to ask for emergency powers to revive economy - source

Nigerian President Muhammadu Buhari. Photo©Frank Augstein/AP/SIPANigerian President Muhammadu Buhari will ask parliament for extra powers for one year allowing him to take "emergency" decisions to revive the flagging economy, a government source said on Monday.

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Ghana to get a $1.2bn ultra-modern ecotourism park in its capital city

Visitors walking along the canopy walk, a series of foot bridges suspended 30 meters in the air over the treetops, in Kakum National Park, Ghana. File Photo©Olivier Asselin/AP/SIPAGhana has decided to convert one of its forest reserves – Achimota Forest – into a world-class recreational facility and a major tourism destination hub in West Africa at a cost of $1.2 billion.

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