Sudan's Economy Contracts 40%
TEHRAN (ANA)- The economy in Sudan has shrunk by 40 percent last year due to the armed conflicts in many places of the country and it is predicted to continue shrinking by about 28 percent in 2024, said Finance Minister Gibril Ibrahim.
Egypt Receives 1st Tranche of 35 Billion Dollar in UAE Investment Deal
TEHRAN (ANA)- Egypt said it has received the first batch of $35 billion pledged by the United Arab Emirates as part of a mega investment deal between the two countries.
Angola Plans to Ban Cryptocurrency Mining Due to Energy Concerns
TEHRAN (ANA)- Angola is planning to ban and criminalize cryptocurrency mining and other virtual assets in the country to safeguard national energy security, local media Angola Press Agency (ANGOP) reported.
Comoros Joins WTO for Economic Growth
TEHRAN (ANA)- The Comoros became the 165th member of the World Trade Organization (WTO) after signing the Protocol on the Accession of the Comoros to the WTO at the 13th WTO Ministerial Conference in Abu Dhabi, United Arab Emirates.
Nigeria's Central Bank Raises Interest Rate to 22.75 Percent
TEHRAN (ANA)- Nigeria's central bank took decisive action by increasing the monetary policy rate by 400 basis points to 22.75 percent.
Kenya's Central Bank Raises Benchmark Rate to 13 Percent amid Rising Inflation
TEHRAN (ANA)- The Central Bank of Kenya (CBK) raised its benchmark lending rate to 13 percent from 12.50 percent amid rising inflation.
Uganda's Central Bank Maintains Benchmark Rate at 9.5 Percent
TEHRAN (ANA)- The Bank of Uganda (BoU), the central bank, announced that it would maintain its policy rate at 9.5 percent, citing its continued effectiveness in controlling inflation.
Africa Suffering Dangerous Air Pollution Crisis
TEHRAN (ANA)- A new study highlights Africa’s severe air pollution crisis and calls for urgent, collaborative action involving global and regional stakeholders. Solutions proposed include air quality monitoring, clean energy investments, improved waste management, eco-friendly technology, and infrastructure development to reduce pollution and address its disproportionate impact on vulnerable populations.
Egypt's Central Bank Raises Interest Rates by 200 bps to Ease Inflation
TEHRAN (ANA)- The Central Bank of Egypt (CBE) raised its overnight interest rates by 200 basis points (bps) over uncertainty surrounding the inflation outlook.
Africa's Economy Projected to Grow 3.5 Percent in 2024 amid Multiple Challenges
TEHRAN (ANA)- Economic growth in Africa is projected to remain modest in 2024 with geopolitical tensions, climate crisis and debt sustainability risks clouding the outlook, the United Nations (UN) World Economic Situation and Prospects (WESP) 2024 report said.