The International Monetary Fund warned that the global economy is entering 2022 in a weaker position than previously expected as it downgraded its global growth outlook largely due to clouds gathering over the recoveries in the United States and China. The IMF’s latest World Economic Outlook calls for the global growth to downshift from 5.9 per cent in 2021 to 4.4 per cent this year. The Fund saw the US economy growing 4.0 per cent this year while China’s economy grew 4.8 per cent this year thanks to the country’s business-sapping, zero-tolerance COVID-19 policy, and ongoing stress in its heavily indebted property sector.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Africa Podcast Network

IMF Cuts Global Economic Growth Forecast

Microsoft Corp exceeded analysts’ expectations for second-quarter revenue on Tuesday, propelled by strong demand for its cloud-based services from more businesses migrating to hybrid work models due to the coronavirus pandemic. Microsoft has become one of the most valuable companies in the world by betting heavily on corporate software and services, especially its cloud services and the movement to the web of its Outlook email and calendar software, known as Office 365. Revenue from Microsoft’s biggest segment, which offers cloud services and includes Azure, its flagship cloud offering, rose 26 per cent, while the business that houses its Office 365 services increased 19 per cent in the quarter.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Microsoft Boasts Quarterly Revenue On Cloud Growth

US President Joe Biden says he would consider imposing economic sanctions personally targeting Vladimir Putin if the Russian president orders a new attack on Ukraine. British Prime Minister Boris Johnson urged European allies to have sanctions ready to go if Russia invades Ukraine. Russia has amassed some 100,000 troops within reach of Ukraine’s border but denies planning an invasion. Instead, it has cited the Western response to its military buildup as evidence that Russia is the target of aggression.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

The US Says Putin May Face Sanctions

The Reserve Bank of Zimbabwe held a crisis meeting with captains of industry on Monday at which they pledged a commitment to work closely in curbing the parallel market exchange rate volatility. The central bank governor, John Mangudya says both parties acknowledged the positive economic achievements made so far which include year on year inflation reduction to end the year at 60,7% from 348,6% recorded in 2020 with local manufacturing production going to 80% of products on the market were locally produced. Mnagudya says the Bank should continue fighting inflation through restrictive monetary policy and building foreign exchange reserves as a way of augmenting the defence of the value of the local currency.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Zimbabwe Committed to Ending Zimdollar Volatility

Kenyan growers and exporters dealing in the avocado export business face an indefinite ban on the export of Hass and Fuerta varieties. Kenya Agriculture and Food authority director, Benjamin Tito noted that the ban, which took effect on November 15, 2021, is aimed at curbing the harvest and export of immature avocados. The food regulator noted the ban will remain in effect in order to control the export of immature avocadoes which have negatively impacted the image of the commodity in overseas markets. It further warned that exporters who use marketing agents without valid registration permits shall have their licenses revoked.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Kenya Extends Avocado Export Ban

Prime Minister Mostafa Madbouli has expressed Egypt&#039;s keenness on reaching a legally-binding agreement for filling and operating the Grand Ethiopian Renaissance Dam to achieve the interests of all parties through striking a balance. Madbouli says Egypt showed interest in resuming negotiations at the nearest chance with the aim of finding solutions to points of technical and legal differences and finding a fair and balanced agreement taking into consideration Egypt&#039;s water scarcity and its dependence on the Nile as the main water resource. He says that Egypt always gives priority to achieving development in Nile basin countries, so it offered assistance to sisterly countries to provide stability for their peoples.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Egypt Calls For Binding Agreement to Renaissance Dam Issue

President Muhammadu Buhari launched the national policy on 5G for Nigeria’s digital economy, with a clear directive to all the security agencies to immediately leverage the technology to enhance security in the country when it has been deployed. President Buhari also allayed fears over health safety of 5G, affirming that such issues had been effectively addressed in developing a policy that suits the country. The president stressed that it would support virtually every sector of the economy, including enhanced connectivity, improved healthcare, support for education while fostering smart cities, and boosting agriculture, among other advantages.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Nigeria’s Security Agencies Directed to Use 5G Tech to Tackle Insecurity

The Central Bank of Nigeria’s Monetary Policy Committee retained the Monetary Policy Rate at 11.5% and kept all other parameters unchanged. CBN Governor Godwin Emefiele made the announcement while addressing journalists at the bank’s headquarters in Abuja. Lowering the rate could have stimulated more borrowing while raising the rate could have signalled the CBN’s intention to reduce the economy’s money supply.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Central Bank of Nigeria Retains Interest Rate At 11.5%

The Federal Government will outline its policy position for the marginal field bid round to eligible awardees who have fully or partly complied with signature bonus payment in the 2020 marginal field programme. It says the policy position would be made public at a forum being planned by the Nigerian Upstream Petroleum Regulatory Commission in Abuja. It says all eligible awardees and relevant international oil companies associated with the MFBR were expected to attend the meeting.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Nigerian Government Outlines Conditions To Marginal Field Awardees

The International Monetary Fund has retained its 2022 growth forecast for Nigeria at 2.7 per cent and increased the 2023 projection by 0.1 per cent to 2.7 per cent. The IMF had in its October report last year projected a 2.7 per cent growth rate for 2022 and 2.6 per cent for 2023. The IMF downgraded its growth forecast for sub-Saharan Africa to 3.7 per cent and 4.0 per cent for 2022 and 2023 respectively from 3.6 per cent and 3.9 per cent forecast in its October 2021 WEO report. The IMF also reduced its forecast for global economic growth to 4.4 per cent in 2023, representing 0.5 percentage points lower than the 4.9 per cent projected in October.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

IMF Retains 2022 Growth Forecast For Nigeria At 2.7%

Serbia and the Belgium-based Euroclear signed an agreement to make the Balkan country’s local debt euroclearable or clearable through the Euroclear international settlements system, which would help lure foreign portfolio investments. Finance Minister Sinisa Mali says the Euroclear membership was vital for the future sales of European Union candidate countries’ bonds. Mali says Serbia’s membership in Euroclear would bolster the development and liquidity of the domestic money and capital markets and lower financing costs. It would also lure more foreign portfolio investors.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Serbia Signs Deal To Boast Foreign Portfolio Investments.

An alliance of airlines and airports called for changes to the European Union’s planned climate change legislation on Monday, arguing it will make them less competitive with non-European rivals. The alliance argues long-haul flights via non-European hubs would not be subjected to the same associated costs, leading to a potential shift in business to such carriers. The alliance rejects a kerosene tax outright and proposes that the environmental protection surcharge be based on the entire flight route, not just feeder flights bringing passengers from the EU to international hubs such as Istanbul or Dubai.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Lufthansa, Air France Kicks Against EU’s Climate Plans For Aviation

Taliban and Western diplomats are holding a meeting outside Norway’s capital Oslo for talks focused on Afghanistan’s humanitarian crisis. The closed-door discussions with representatives of the United States, France, Britain, Germany, Italy, the European Union and Norway.The Taliban earlier met with Afghan civil society members, including women activists and journalists, for talks on human rights.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Taliban, Western Officials Meet To Discuss Afghanistan

Ghanaian authorities have shut down Maxam Mining Company Limited responsible for manufacturing, storing, and transporting explosive materials for mining operations in the country following a deadly explosion last week. Investigations are underway, the authorities say, into Thursday&#039;s blast near the mining town of Bogoso, that killed at least 14 people and injured dozens of others. The National Disaster Management Organisation says more than 40 critically injured people are being treated in hospitals, and more than 500 homes have been destroyed.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Ghana Shut Down Mining Company After Fatal Explosion

Malawi President Lazarus Chakwera has sacked his entire cabinet over corruption concerns. The president vowed to confront all forms of lawless conduct by public officials. He says a new cabinet would be announced in two days. Three ministers are facing charges including the minister of lands who was arrested last month in a bribery case. The labour minister has been accused of diverting Covid funds and the energy minister of meddling with fuel deals. All have denied the allegations.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

Malawi's President Fires Cabinet Amid Corruption Charges

We bring you various leading news from across Africa, on business, economy, market, and politics. Towards A Profitable Africa.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4329003/advertisement

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