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AfricaEconomyWorld

African countries contemplating to join BRICS

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The Tunisian president earlier said the cash-strapped nation would reject an IMF bailout Exclusive News Tunisia is considering becoming a member of the BRICS economic bloc, the spokesman for the pro-presidential ‘July 25 Movement’ told Russia’s RIA Novosti news agency on Sunday. Mahmoud bin Mabrouk cited unnamed sources in the North African country’s government as saying the…
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BusinessEconomyTechnology

Global semiconductor sales drop

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February sales slumped by more than 20% in annual terms, an industry association says Exclusive News Worldwide sales of microchips declined 4% in February in monthly terms to $39.7 billion, the Semiconductor Industry Association (SIA) reported on Thursday. The figure is 20.7% lower than in February 2022, when sales totalled $50 billion, according to the SIA. “Global semiconductor…
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AfricaBusinessEconomy

South Africa ends power crisis ‘state of emergency’-RT News

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The disaster regulations had been in place for almost two months Exclusive News South Africa has lifted the ‘state of emergency’ declared in February to deal with the country’s crippling electricity crisis. The measure had been a necessary response to the economic impact and harm caused by critical levels of load shedding on vulnerable sectors, Cooperative Governance and…
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EconomyWorld

German mortgage lending collapses-RT News

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February’s 54% year-on-year decline is the worst on record, according to data published by a consultancy Exclusive News The volume of new homeowner’s loans in Germany more than halved in February compared to the same month last year, according to data from Barkow Consulting. The consultancy’s latest report shows mortgage lending in the Eurozone’s biggest economy…
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BusinessEconomyWorld

Oil prices surge after surprise OPEC move-RT News

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Saudi Arabia and other producers have announced further oil output cuts Exclusive News An unexpected announcement by the OPEC+ group of oil producing countries of a plan to slash their combined output by another 1.15 million barrels per day pushed the prices of crude up by as much as 6% in early Monday trading. The oil producers, who control roughly 50% of global oil supplies, reached…
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BusinessEconomyWorld

Key Asian bloc looking to dump dollar and euro – media-RT News

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The ASEAN economic union reportedly wants to protect transactions from “possible geopolitical repercussions” Exclusive News The Association of Southeast Asian Nations (ASEAN) is set to discuss dropping the US dollar, euro, yen and pound sterling from transactions and moving to settlements in local currencies, according to the news magazine Tempo. An official meeting of ASEAN…
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AfricaBusinessEconomy

Nigeria boosts oil exploration-RT News

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The West African country is seeking to raise crude reserves to 50 billion barrels, a state oil firm has said Exclusive News The Nigerian National Petroleum Corporation (NNPC) is expanding crude exploration in the country’s onshore frontier basins, local media reported on Tuesday citing the company’s CEO, Mallam Mele Kyari. According to Kyari, the expansion of exploration efforts…
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