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BusinessEconomyWorld

World Bank predicts ‘lost decade’-RT News

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Overlapping crises could lead to a sharp slowdown, the institution warns Exclusive News Average potential global economic growthcould slump to a three-decade low of 2.2% per year through 2030, the World Bank warned on Monday, citing the fallout from the Covid-19 pandemic, the conflict in Ukraine, and the ongoing risks to the financial sector in the US and EU. According to the…
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EconomyWorld

Russia bans SWIFT-Rt News

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Banks have been ordered to use the country’s domestic financial messaging systems for transactions Exclusive News The Bank of Russia has forbidden Russian financial institutions to use the SWIFT messaging system for transactions inside the country, the regulator announced on Monday. Starting from October, Russian banks will be obliged to only use domestic services for transferring…
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AfricaBusinessEconomy

Russia and Congo to ink energy deal – envoy-Rt News

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The two countries are reportedly looking to build a pipeline to supply the African nation with Russian oil. Exclusive News Russia and the Republic of Congo are planning to sign an intergovernmental agreement on the construction of a pipeline for transporting petroleum products to Brazzaville, according to Russian Ambassador Georgy Chepik. “It is assumed that this agreement will be…
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AfricaEconomy

Algeria cautions against Western oil price cap-Rt News

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The measure could cause supply disruptions, the country’s energy minister warns Exclusive News The Western price ceiling on Russian oil will spark uncertainty and disrupt global trade flows, the Algerian energy minister warned on Wednesday. The OPEC+ decision to cut output by 2 million barrels per day last November was designed to bring stability to global oil markets, Mohamed Arkab…
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AfricaBusinessEconomy

Zimbabwe poised to ditch dollar in trade with Russia – official-Rt News

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Settlements between the countries could be arranged in local currencies or gold, a senior lawmaker has suggested Exclusive News The central banks of Russia and Zimbabwe should establish settlements in local currencies and look at opportunities for securing trade in gold reserves, the speaker of the Zimbabwean ruling party ZANU-PF, Christopher Mutsvangwa, told RIA Novosti on…
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AfricaBusinessEconomyWorld

US to discourage African nations from doing business with Russia – official-RT News

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The deputy treasury secretary will attempt to pressure several states to toe the line on Ukraine Exclusive News US Deputy Treasury Secretary Wally Adeyemo is planning a trip to Africa, where he will press officials in Ghana, Nigeria, and another unnamed country to cut their business ties with Russia, he said on Wednesday. Speaking to ‘Pod Save the World’ host Ben Rhodes, Adeyemo…
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AfricaBusinessEconomy

Botswana seeks bigger cut from diamond giant-RT News

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The African nation can make “much more money” if it negotiates a larger share from De Beers, President Masisi said Exclusive News Botswana is pushing for a larger share of diamonds mined by the De Beers consortium, President Mokgweetsi Masisi said on Thursday. Masisi’s government and the company have been trying to negotiate a new deal for five years, and the president now thinks…
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