South Africa expects more than 7% economic downturn
South Africa’s GDP slumped 51 percent in the second quarter marking a back-to-back contraction for the fourth time in the year
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Tanzania, Uganda to construct new East African crude oil pipeline
The cost requirement for the commercial production of the 1,445-km long pipeline is $3.5 billion
Insurance companies in Hong Kong rely on online sales to avoid record slump
Consumers in mainland China spent only $108 million in the second quarter on insurance policies in Hong Kong
The UK will implement new approach towards subsidy control
The UK will follow any international obligations on subsidies agreed in accordance with the future free trade agreements
BP signs deal with Sweden’s Equinor to acquire offshore wind assets in the US
2 gigawatts (GW) capacity will be installed in Empire Wind offshore
Saudi Electricity Company to float green dollar bond
The state-controlled company will look for potential investors based in the Middle East, Europe and Asia
Singapore’s property market soars as unspecified buyers show interest
The monthly average sales by mainland Chinese buyers remained strong despite the pandemic-induced recession
Kenya receives $750 million development package from IDA
The funding will also be used to complete the Horn of Africa Gateway Development Project
Mastercard to launch virtual testing platform for central banks
The new platform will pave the way for central banks to carry out activities such as simulation of issuance and distribution
Egypt’s real estate sees robust demand with large-scale projects
Egypt is the second biggest recipient of foreign direct investment (FDI) in Africa and the Arab world