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The World Of SAVINGS!

The World Of SAVINGS!

A lot of times, we are encouraged to save. Finance experts, books, sermons, finance groups teach the importance of saving money, but how come people still struggle with saving money successfully? Savings is simply putting money aside from your income on a regular basis. It is income not spent. The rule of thumb is that […]

Bribes, Beatings and Gridlock at Ports Choke Nigeria Economy

Bribes, Beatings and Gridlock at Ports Choke Nigeria Economy

The lines of aging blue, red and yellow trucks begin almost 6 miles (10 kilometers) from the gates of Nigeria’s main port of Apapa. Valentine, a 34-year-old driver, has been queuing outside the Lagos site for two weeks. He’s had to deal with policemen demanding bribes and fend off hoodlums known as area boys. “This […]

Total Plans New Offshore Angola Well To Boost Oil Output

Total Plans New Offshore Angola Well To Boost Oil Output

  French oil company Total said on Saturday it plans to drill 13 wells on block 17, offshore Angola, in order to maintain production of 400,000 barrels per day of crude until 2023 in Africa’s second largest crude producer. In a statement, the company said the wells, which will connect marginal fields to existing floating […]

Iran Sanctions May Not Cause Oil Shortage In Nigeria – Says, Petroleum Minister

Iran Sanctions May Not Cause Oil Shortage In Nigeria – Says, Petroleum Minister

U.S. sanctions on Iran won’t necessarily translate into a global shortage of oil, according to Nigerian Petroleum Minister Emmanuel Ibe Kachikwu. “Everybody assumes that once they put the sanctions on Iran, you’re going to lose that production,” Kachikwu said in Cape Town, appealing for patience until there’s more clarity on the impact of the penalties. […]

South Sudan Is Out Of Cash

South Sudan Is Out Of Cash

Several times a week, the 45-year-old accountant lines up at one of the few ATMs in Khartoum still dispensing banknotes, waiting hours to withdraw the daily maximum of 2,000 Sudanese pounds ($42). That sum’s being spread increasingly thinly to feed his family, as inflation in the North African nation hits its highest in two decades, […]

U.S Beats Russia To Become Top Oil Producer

U.S Beats Russia To Become Top Oil Producer

The U.S. surpassed Russia in August to claim the title of world’s top oil producer, with the largest year-on-year output increase in its history. Output rose to a record 11.346 million barrels a day, according to a monthly report issued Wednesday by the U.S. Energy Information Administration. Russia pumped 11.21 million in August, according to […]

Kenya To Raise $2.8 Billion From Eurobonds, Loans This Year

Kenya To Raise $2.8 Billion From Eurobonds, Loans This Year

Kenya will offer Eurobonds and seek a syndicated loan to raise the 287 billion shillings ($2.8 billion) net external financing it planned this fiscal year, a Treasury official said.   The state plans to raise as much as 250 billion shillings of Eurobonds in what would be its third sale of the debt, Treasury Principal […]

Facebook Is Teaming Up With Telecoms In Developing Markets

Facebook Is Teaming Up With Telecoms In Developing Markets

At a Facebook-led telecommunications summit in London on Oct. 16 and 17, attendees could be forgiven for wondering what year it was. The social media company’s executives spoke optimistically about building tools to connect more of the world to the internet at higher speeds, and mobile operators said they were proud to be using those […]

South Africa’s Eskom Plans First Major Battery Storage Project

South Africa’s Eskom Plans First Major Battery Storage Project

South Africa’s state-run power firm Eskom said on Tuesday it is planning its first major battery storage project as President Cyril Ramaphosa seeks to boost renewable energy usage and reduce the country’s reliance on coal. Prince Moyo, general manager for power delivery engineering at Eskom, told Reuters that the battery storage project would be rolled […]

Merkel Opens New Front in Fight Against Diesel Vehicle Bans

Merkel Opens New Front in Fight Against Diesel Vehicle Bans

German Chancellor Angela Merkel said she’ll seek to amend German anti-pollution laws to avoid driving bans for diesel vehicles in cities where harmful nitrogen-oxide emissions are just slightly above the limit.  The proposal would include Frankfurt, the biggest city in the Hesse region, where polls suggest her Christian Democratic Union party is headed for losses […]